Accident
Life doesn’t always go according to plan. Accidental injuries happen, and they can have a big impact on the wallet. Principal® accident insurance helps supplement key benefits such as medical and disability coverage by providing a lump-sum cash benefit. It can be used any way it’s needed to help pay expenses like medical deductibles and copayments; transportation, food and lodging; childcare; and home healthcare needs.
Accident insurance offers a simplified design that’s unlike many other accident coverages. It pays an up-front benefit based on covered injuries received, removing any guesswork about the benefit amount. That means less paperwork and quicker benefit payment. It covers:
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ACCIDENT INSURANCE PROVIDES LIMITED BENEFITS.
- Pays a tax-free1, lump-sum cash benefit to an insured employee or family member with a covered accidental injury
- Proof of good health is never required
- Employees can buy coverage for their spouse and/or kids
- A wellness benefit is available to encourage preventive care (not available in all states)
- An accidental death and dismemberment (AD&D) benefit is also available to provide additional protection
- Portable coverage employees can take with them if they leave their employer (not available in all states)
1 Based on current federal income tax laws, if insurance premiums are paid with after-tax dollars, the benefits are received income-tax-free.
Minimum Case Size | Participation Rate |
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Talk to your clients about how accident can be used to supplement other insurance, including medical and disability, by providing a benefit that can be used to pay for uncovered expenses.
Target employers offering:
- Medical plans with high deductibles - Employees could use the cash benefit to help cover the deductible.
- Disability insurance - Because this only covers a percentage of income, employees could use the cash benefit to supplement their income and to pay for additional expenses.
Key materials listed below.
Accident overview (GP61987LS)
Product details about Principal accident insurance. Not for use in Arizona or New Mexico.
Supplemental insurance overview (GP61988LS)
Overview of Principal supplemental insurance products – critical illness, accident, and hospital indemnity insurance. Not for use in Arizona or New Mexico.
- Contact your local sales representative.
3435655-032024