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UNM Unum Group

51.62
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Last Updated: 12:00:00
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Share Name Share Symbol Market Type
Unum Group NYSE:UNM NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 51.62 1 12:00:00

Summer “trips” lead to accident claims

19/06/2017 3:08pm

Business Wire


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Sprains and dislocations top the list of Colonial Life accident insurance claims

Baseball games, the beach and the backyard: June’s warm weather brings more opportunities for outdoor activities. But it’s also a prime season for accidental injuries.

Whether it’s an ill-timed slide into second base or lost footing on a rocky path, sprains and dislocations are common occurrences — and not just in the summer. In fact, they’re the most common reason for accident insurance claims received by Colonial Life & Accident Insurance Company all year, according to 2016 company records.

The company’s top causes for accident claims include:

  • Sprains/dislocations: 20 percent
  • Arthropathies and related disorders (arthritis): 15 percent
  • Back injuries: 13 percent
  • Fractures: 10 percent

Those injuries can also hurt your wallet. Not counting health insurance, emergency room treatment for a sprained or broken ankle can cost $500 for a mild to moderate sprain — $2,500 or more for a fracture requiring a cast, according to costhelperhealth.com. At the same time, a new Employee Benefit Research Institute survey shows one in four U.S. workers and their spouses have less than $1,000 in savings — a potentially painful financial gap.

“Most people have some health insurance that will help pay medical expenses related to an accident, but today’s higher-deductible plans leave many people with sizeable out-of-pocket expenses,” says Steve Hesler, assistant vice president for product development at Colonial Life. “Accidents can also involve nonmedical expenses not covered by major medical insurance, such as lost income from not being able to work, travel for treatment or caregiver expenses.”

A voluntary accident insurance plan purchased at the workplace can help employees protect themselves and their families from this financial exposure. Voluntary accident insurance typically offers a wide range of coverage, including hospital admissions, emergency room treatment, doctor’s office and urgent care visits, surgery, medical imaging studies and X-rays.

Learn more about accident insurance on Colonial Life’s website or on Colonial Life’s benefits learning center.

About Colonial Life

Colonial Life & Accident Insurance Company is a market leader in providing financial protection benefits through the workplace, including disability, life, accident, dental, cancer, critical illness and hospital confinement indemnity insurance. The company’s benefit services and education, innovative enrollment technology and personal service support more than 86,000 businesses and organizations, representing 3.7 million of America’s workers and their families. For more information visit www.coloniallife.com or connect with the company at www.facebook.com/coloniallifebenefits, www.twitter.com/coloniallife and www.linkedin.com/company/colonial-life. Colonial Life is a registered trademark and marketing brand of Colonial Life & Accident Insurance Company.

Colonial LifeJeanne Reynolds, 803-678-6274jdreynolds@coloniallife.com

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