New Personal Accident Product Launched By LifeSecure Insurance

“At a time when individuals are paying higher deductibles and more out-of-pocket expenses, Personal Accident Insurance can be the perfect complement to traditional health care plans to help close the coverage gap. Without adequate coverage, the unexpected costs that result from accidents – whether they happen around the house, at work or on the sports field – can have a significant impact on an individual's financial stability. LifeSecure is proud to offer yet another straightforward, flexible and affordable solution that will help families protect their well-being and finances,” said LifeSecure President and CEO Lisa Wendt.

Date released by the National Safety Council shows one in nine Americans require medical care due to accidental injury. According to Safe Kids USA, one in every three kids under the age of 14 who play organized games has suffered at least one injury.

LifeSecure’s new PAI product covers families and individuals from out of pocket expenses following accidental injuries. Unlike other providers, LifeSecure reimburses costs directly to policyholders and the coverage doesn’t include a pre-defined schedule of benefits. The product is expected to be independent yet complimentary to health insurance cover. If the medical costs are taken care of by other insurance cover, LifeSecure’s product can be used to recover lost wages and other personal expenses.

The PAI coverage allows policyholders to choose their Annual Benefit Bank, ranging from $1,000 to $15,000 for individuals and $25,000 for families, and deductibles of $100, $250 and $500.

A policyholder’s deductible will diminish by 20 per cent each year that receives no benefits under the Disappearing Deductible feature. The deductible is resent if a claim is received within five years; however, a deductible once eliminated is never reset.