BELLEVUE, Wash.--(BUSINESS WIRE)--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 that can 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 who 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 who tend to opt for per occurrence accident coverage are looking for added financial protection for accidents that tend to be more common and who 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 type 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 percent 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.
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation, a diversified financial services company based in Bellevue, Washington. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent agents and advisors. For more information, visit www.symetra.com.
Select Benefits insurance policies are insured by Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004, and are designed to provide benefits at a preselected, fixed dollar amount. Policy form number is SBC-00500 8/12 in most states. Products are not available in all states or any U.S. territory.
The policies are not a replacement for a major medical policy or other comprehensive coverage and are not intended to cover the cost of all hospital or other medical services. The policies do not satisfy the requirements of minimum essential coverage under the Affordable Care Act.
Accident coverage is designed to pay benefits up to a preselected, per occurrence amount for eligible expenses related to an accidental injury. It is not a replacement for a major medical policy or other comprehensive coverage and does not satisfy the minimum essential coverage requirements of affordable Care Act. Policy form number is LGC-10011P 10/11 in most states and is not available in all states or any U.S. territory.
Scheduled benefit accident is a group accident insurance policy. Policy form number is SBC-03510 1/18 in most states and is not available in all U.S. states or any U.S. territory.