Without a doubt, having insurance that supplements or takes care of your medical expenses when you’re ill makes sense. That’s not debatable. The question is, what do you do when an illness or accident incapacitates you for an extended period of time? As nice as your boss may be, not even the most agreeable will pay you to sit at home and recover for an undisclosed amount of time. If you’re replaceable, the best they can do is hire a temporary staff. So what happens to your income while you’re unable to earn? This is where accident and sickness insurance come in.
Ideally, an accident and sickness insurance cost iSelect offers supplemental coverage. It pays a fixed sum of money when you experience any of your covered accident related injuries. It can cover everything from medical bills not paid by your health insurance, to monthly income protection. If an illness or accident prevents you from being able to work, and keep up with your bills, the insurance will step in and ensure you’re covered. It’s like an extension of health care – but also caters to non health related expenses. The keyword with this is “accident”. Self inflicted injuries won’t be covered, and pre-existing injuries won’t be covered.
Is accident & sickness insurance worth it?
Honestly that depends on the type of plan you’re getting, versus the premium and your age. Accidents are called accidents for a reason,
no one knows what will happen, so it might be difficult narrowing down the specific incidences you’ll want to be covered for. Plus, the older you get, the more costly the premiums will be. The best accident and sickness insurance would usually pay out for long terms, an own occupation (in case you can’t work), offer deferred pay periods, and don’t discriminate against pre-existing medical conditions. Go big or go home right? If you’re going to opt in for an accident and sickness insurance, you have to get one that’s worth it.