12 Days of Santa’s Insurance- Day 7
Raising reindeer, managing a massive toy workshop, and flying around the globe is pretty risky. Not to mention living in a frozen tundra where ice skating – and not the fun kind – is a given. That’s why Santa should consider personal accident insurance coverage.
With a track record beyond reproach, Santa appears to have a lock on luck. But with so many children – and grownups– depending on him, he’d be smart to make sure he’s protected in case of a sleigh-stopping accident or injury.
In honor of day seven, these are seven things Santa should know about a personal accident policy:
- The policy covers accidental medical expenses while traveling, temporary or permanent disability due to accident, and accidental death.
- Benefits may be used to cover any costs you incur as a result of your accident. This can include counseling, rehab, and what’s not covered by your health insurance.
- Typically medical underwriting is not required. This a viable option if you’ve been refused life insurance in the past.
- Policyholders can choose how to receive their benefit. They may receive a lump sum payout to help with upfront medical expenses, or an ongoing monthly compensation to help with long-term expenses.
- It’s low cost. A policy can be as little as $15 a month depending on factors like where you live, your age and how much coverage you’d like. Santa, however, poses a higher risk factor and these considerations will raise his monthly premium.
- Although toy-making is generally considered a “medium” occupation risk category, flying a sleigh to deliver them is not. There is increased risk given the types of places Santa will be traveling, his age, and due to the type of vehicle he is flying. Also, squeezing down the chimneys of people you don’t know in the middle of the night is typically not recommended.
- Personal Accident Insurance provides peace of mind. Accidents can happen, especially if your profession includes living in frigid temperatures and facing potentially dangerous situations. Stay jolly Santa! We’ve got you covered.