Medcore Brokerage offers several individual and group accident insurance policies. To learn more about the features and benefits of each one, contact your Colonial Life sales representative.

Individual and group plans have pros and cons. Your Colonial Life sales representative can help you determine the best fit for your business and your employees.

Pros for individual plans include:

• Employee-owned and portable, so employees can keep their policies if they change jobs
• Guaranteed renewable in most states; rates stay stable
• No participation requirements or account-level rate increases

Individual plans may have stricter underwriting requirements and more limited rate flexibility, which leads to potentially higher rates.

Pros for group plans include:

• Employer-owned, so benefits apply to all eligible employees across state lines (based on situs state)
• Flexible underwriting with guaranteed-issue options
• More rate flexibility

Group plans may experience group-level rate increases and are ported or converted at higher rates. Minimum participation requirements are also common.

Accident insurance provides a benefit directly to employees if they are injured (may be on or off the job depending on the level of coverage) and need treatment, whether they go to a physician’s office, urgent care center or the emergency room.

The amount payable depends on the injury and the treatment received, usually a set amount for specific covered injuries or care.

They can use it any way they choose — for monthly bills, co-pays, deductibles or other expenses their medical plan doesn’t cover.