What happens if you have an accident on your bike, and are seriously disabled, or killed? Even with good medical insurance, how will your living expenses be covered? What will happen to your family?
Many cyclists are concerned about this, including an avid and adventuresome cyclist from Richmond, with 23 years in the insurance business. Jay Paul writes:
“Most of our cycling brethren have health insurance. Those who don’t have coverage now will in all likelihood be forced to obtain coverage under 2010 Health Care Reform Legislation within a couple of years. Because of this, I was not overly concerned with Major Medical issues. I was most concerned with cognitive impairment, paralysis, death, and in-hospital stays. These medical scenarios are what scare me and most of the cyclists with whom I have spoken. Personally I am most concerned with paralysis and cognitive impairment as either of these conditions could financially ruin most of us who otherwise have relatively secure financial houses even if they have strong medical insurance coverage.
I saw a need for inexpensive coverage that would pay for things like Para transit vehicles, home modifications, in house nursing, motorized wheelchairs, and other expenses not covered by major medical insurance. These expenses could financially ruin an individual or family who previously had enjoyed the trappings of a middle or upper class American home dependent on current income.”
So Jay and his company, Affinity Group Underwriters, are creating an insurance product to address this need. But they need your feedback about benefits and pricing. Please take the time to complete a survey, and read about the proposed benefits.