Symetra Life Insurance Company, a national provider of employee benefits, annuities, and life insurance, has expanded its group accident coverage to offer employers two plan options designed to help relieve some of the financial pressure that employees and their families may face after an accidental injury.
“Even when employers have a major medical plan, it can be tough for employees to meet their deductible, copay or coinsurance requirements. Because every employer group is different, a one-size-fits-all solution doesn’t always work,” said Todd Dzen, director of product management for Group Life & Disability. “Symetra’s two accident policies—per occurrence and our new scheduled benefit—are designed to help employers better meet their employees’ specific needs.”
Groups that typically choose scheduled benefit accident view catastrophic injury protection as a high priority and are likely to pair their accident product with additional supplemental health coverages, while groups that tend to opt for per occurrence accident coverage are looking for added financial protection for accidents that tend to be more common and have a high-deductible major medical plan in place.
Symetra scheduled benefit accident coverage pays a fixed-benefit amount after an accidental injury, based on the kind of injury or medical treatment incurred. Three plan options are available—Base, Classic and Premier. Each plan offers the same schedule of coverage, but at increasing benefit levels.
Symetra per occurrence accident coverage can help employees by paying for 100% of eligible services and supplies related to an accidental injury, up to the benefit limits.
Both policies offer customizable coverage options, and benefits are paid regardless of any other health insurance employees may have.
Symetra scheduled benefit and per occurrence accident coverage are part of the Select Benefits suite of fixed-payment and supplemental insurance products.