Some of the covered conditions include:
- Heart attack
- Stroke
- End-stage renal (kidney) failure
Full Answer
How does Colonial Life Accident Insurance work?
How Colonial Life accident insurance works. Accident insurance helps you pay for the medical and out-of-pocket costs that you may have after an accidental injury. Based on your policy, this can include emergency treatment, hospital stays, medical exams and other expenses like transportation and lodging.
What is cancer insurance at Colonial Life?
This policy is offered as a complement to medical insurance and is intended to offset other unexpected expenses, like child care, loss of income, deductibles, co-pays, and lodging. Colonial’s cancer insurance can also cover certain cancer screening tests.
Can I borrow against my colonial life insurance policy?
Yes, you can borrow against your Colonial life insurance policy by filling out a request for service form and mailing it to the address specified. If you don’t request a specific amount, then Colonial will issue a loan for the maximum amount possible on your policy.
How long does it take for colonial life to pay out?
There’s no set time frame for an insurance company to pay out a life insurance policy, although 30 to 60 days is typical if a death certificate is submitted in a timely fashion. Many states allow insurance companies 30 days to review the claim. Can I borrow against my Colonial Life’s life insurance policy?
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What does an accidental policy cover?
Here are some of the injuries that may be covered by accident insurance: Accident-related injuries such as broken bones or dislocations, burns, dental and eye injuries. Ambulance services. Emergency room care or urgent care.
Are accidents covered by life insurance?
Life insurance provides financial protection to your loved ones if you die, but policies don't pay out in every situation. In general, life insurance policies cover deaths from natural causes and accidents. If you lie on your application, your insurer could refuse to pay out to your beneficiaries when you die.
What policies does Colonial Life offer?
With our voluntary benefits, you can rest assure that you'll have the financial protection and personal service you need during life's most challenging moments.Disability Insurance. ... Life Insurance. ... Accident Insurance. ... Hospital Indemnity Insurance. ... Critical Illness Insurance. ... Cancer Insurance. ... Dental & Vision Insurance.
What do you get for $9.95 a month from Colonial Penn?
The Colonial Penn life insurance plan for $9.95 per month is a guaranteed acceptance whole life policy with a waiting period of two years. It offers permanent lifelong coverage with a premium that will never increase and builds cash value. There are no health questions or exams to determine your eligibility.
What accidental death does not cover?
Accidents typically exclude things like acts of war and death caused by illegal activities. Death from an illness is also excluded. Any hazardous hobbies that the insured regularly engages in—race car driving, bungee jumping, or any other similar activity—are specifically excluded as well.
What is not covered in accidental death insurance?
AD&D insurance will cover only deaths and injuries from accidents—not natural causes or illnesses. Not heart attacks or strokes. Policies typically cover death or injuries from accidents at work, home and while traveling.
What are five things not covered by life insurance?
The five things not covered by life insurance are preexisting conditions, accidents that occur while under the influence of drugs or alcohol, suicide, criminal activity, and death due to a high-risk activity, such as skydiving, and war or acts of terrorism.
Are accident insurance policies worth it?
If an accident results in medical expenses your current health insurance doesn't cover, accident insurance can serve as a financial cushion should the unexpected happen. Accident insurance also helps complement disability insurance by allowing you to claim benefits even if your injuries don't keep you out of work.
Does accident cover gallbladder surgery?
Gallbladder surgery typically is covered by health insurance. For patients covered by health insurance, out-of-pocket costs typically consist of a specialist copay, possibly a hospital copay of $100 or more, and coinsurance of 10% to 50% for the procedure, which could reach the yearly out-of-pocket maximum.
How much whole life insurance can you get for $9.95 a month?
Coverage AmountsIndividual Whole LifeGuaranteed Acceptance Life $9.95 PlanCoverage Amounts:$10,000 up to $50,000Purchased in Units of 1-15 $9.95 per unitOct 18, 2022
Can I cash out my colonial life insurance policy?
Policy withdrawals/partial surrenders are available on universal life policies only. If your policy is not a universal life policy and you request a withdrawal, we will process the request as a policy loan.
How much does a $1000000 whole life insurance policy cost?
How Much Is a $1 Million Life Insurance Policy? The cost of a $1,000,000 life insurance policy for a 10-year term is $32.05 per month on average. If you prefer a 20-year plan, you'll pay an average monthly premium of $46.65.
Does normal life insurance cover accidental death?
Life insurance covers most causes of death, including natural and accidental causes, suicide, and homicide. However, some caveats may prevent your beneficiaries from receiving their payout.
Do I need accident insurance if I have life insurance?
You don't need AD&D insurance if you have life insurance, but it's a good complement to your policy if you can afford it. An AD&D policy is a low-cost way to add some extra protection against unexpected injuries.
Personalized benefits
Benefits can be complex — and we’re here to help. During our 1-to-1 benefits counseling sessions we review your benefits options to make sure you’re covered the way you should be for life’s unexpected moments. We’ll give you personalized recommendations and answer any of your questions so you can make the best decisions for you and your loved ones.
Employees see the value
We constantly monitor our service through regular surveys to learn how we can continually improve your experience.
Make the easy choice
Sign up for a benefits counseling session today. You’ll feel great knowing that you’ve helped your family prepare for those unexpected moments that can happen in an instant. Contact your HR representative to learn more.
Is your health coverage enough?
Even the best health care plans don’t cover everything. You can still have out-of-pocket costs, such as:
Support for your family's wellness
With many of our policies, you could receive a payment simply for having certain types of wellness screenings and exams, such as cholesterol screenings, mammograms and many more.
What is the difference between confined and accident?
Confined or confinement means the assignment to a bed as a resident inpatient in a hospital on the advice of a doctor or confinement in an observation unit within a hospital for a period of no less than 20 continuous hours on the advice of a doctor.
How long does it take for a follow up to be covered?
Follow-up treatment must occur after initial treatment in a doctor’s office or emergency room and occur within 90 days of the covered accident.
How long does it take to get blood transfusions after a covered accident?
Must require the transfusion, administration, cross matching, typing and processing of blood/plasma/platelets and be administered within 90 days after the covered accident
How long after an accident must you receive blood transfusions?
Must require the transfusion, administration, cross matching, typing and processing of blood/plasma/platelets and be administered within 90 days after the covered accident Burn - Must be treated by a doctor within 72 hours after the accident
What is a covered accident policy?
The policy is designed to provide to covered persons coverage for losses resulting from injuries received from a covered accident only, subject to any limitations or exclusions. It does not provide coverage for basic hospital, basic medical-surgical or major medical expenses.
What was the leading cause of death in 2005?
Preliminary information indicates that in 2005, accidental injuries remained the ˚ fth leading cause of death.
How much does Colonial Life cover for travel?
Transportation $300 per trip up to 3 trips Lodging $100 per night up to 30 days
How far from the residence of the covered person must the hospital be?
Payable for a companion’s motel/hotel stays during the period of time the covered person is confined to the hospital. Hospital must be more than 100 miles from the residence of the covered person
How long does it take to get surgery after a covered accident?
Must require surgery or the removal of a foreign object by a doctor within 90 days after the covered accident. An examination with anesthesia will not be considered surgery.
How long after an accident must you receive blood transfusions?
Must require the transfusion, administration, cross matching, typing and processing of blood/plasma/platelets and be administered within 90 days after the covered accident Burn - Must be treated by a doctor within 72 hours after the accident
How long does it take for a follow up to be covered?
Follow-up treatment must occur after initial treatment in a doctor’s office or emergency room and occur within 90 days of the covered accident. Benefits payable for three visits per covered accident.
What is a common carrier?
Common Carrier means: commercial airplanes, trains, buses, trolleys, subways, ferries and boats that operate on a regularly scheduled basis between predetermined points or cities. Taxis and privately chartered vehicles are not common carriers. If we pay this benefit, we will not pay the Accidental Death benefit.
Is Medicare Supplement a policy?
THE POLICY IS NOT A MEDICARE SUPPLEMENT POLICY. If you are eligible for Medicare, review the Guide to Health Insurance for People with Medicare available from the Company.
What Does an Accident Policy Help Cover?
When a accident occurs, there can be a great deal of treatment fees that exist outside of hospital bills. Aflac pays you cash benefits directly (unless assigned), which can be used for any of these services:
What is Supplemental Accident Insurance?
Supplemental accident insurance is meant to be purchased in addition to your primary policy. It helps pay the bills that your major medical insurance doesn’t completely cover. This helps provide peace of mind when new and unexpected injury costs occur. Aflac works by paying benefits regardless of your current plan.
What is optional riders?
The policy has limitations and exclusions that may affect benefits payable. Refer to the policy for complete details, limitations, and exclusions. For costs and complete details of the coverage, please contact your local Aflac agent.
Why do we pay cash benefits?
We pay you cash benefits in the event of a covered injury, so you can focus on recovery instead of your finances. Life can change in a second. Be ready. Accidents happen. Financial hardship doesn't have to. We pay you cash benefits in the event of a covered injury, so you can focus on recovery instead of your finances.
What does "actively serving" mean?
Being involved in war or any act of war, declared or undeclared; or. Actively serving in any of the armed forces, or units auxiliary thereto, including the National Guard or Reserve. (We will return the premium paid during such service, and upon termination of military service, you have the right to renew coverage.)
What is considered self-inflicted injury?
Intentionally self-inflicting a bodily injury, or committing or attempting suicide, while sane or insane; Having cosmetic surgery or other elective procedures that are not Medically Necessary; Having dental treatment except as a result of Injury; Being exposed to war or any act of war, declared or undeclared; or.
Does Aflac have a plan?
Depending on your family size, location, and coverage goals, Aflac has a plan to help meet your needs.
What insurance company was the first to offer accident and cancer insurance?
Colonial Life Insurance was also one of the first insurance companies to offer accident and cancer insurance, and many of its policies are designed to supplement an employee’s primary medical insurance policy.
What is Colonial Life and Accident Insurance?
Colonial Life and Accident Insurance offers a full suite of life insurance products to small, mid-sized and large companies. It was one of the first insurance companies to take advantage of a change to the tax code allowing individuals to deduct benefits from their income pre-tax.
How many reviews does Colonial Life have?
Colonial Life & Accident had 75 customer reviews on ConsumerAffairs.com, the majority of which were negative. Most frequently, customers complained of poor customer service and said the company would exploit any loophole it could to avoid paying for services.
How long does it take to pay out a life insurance policy?
There’s no set time frame for an insurance company to pay out a life insurance policy, although 30 to 60 days is typical if a death certificate is submitted in a timely fashion. Many states allow insurance companies 30 days to review the claim.
What is insurance editorial guidelines?
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
What is Dan a mentor?
He is an expert in insurance and personal finance, known for creating web portals that connect people to resources to help them meet their goals. As a mentor and leader to many, Dan strives to position himself and those around him for success. Experience Dan graduated in 2000 with a degree in Nuclear Medicine.
When did Unum buy Colonial Life?
Purportedly, Colonial Life’s first sales team was all women. Unum, a Fortune 500 insurance company, acquired Colonial Life for $571 million in 1993.
