Student Accident Insurance – The Policy You Need
There are many reasons why student accident insurance may be the most important purchase you ever make. This is true whether you represent a school, youth organization, or are a student yourself.
Accidents can have lifelong consequences. These can derail a young and promising career or even devastate whole families.
Thus, adding an additional layer of protection to whatever insurance the student may have can make the difference. This difference is living between being able to continue a productive life. Or struggling to deal with the consequences of the accident for the rest of their life.
What Is Student Accident Insurance?
Student accident insurance is a policy offered as a blanket policy for a group or organization or as a private plan.
This insurance provides a defined benefit to supplement or augment other insurance that the student may already have. Thus, it will supplement an unforeseen accident that results in serious injury or disability
Why Student Accident Insurance Matters
The important thing to consider about student accident insurance is that it is often not mandatory. This means that no government entity will enforce it. Such is the case with car or health insurance. But, it also means that it is a crucial investment that many people don't consider until it is too late.
Research shows that student-athletes, for example, are at a much higher risk of hospitalization and disability than other students. Even everyday activities such as hiking, biking, or regular gym visits can result in visits to the emergency room. Are you prepared when the unexpected becomes a tragic reality?
Health Insurance Or Auto Insurance May Not Be Enough
Some health or auto insurance plans are not comprehensive enough to cover soaring medical costs. Many plans that cater to students have raised deductibles and lowered total payouts for a single incident. This is to keep premiums affordable to students.
Over 75% of families who file for bankruptcy report medical debt as the main cause even though they had medical insurance coverage.
It is easy to write-off insurance as necessary when you are young and healthy. But, if for any reason medical insurance if insufficient or unavailable then it is doubly important that you cover yourself. Accidents could happen to anyone at any time.
Why Is the Student Accident Coverage Needed?
You need to know these things:
- In the US, unintentional injury is the number one child killer.
- Medical expenses for school-related injuries sum up to $3.2 billion every year.
- Medical policies rarely offer comprehensive coverage.
- Over 775,000 recreation or sports-related injuries happen per year for children under the age of fifteen.
- 2 million children sustain injuries at school every year.
- 40 million US people are not covered by medical insurance.
What to Look for in a Student Accident Policy
Consider these facts when you choose your student accident insurance policy:
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Fully Customizable Plan Design
You want to choose a plan that is perfect for you, based on school-sponsored activities. This can include any combo of interscholastic sports, class-time, gym classes, extra-curricular activities, after school care, intramural sports and more. The coverage you choose needs to include travel.
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Interscholastic Sports Coverage
This should be the case without or with football tackling. The coverage that you get needs to include scrimmages, off-season training, practices, and actual games. In addition, try to get coverage for sprains, heat exhaustion and similar injuries.
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Extra Coverage for Extra-Curricular Activities
Aim for coverage for camps, summer programs, volunteer programs, and even field trips.
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Higher Limit
Preferably, opt for coverage of up to $5 million when accidental medical intervention is needed and over $10,000 for individual incidents.
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Cost-Savings
Cost-saving options exist with many student accident insurance policies. This includes medical sub-limit, deductibles, and coinsurance.
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Extra Catastrophic Coverage
You opt for this when you pay an extra high limit fee. As a result, you are covered in the event that the injury causes paralysis, brain death, coma, and many other body failures.
You should also know that student accident insurance covers the needed expenses for treatment only based on policy terms and conditions. Basically, financial coverage is denied when policies are not in place.
An Investment No Student Can Do Without
Student accident insurance may seem like it will come at a significant cost that will be tough to shoulder. But, the potential costs of going without it are more ruinous.
Take the opportunity to take a closer look at insurance plans that are available to you and you may find that it is more affordable than you think. It is an investment in yourself or your students that will pay dividends in the years to come. They are free to live their lives without fear or anxiety, prepared for when the worst happens.
