Transamerica Life Insurance Company

 

This is a summary of AccidentAdvance^®, Accident Insurance underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa Policy form series CPACC100 and CCACC100. Forms and form numbers may vary. Limitations and exclusions apply. Refer to the policy, certificate and riders for complete details.

Most families don’t budget for the costs associated with accidents. When an accident does occur, the last thing on your mind is the charges accumulating while at the emergency room:

• Ambulance ride
• Casts
• Use of the emergency room
• Wheelchairs
• Surgery and Anesthesia
• Crutches
• Stitches
• Bandages

These costs can add up fast. Most families have medical insurance that will cover a majority of the expenses. But, what about the out-of-pocket medical expenses, such as lost wages an employee or spouse/domestic partner loses when out of work or staying home to care for an injured family member? You hope that an accident never happens, but at some point you very well may take a trip to your local emergency room. If that time comes, wouldn’t it be nice to have an insurance policy that pays you a benefit regardless of any other insurance you have?

All regular employees working 20 hours or more per week and eligible family members.

 

Eligible family members are defined in the Participating in Healthcare Benefits section of our Summary Plan Description.

As a new hire, you can enroll for guaranteed issue coverage during your new hire enrollment period. Outside of the new hire enrollment period, you can enroll for guaranteed issue coverage during Stryker’s annual enrollment period or within 30 days of a qualifying life event.

When you leave or retire from Stryker, you can continue your insurance without interruption, subject to applicable law and the policies' terms and conditions. Although payroll deduction will no longer be available if you retire or leave Stryker, you can opt for other payment methods such as direct checking or bank account deduction, credit card billing or home billing. Higher rates may apply.

 

Upon receiving notice of an employee's termination status from Stryker, Transamerica will generate a portability letter that will outline options to continue coverage and pay premiums directly to Transamerica.

No, your rates will not increase due to age, health or individual claims.

No! For the initial annual enrollment period, new hires added throughout the year, and for qualifying life events, this insurance is guaranteed-issue (which means you may qualify for insurance without having to submit to a medical exam or answer health questions).

 

Once you’re enrolled in this insurance, you’ll collect benefits for various covered events, including:

Fractures Dislocations Second and third degree burns Skin grafts Torn knee cartilage

Concussions Cuts/lacerations Eye injuries Coma Broken teeth

 

You’ll also receive a lump-sum payment when you have these covered medical services/treatments:

Ambulance Emergency care Inpatient surgery Outpatient surgery Medical Testing Benefits including: X-rays MRIs CT scans

Physician follow-up visits Transportation Home modifications Therapy services including: Physical and occupational therapy

For additional details, please refer to the 2023 Plan Summary.

For limitations and exclusions, please refer to the 2023 Plan Summary.