Mutual of Omaha has launched a new accident product that allows employers to enhance their benefits coverage, while providing employees with added protection if an accident occurs.
The company said that the accident insurance supplements medical coverage and provides a cash benefit for injuries sustained from an accident. The benefit can be used to pay out-of-pocket medical expenses, supplement daily living expenses, cover lost income for unpaid time off work, and safeguard finances.
Mutual of Omaha noted that its product:
- Provides an express benefit, which pays a benefit upon notification of an accident, without proof required for a full claim
- Provides coverage tiers so individuals can tailor benefit amounts to meet their needs
- Pays a lump-sum cash benefit regardless of other insurance coverage
- Complements a high deductible health plan
- Provides 24-hour and off-job coverage
- Offers optional features such as family care, catastrophic coverage, and health screenings
“Health care reform and rising health care costs have made a significant impact on the employee benefits market,” said Marty Traynor, vice president of voluntary benefits within Mutual of Omaha's benefit solutions division. “Many employers have been forced to shift more medical benefit expenses to their employees. Our accident insurance provides a solution to fill the gaps in health coverage.”
Learn more: www.mutualofomaha.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].