Accident insurance: a valuable benefit for all stages of life

What’s the best age to get accident insurance? You may be surprised to learn that accident insurance may provide value to you no matter what your age.


For those just starting out

When you are in your 20s and starting your career, one of your goals may be to save money for future plans and goals. If you experience an accident, which could be the result of your active lifestyle, you may have to dip into these savings to pay for unexpected out-of-pocket expenses not covered by your health insurance. Accident insurance may help protect the balance in your personal savings account or your Health Savings Account (HSA) if you have a High Deductible Health Plan (HDHP).

For families

As you’re advancing your career and watching your family grow, there are likely to be a few bumps and bruises that happen along the way. If you have children who are active—for example, they participate in organized sports—you know that accidents can happen. They can happen to you, too, if you are a do-it-yourselfer or if you live an active lifestyle. Accident insurance may help reduce the financial impact of an injury so you can focus on you or your child’s recovery—not your finances.

For those making the most of it

As you enjoy the benefits of your hard work later in life, accident insurance may be something to consider, especially if you continue to be active with yard work, gardening, biking, and other activities. Even minor slips or falls may require a trip to the doctor’s office or even the ER, but the costs associated don’t need to catch you off guard. Even if you’ve set aside money for health-care-related expenses, having accident insurance is one way you can save those funds for bigger medical expenses. And by minimizing the impact on your wallet, you may not have to interrupt your normal spending habits, like spoiling your grandkids.

No matter what stage of life you are in, accident insurance is a benefit worth considering to help you minimize your out-of-pocket costs when accidents happen.

Sources

CDC.org, “Older Adult Falls: Get the Facts,” accessed July 21, 2015, http://www.cdc.gov/homeandrecreationalsafety/falls/adultfalls.html.

Stay connected

Connect with us for ideas, tips, and discussions to help protect what you love.

    

Related posts

  1. How do I know if I’m covered? Understanding pre-existing condition limitations
  2. What you need to know to file a claim
  3. Demystifying life insurance myths
  4. Getting ready for maternity/paternity leave
  5. Accident insurance: a valuable benefit for all stages of life
  6. Beyond dollars and cents: how disability insurance can help get you back on your feet
  7. FMLA—an important resource to know about
  8. Employee Assistance Program (EAP): what is it and how does it work?
  9. All about HDHPs and HSAs
  10. Benefits you can use today with insurance protection for tomorrow
  11. I’m a Millennial. Why do I need insurance?
  12. Tips to help choose your benefits in five easy steps
  13. How to choose a dentist in your PPO network
  14. How to maintain a work/life balance
  15. Critical illness insurance: a way to help bridge a health insurance gap
  16. How to assess how much disability insurance you need this year
  17. When to re-evaluate your life insurance needs
  18. Do I need accidental death and dismemberment (AD&D) insurance if I have life insurance?
  19. What is the difference between accident insurance and accidental death and dismemberment insurance?
  20. Accident insurance vs. Disability insurance
  21. Life insurance that moves with you
  22. Returning to work after a disability
  23. Short-term disability insurance and your maternity leave
  24. Critical illness insurance: what to consider before you buy
  25. Tips to make your work life easier when you return from maternity leave
  26. Choosing the right dental plan
  27. The advantages of joining a dental PPO
  28. Should I buy insurance at work?
  29. A plan for income when you can’t work
  30. Disability insurance choices
  31. Affordable life insurance at work

SLPC 26655 07/15 (exp. 07/17)

© 2015 Sun Life Assurance Company of Canada. All rights reserved. For policy and underwriting company information, see the disclosures page.