Accident and Sickness Insurance

Published: | Updated: December 4, 2016

Definition - What does Accident and Sickness Insurance mean?

Accident and sickness insurance is insurance that protects policyholders from losses of income due to being involved in an accident or getting a sickness that forces the person to stop working. It is similar to disability insurance and workers compensation in that it pays out a monthly benefit to replace the lost income.

Insuranceopedia explains Accident and Sickness Insurance

Health insurance covers the cost of health care expenses. However, it typically does not cover losses in income due to accidents or illnesses. Thus, a person who develops a chronic illness, such as cancer, could lose their income while fighting to recover. Accident and sickness insurance aims to alleviate these financial problems with coverage for a number of accidents and illnesses. It can supplement social security disability insurance or workers compensation.

How Well Do You Know Your Life Insurance?

The more you know about life insurance, the better prepared you are to find the best coverage for you.

Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.

Share this: