Who buys accident insurance and is it worth it?
Accident insurance is most valuable for: (1) people with high-deductible health plans where a single ER visit can cost $5,000+ before insurance kicks in, (2) families with active children (sports injuries, ER visits), (3) people without strong emergency savings, (4) workers in physical jobs with injury exposure, (5) individuals on tight budgets where a single accident could financially destabilize the household. It's less essential for: people with low-deductible health plans, robust emergency savings, and no dependents. Premiums are typically modest ($15–$50/month for individual or family coverage), and benefits are paid quickly after an injury without the documentation friction of major medical claims.
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- Pre-purchase guidance
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- Personal Insurance
Related FAQs
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This is the most important question and the most-overlooked one at enrollment. Marketplace plan summaries don't tell you network depth. The right move: get the list of every provider you currently see (PCP, specialists, dentist, mental health), call each one, ask "do you take [Plan Name from Carrier X for the current plan year]?" — and confirm the *specific plan*, not the carrier. Carriers offer many plans on different networks (e.g., HMO, EPO, PPO, narrow network) and a doctor accepting…
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For most term policies above $500K, yes — a paramedical exam (height, weight, blood pressure, blood draw, urine sample) at home or in an office. **No-exam (simplified or accelerated) underwriting** is increasingly available for healthy applicants under age 50–55 buying $500K–$2M of term, often with an answer in 1–7 days. **Guaranteed-issue** policies (no health questions, no exam) exist for older applicants but cap face value at $25K–$50K and are expensive per dollar of coverage. We pre-screen the underwriting category at…
Read answerDoesn't Medicare cover long-term care?
No, and this is the single most-misunderstood point in retirement planning. Medicare covers up to 100 days of **skilled nursing care** following a qualifying hospital stay (with cost-sharing after day 20). It does **not** cover custodial care — the day-in-day-out help with ADLs that constitutes the vast majority of long-term care needs. Medicaid covers long-term care, but only after you've spent down most of your assets. This is why people who want to control where and how they receive care,…
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