Accident Insurance | TransAmerica

Accident Insurance | TransAmerica
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Accident Insurance

Helps ease the financial impact that comes with unexpected accident expenses.

 

Enrollment is only allowed for new hires, at annual enrollment, or when you have a qualifying life event.

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Here's what you need to know

Accident Insurance is a valuable financial resource if a covered accident takes you (and your budget) by surprise.

 

No one plans to be injured in an accident – they always happen without warning. You can, however, be prepared for the unexpected expenses associated with an accident by enrolling in Accident Insurance. Once you’re enrolled in this insurance, you’ll be better prepared with an added cushion of financial security that’s specifically designed to help take the sting from your accident-related bills. 

 

  • Pays a benefit for you to use however you want
  • The payment is made directly to you (unless otherwise assigned)
  • It can help pay out-of-pocket expenses related to medical care associated with covered accidents 
  • In addition to medical care, you may use it to pay for things like childcare, lodging, or over-the-counter medication

 

You can collect this benefit in addition to other coverage you have, including your employer’s major medical plan, any other type of medical coverage, disability insurance, or other benefits you may be eligible to collect. However, it is NOT a substitute for these coverages and does not meet minimum essential coverage as defined by federal law.

Healing from an accident injury can be costly to your budget in 2 ways:

 

  • Bills. Accidents may have unexpected out-of-pocket costs that take you by surprise. The list includes deductibles, copays, and any expenses that aren’t covered at all. All of these can put a serious dent in your savings.  
  • Lost wages. Your accident recovery could mean taking time out of work – either a little or a lot, depending on your needs. Or a family member might need to take time off to drive you to medical appointments or assist you in other ways. Either could impact the paycheck your family may rely on to keep everything on track. No one wants to struggle to pay regular bills with a reduced income while on the mend.
     

You may use your Accident Insurance benefits any way you choose. It’s 100% your call how to spend the money you receive, without limitations or approvals from your major medical insurance. You can use it to help pay for medical expenses or non-medical expenses – anything that becomes a financial concern if you lose income while you’re out of work.

 

Access to this insurance can help you financially while you recover from your accident. Having less financial worry can mean a more positive mindset for focusing on your recovery.

These are the periods when you are eligible to enroll for Accident Insurance:
 

  • Within your new hire enrollment period 
  • If you have a qualifying life event (you get married, have a baby, etc.)
  • During your employer’s annual enrollment 

 

Check with your employer’s human resources/benefits team for specifics about these timeframes.

 

Keep in mind: If you enroll during these timeframes, you have what is called "guaranteed issue," which means you may qualify for Accident Insurance without answering health questions. You must have this insurance in place before an accident happens in order to be eligible to collect the benefit when you need it.  

These form(s) are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing.

 

Plan Overview
Accident Certificate

How It Works

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You enroll in Accident Insurance 

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After Insurance is in effect, you are injured in a covered accident 

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Receive a benefit payment

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Use your money however you want

You are injured in a covered accident.

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That’s when Accident Insurance comes in.

Because you have Accident Insurance, you get a cash benefit payment you can use for out-of-pocket expenses – or even put toward regular monthly bills.

Frequently Asked Questions

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  • Who is the provider?

    Transamerica Life Insurance Company

     

    With 90 years of experience in providing employee benefits, Transamerica is committed to helping people protect what matters most. We are on mission to help employees pursue a more secure financial future so they can live their best lives. And we’re here to provide support every step of the way.

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  • When is a benefit paid under the policy?
    Once your insurance is effective, you’ll receive benefits for a covered accident. These benefits vary by state and may have other limitations and exclusions that may affect what’s payable. Refer to the policy documents for complete details.
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  • Who in my family is eligible for this insurance?

    All regular employees working 20 hours or more per week and eligible family members.

     

    Eligible family members are defined in the Participating in Healthcare Benefits section of our Summary Plan Description.

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  • How much does this insurance cost?

    This is group insurance offered at group rates. Refer to the policy documents for complete details. 
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  • Do I have to answer health questions or take a medical exam?

    No. If you enroll during your eligible enrollment periods, you have "guaranteed issue," which means you may qualify for insurance without answering health questions.
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  • What if my employment status changes?

    Good news! If you leave or retire from your current employer, you can continue your insurance without interruption (subject to applicable law and the policy's terms and conditions). Although payroll deduction will no longer be available, you can opt for other payment methods such as direct bank account deduction, credit card billing or home billing. Higher rates may apply. 
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  • When would my insurance start?

    Your Accident Insurance is effective on the first day of the month after the enrollment certificate is signed. 
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  • Am I really free to use the payment any way I choose?

    Yes, you are! There are no restrictions or requirements about how you can use your accident cash benefit. Accidents aren’t something you can plan for – but you can be prepared with extra cash when one catches you off guard. You’re free to use this money on anything you choose, including out-of-pocket medical expenses and/or non-medical expenses. It can feel empowering to have this kind of flexibility.

This is a brief summary of AccidentAdvance® accident insurance underwritten by Transamerica Life Insurance Company (TLIC), Cedar Rapids, Iowa. TLIC is not an authorized insurer in New York. Policy Form Series CPACC100 and CCACC2MI-0118. Forms and numbers may vary. Insurance may not be available in all jurisdictions. Limitations and exclusions apply. Please refer to the policy, certificate, and riders for complete details.
EB2 264022R1 S 08/24

Are you ready To Enroll?

Act now to elect Accident Insurance to help offset expenses that may not be covered by other insurance plans.
Enroll Now

Enrollment is only allowed for New Hires or during Annual Enrollment or a Qualifying Life Event.

 

Do You Need Help?

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Phone Number: 1-800-626-9069