Accident And Sickness Insurance
What Does Accident And Sickness Insurance Mean?
Accident and sickness insurance provides protection to policyholders by compensating for income losses resulting from an accident or illness that prevents them from working. Similar to disability insurance and workers’ compensation, it offers a monthly benefit to replace the lost income.
Insuranceopedia Explains Accident And Sickness Insurance
Health insurance covers healthcare expenses but typically does not compensate for income lost due to accidents or illnesses. For instance, someone diagnosed with a chronic illness, such as cancer, might lose their income while undergoing treatment and recovery. Accident and sickness insurance helps address these financial challenges by providing coverage for various accidents and illnesses. It can also serve as a supplement to Social Security disability insurance or workers’ compensation.
