COLUMBIA, S.C. (June 10, 2002)
–– The newest accident insurance plan from Colonial Supplemental Insurance has
shot past the $2 million mark in sales premium in just seven weeks since its release. More
than $ 1.5 million of that total was sold in May alone.
The accident insurance plan is sold through payroll deduction at the worksite and is
available in 43 states this month.
“This quick success proves the need for an affordable family accident protection
plan,” said Monica Francis, Colonial’s product director. “This product
helps families prepare for the unexpected by providing a choice of indemnity benefits for
on- and off-the-job accidents.”
More than 28 percent of all injuries resulting in emergency department visits occur at
home, according to the National Safety Council (Injury Facts, 2000 edition). Approximately
22 percent of these visits are the result of a sports-related activity for people between
the ages of five and 24 (National Hospital Ambulatory Medical Care Survey, National Center
for Health Statistics, 2001). The National Safety Council also names the worksite as a
typical accident location: An on-the-job accidental injury takes place every eight
seconds.
Colonial’s new accident product is designed to help employees pay for covered
accidental injuries by providing a variety of care and treatment benefits, including
initial care, treatment and follow-up care. New benefits include coverage for catastrophic
accidents, emergency dental work, and transportation and lodging. The product also
features higher benefit amounts than previous plans for hospital admission and hospital
confinement.
This accident plan is a guaranteed renewable product that provides a choice of coverage
levels. Plans are available for employees, their spouses and children, as well as
dependent coverage for one-parent and two-parent families. Multiple coverage options allow
employees to choose coverage based on their individual needs. For example, an
employee’s spouse or child can be covered whether or not the employee is covered
under the plan, and the plan pays the benefits regardless of any other insurance the
person may have with other insurance companies. In addition, Colonial coverage is
worldwide and portable. Colonial Supplemental Insurance is the marketing brand of Colonial Life & Accident Insurance Company. Colonial is a market leader in benefits communication, enrollment and customer service while providing supplemental insurance to employees and their families at the worksite. A subsidiary of UnumProvident Corporation, Colonial is based in Columbia, S.C. and operates in 49 states, the District of Columbia and Puerto Rico. Colonial underwrites a broad line of insurance coverages, including personal accident and sickness, disability, life, cancer and critical illness insurance policies. Similar products, if approved, are underwritten in New York by a Colonial affiliate, The Paul Revere Life Insurance Company. For more information about Colonial’s products and services or opportunities with the company, call (803) 798-7000 or visit www.coloniallife.com.
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