LifeSecure Insurance Company Launches New Personal Accident Insurance Product

Accidental injury coverage features Disappearing Deductible, expense reimbursement

Sep 28, 2011, 11:30 ET from LifeSecure Insurance Company

BRIGHTON, Mich., Sept. 28, 2011 /PRNewswire/ -- LifeSecure Insurance Company today announced that on Friday, Sept. 30, it will release its Personal Accident Insurance (PAI) coverage, a new product that reimburses policyholders for expenses resulting from an accidental injury regardless of their traditional insurance coverage. The product also includes the Disappearing Deductible feature, which eliminates the deductible after five claim-free years. The new product will be available in many states and is pending approval in others.

"At a time when individuals are paying higher deductibles and more out-of-pocket expenses, Personal Accident Insurance can be the perfect complement to traditional health care plans to help close the coverage gap," said Lisa Wendt, President and CEO of LifeSecure. "Without adequate coverage, the unexpected costs that result from accidents – whether they happen around the house, at work or on the sports field – can have a significant impact on an individual's financial stability. LifeSecure is proud to offer yet another straightforward, flexible and affordable solution that will help families protect their well-being and finances."

One out of every nine Americans each year seeks medical care due to injuries, according to the National Safety Council. One-third of children under the age of 14 who play organized sports have experienced at least one injury, according to Safe Kids USA.

LifeSecure's PAI coverage protects both individuals and families from out-of-pocket expenses following an accidental injury. Unlike other personal accident plans, LifeSecure's PAI coverage does not have a pre-determined schedule of benefits and expense reimbursements are made directly to the policyholder. It is designed to be complementary, yet independent of health insurance coverage.  PAI benefits can be used to cover medical and recovery costs or lost wages and other personal expenses if medical costs are covered by another insurance plan.

Like the company's innovative long-term care insurance and hospital recovery insurance, PAI coverage is based on a straightforward product design. Policyholders can choose their Annual Benefit Bank, which ranges from $1,000 to $15,000 for individuals and $25,000 for families, and a deductible of $100, $250 or $500. Benefit amounts automatically renew at the beginning of a new calendar year.

Under the product's Disappearing Deductible feature, a policyholder's deductible will decrease by 20 percent each year that no benefits are received. If no benefits are payable after five consecutive calendar years, the deductible is eliminated. The deductible will reset if a claim is made within the five years that it is reducing. Once the deductible is eliminated, however, it will never reset.

In keeping with the company's product development strategy, the online sales support process also includes a simple application process and online Budget–Point Pricing(SM), which allows policyholders to match their insurance needs with their personal budget.

"This new product maintains our commitment to using innovative technology and providing uncomplicated policies," Wendt said. "Our online resources and service give our policyholders peace of mind by allowing them to easily tailor their coverage to fit their needs, and streamlines and simplifies the process to make doing business easier for our agents."  

To find out more about the new PAI product or to become an appointed agent with LifeSecure call (810) 220-8770.

About LifeSecure Insurance Company

LifeSecure Insurance Company is based in Brighton, Mich., and is dedicated to providing uncomplicated insurance and non-insurance solutions to help people protect themselves from unforeseen health-related risks and expenses. Our guiding business philosophy is focused on delivering "easi:" expertise, accessibility, simplicity and innovation – both to our business partners and to consumers. The company is licensed in 43 states and Washington, D.C., and its insurance products are sold through a network of independent marketing organizations, brokers and agents. Additional information is available at

Contact: Chris Spittal

SOURCE LifeSecure Insurance Company