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Life Health > Life Insurance

Colonial Adding Accident Policy

By Staff Writer

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NU Online News Service, Mar. 11, 12:39 p.m. – Colonial Life & Accident Insurance Company, Columbia, S.C., is getting ready to introduce a new accident insurance plan aimed at the worksite.

The plan, which will be released in more than 30 states in April, will provide guaranteed renewable indemnity insurance benefits for workers, their spouses and their children, Colonial says.

Workers can buy protection against bills from off-the-job accidents, or coverage for accidents suffered both on and off the job.

Other benefits include coverage for catastrophic accidents and emergency dental work.

One optional rider provides up to 12 months of disability income insurance for insureds who are unable to work due to illnesses or injuries.

A second rider provides disability income insurance for workers who are unable work due to covered accidents, and a rider provides up to $3,000 in hospital benefits.

Colonial is simplifying worksite enrollment by offering the plan to composite rates, without “age bands” or “risk bands.” Colonial is offering the basic plan to applicants up to age 80.

Some features, such as the disability income protection riders, may not be available to workers’ children or to workers over age 67, Colonial says.

Colonial is a unit of UnumProvident Corp., Chattanoga, Tenn.

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