Help employees prepare for the unexpected with accident insurance.
Life doesn’t always go according to plan. Accidental injuries happen, and they can have a big impact on the wallet. Accident insurance helps supplement key benefits by providing employees a lump-sum cash benefit1 after a covered accidental injury.
Who pays the insurance premium?
Employees pick up the entire cost of the premium with voluntary accident insurance. They choose who to cover and pay the premiums through payroll deduction.
What is accident insurance?
Accident insurance can help employees and their families be better prepared to handle expenses that pop up after an accidental injury. A lump-sum cash benefit1 is paid directly to the insured person after having a covered injury. This benefit provides cash that can be used however it’s needed.
Why offer group accident insurance?
Accident insurance helps your employees maintain financial wellness. The expenses that can result from unexpected injuries can often be overwhelming to your employees and their families. When they’re covered by accident insurance, they can breathe a sigh of relief that they’re better prepared financially just in case an accident happens.
How does group accident insurance work?
Our accident insurance is different, offering a simplified design that’s unlike many other accident coverages. It pays an up-front, lump-sum benefit based on covered injuries received—regardless of other coverages or actual expenses. It’s not dependent on services, tests, or treatments, so employees can get paid right away with less paperwork. And there’s no guesswork about the benefit amount.
The benefit can be used any way the employee chooses, such as medical deductibles and copayments, transportation, food and lodging, child care, lost income from missing work, home healthcare needs, and more.
What injuries are covered?
Accident insurance covers:
- Burns
- Comas
- Concussions
- Dental or eye injuries
- Dislocations
- Fractures
- Internal injuries
- Knee cartilage
- Ruptured disc
- Tendon/ligament/rotator cuff injuries
Key features of Principal group accident insurance
Our simplified product design includes these features:
- Simplified design, minimal paperwork, and quick claims
- Proof of good health is never required
- Employees can buy protection for their spouse and/or kids
- You can include an accidental death and dismemberment (AD&D) benefit, wellness, and portability
Support for employees’ emotional health.
Employees and their dependents can call a free, confidential emotional health support line2 24 hours a day, 7 days a week to reach licensed behavioral health clinicians who can provide emotional support, tips for healthy coping, and referrals to local resources.
Build upon your benefits package.
Talk to your financial professional about offering group accident insurance. And, consider combining group accident insurance with other offerings for a more comprehensive benefits package.
Group life insurance
Your employees and their families all have different needs for life insurance. Our flexible products can be a nice fit.
Group critical illness insurance
Helps employees protect their financial security when diagnosed with a serious illness3 by providing them with a lump-sum cash benefit.