Accident & Cancer Insurance
What is Accident Insurance and How Does It Work?
Accident insurance plans are purchased like other types of insurance plans. You will pay a premium for your coverage, which will vary based on your location and the specific plan you choose. At eHealth, we offer a variety of accident insurance plans in every state. One of our licensed brokers will be happy to help you find the best plan for your specific needs and budget.
What does accident insurance cover?
Accident insurance covers qualifying injuries, which might include a broken limb, loss of a limb, burns, lacerations, or paralysis. In the event of your accidental death, accident insurance pays out money to your designated beneficiary. While health insurance companies pay your provider or facility, accident insurance pays you directly.
Accident insurance is considered supplemental insurance and is most helpful when it is used in combination with a major medical plan. Your accident coverage will take care of expenses not covered by your medical plan, such as copayments and your deductible. It will also cover non-medical costs like mortgage or rent, utility bills, and other daily expenses.
What is Cancer Insurance?
A cancer insurance policy is an insurance policy that pays a lump sum if the policy holder is diagnosed with cancer. These plans have payouts that typically range from $5,000 to $200,000 (plans with higher payouts have higher premiums).
Cancer insurance policies are similar to critical illness plans, but are limited to cancer diagnoses, rather than the broader array of illnesses that are covered under critical illness plans.
Cancer insurance policies are not designed to serve as stand-alone coverage; they’re intended to supplement a regular major medical health insurance plan. The money from the cancer insurance policy can be used to cover out-of-pocket costs under the major medical plan, as well as other expenses that arise during cancer treatment, like lost wages and the cost of traveling to treatment facilities.