4 Reasons Seniors Should Consider Accident Insurance 

Nobody expects to get into a serious accident, especially if you’ve reached your golden years without any serious events. But accidents are unpredictable and can happen to anyone. Even a minor mishap can lead to complications that disrupt your routine and finances. While you can take precautions to lead a safe life, you can’t always avoid an unexpected injury, which is why it’s wise to be prepared. Read on to learn how accident insurance works and a few key reasons why seniors should consider this type of policy.  

How does accident insurance work? 

Accident insurance may be available through private insurance or as a workplace benefit from your employer. If you get this type of policy through your employer, you’d pay your monthly premiums through your paycheck. If you’re retired, you can still get an individual accident insurance policy and pay the monthly premiums yourself. Each policy is different and coverage levels may vary, but usually, a claim works like this: 

1. An accident occurs: You experience an accident, like a slip and fall or car accident, that requires medical attention. 
2. Submit your claim: You submit a claim to your insurance company with documentation from a doctor. 
3. Receive your payout: If the accident is covered, the insurance company pays you cash (unless benefits are assigned otherwise) based on the value of the policy. 

Why seniors should consider accident insurance 

There are several reasons why accident insurance may be a good idea for seniors: 

1. Accidents are more likely when you’re older 

Even if you’re retired and don’t participate in many risky activities anymore, that doesn’t mean you could never experience an accident. When your body isn’t quite as strong as it once was, you may be more prone to slips and falls, which can be more serious when you’re older.1

From worse balance to a propensity to get sleepy while driving long distances, aging tests a person’s confidence and abilities in new ways. Sometimes, this can result in accidents that may not have happened in your younger years. Accident insurance can give you a financial safety net so that you’re ready for the unexpected. 

2. It can provide extra financial support for those on a fixed income 

Many older Americans live their retirement on a fixed income. In fact, approximately 40% of older Americans rely solely on Social Security income in retirement.2 Life on a fixed income is practical when you know your living expenses and can meet them each month. However, in the event of an accident, you may have to pay healthcare deductibles and copayments, extra commuting costs to get to your physical therapy appointments, and many more unforeseen expenses. With accident insurance, you’ll have additional cash benefits to help manage those expenses. 

4. It can provide added peace of mind

No one wants to worry about how they’ll handle unexpected medical costs or disruptions to daily life. Accident insurance can provide you with added peace of mind, knowing that if something does go wrong, you’ll have coverage in place to help ease the financial burden. That sense of security can be especially important during your retirement years.

Is accident insurance worth it? 

You’ve seen some of the reasons why seniors might consider accident insurance, but you may now be asking, “is accident insurance worth it?” The answer to that question depends on your particular lifestyle and preferences. You might want to consider accident insurance if: 

• You lead a higher-risk lifestyle: If you stay active through activities like biking, hiking, or even regular driving, your risk of injury may be higher than average. Accident insurance can help you stay protected in case of the unexpected.
• You’re concerned about physical or cognitive decline: Aging can bring changes in balance, vision, memory, and reaction time. These can all increase the likelihood of accidents. Having accident insurance in place offers an added layer of protection as these changes occur.
• You’re concerned about the financial impact of an accident: Medical bills, physical therapy, and other costs can quickly add up after an accident. Accident insurance provides cash benefits that can help offset these unexpected costs.

The bottom line 

As you get older, you may be more prone to suffer an accidental injury. An accident insurance policy can help you pay for unforeseen expenses after you’ve been in a covered accident and give you additional peace of mind. Taking steps to help protect yourself now can help ensure you’re better prepared for the unexpected down the road. 

1 NHS Inform – Causes of falls. Updated March 26, 2025. https://www.nhsinform.scot/healthy-living/preventing-falls/causes-of-falls/. Accessed May 29, 2025. 

2 National Council on Aging – What Does Living On a Fixed Income Mean? Updated April 18, 2024. https://www.ncoa.org/article/what-does-living-on-a-fixed-income-mean/. Accessed May 29, 2025. 

Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent. 

Aflac Coverage

In Arkansas, Policy A37000AR. In Delaware, Policies A371AA & A371BA. In New York, Policy NY37000. In Oklahoma, Policy A37000OK. In Oregon, Policy A37000OR. In Pennsylvania, Policy A37000PA. In Texas, Policy A37000TX. In Virginia, Policies A371AAVA & A371BAVA. 

Coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, coverage is underwritten by American Family Life Assurance Company of New York.

Tier One Coverage

In Arkansas, Policy T37000ARR. In Delaware, Policy T37000. In Idaho, Policies T37100IDR, T37200IDR, & T37300IDR. In Oregon, Policy T37000OR. In Oklahoma, Policy T37000OK. In Pennsylvania, Policies T37000PA, T37300PA, & T37500PA. In Texas, Policy T37000TX.In Virginia, Policies T37100VA, T37200VA, T37300VA, T37400VA, T37600VA.

Coverage underwritten by Tier One Insurance Company. Tier One Insurance Company is part of the Aflac family of insurers. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (Tier One NAIC 92908). 

Aflac | Tier One Insurance Company | WWHQ | 1932 Wynnton Road | Columbus, GA 31999

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