Accident insurance (& Racing...)
 

Does anyone have this type of supplemental coverage?

If so, and you were injured while training / racing, how did it work out for you?

you mean like short term disability? i have aflac through work. i havent had to use it and hope never to have to.

I used Adventure advocates through USAC partnership. The guys on the phone were super nice. Took me FOREVER to get reimbursed though (Forever = 2 years). Still, it was full coverage.

That's totally effed up.

for what?

i have health insurance via work to cover my medical concerns. i have a desk job pretty much these days so no matter what i break i should be able to work. later.

On work emails do you use a cute catch phrase like 'later.'?

IMHO, you don't wnat to spend money on a supplemental policy that covers you for only a limited range of risk, i.e. an accident, or an accident in a bike race.

From a financial planning point of view, you need health insurance, you need disability insurance, and if others depend on your income you need life insurance.

You need all these things regardless of whether you are killed or disabled by a bike wreck, or by cancer.

Thus buy appropriate levels of health, disability, and life insurance, and don't waste your money on supplemental accident insurance.

I already have ins. via work, and I even already have an accident policy by them.... I just wanted to know more about what people have to say regarding just supplemental accident insurance...

I spoke to a sales guy today and he was very convincing about his policy and they clearly state in their documentation that they will pay regardless of any other policies you may have.

Their premium was so low that it was silly.

but the point is if you have other insurance, you shouldn't be paying any premium. And if your other insurance isn't adequate, you need to improve that insurance.

It's akin to buying life insurance covering death from an airplane flight. Your surving spouse doesn't need more money if you die in a plane crash as oppossed to dying in a car crash.

If you have adequate health and disability insurance, you don't need a bike crash policy, and buying one at any cost is just wasted money.

I've got whatever short and long term disability that work provides (forget what the terms are); the only other insurance I've got is small term life insurance policy through State Farm that I took out about 10 years ago to get a multi-line discount on my auto premiums that negates the cost of the life policy.

I agree, these supplemental accident policies which cover certain activities are usually a waste of good $$.

The sales pitch worked for me, " just one visit to the ER pays for the policy itself (and) covers your primary insurance's out of pocket expenses such as deductibles" ...

wham. < necessary catch phrase.

Aflac is no good for bike racers. A training pal of mine from back home was recently involved in a bad crash during training, and she can't work for a while. She's a physical therapist but isn't so ambulatory herself at the moment. She didn't have an Aflac policy, but she looked into it to see if it would've helped her. Apparently, they have a stipulation that coverage is denied if you race a vehicle of any kind.

no i dont.

later.

Duly noted, the accident policy through my job also has many such stipulations, none of which include bicycle however it does state "competition that has a payout" is not covered...

If and how that specific type of information makes it to the claim process may vary by individual.

The supplementary accident policy does not have any such stipulations and thus I can rely on it for coverage in either case....

Does that explain the cost/benefit appropriately?

If there's an exclusion in your disability policy for racing, then there's a case for a supplemental policy. I would still tend to favor a better diasbility policy, than buying an accident only policy.