Supplemental Insurance

There are several types of supplemental insurance policies. These policies may assist with covering the costs associated with specific situations. For example: when you are diagnosed with cancer, your health insurance policy may pay your medical expenses, minus any deductibles and copays. But in addition, you may have costs due to transportation to treatment, loss of wages due to time off from work, or any other incidental expense. These supplemental plans pay directly to you for you to use as you find appropriate. They can offset the deductible and copays, and provide funds for other unexpected expenses.

Before buying any supplemental insurance plan, carefully review the plan to understand all the provisions and limitations.

Dental, Vision and Hearing

Dental Insurance typically covers a percentage of the following based on the plan chosen and the time the plan has been in effect.  Plans vary so be very sure you read and understand all the provisions of the policy summary of benefits..

  • Preventive Servuces (Evaluations, examinations, cleanings, and x-rays
  • Basic Services  (Amalgam and resin-based composite fillings, simple extractions, emergency treatment of dental pain, consultations and denture adjustment/repairs.
  • Major Services  (Deep sedation/general anesthesea for major services, crown services, oral surgery, composite fillings, periodontics, endodontics, and dentures.
  • Some Dental policies also include limited vision and hearing benefits
  • Check rates on available plans in your area.

Cash Benefit Cancer Plan

Cancer Insurance pays a cash benefit directly to you upon the diagnosis of cancer. Some Cancer Insurance policies will pay a lump sum cash benefit upon initial diagnosis and others will continue to pay over the course of treatment. Use the cash benefits from a Cancer Insurance policy to help with deductibles, mortgage payment, car payment, groceries, gas, cable bill, and any other daily living expenses you may have. Remember Health Insurance won’t write a check to your mortgage company but a Cancer Insurance policy can help.

The high incidence of cancer means that you or someone in your family may develop cancer at some point. And while your health insurance policy may cover a portion of physician, hospital, cancer therapy or prescription drug bills, it probably doesn’t cover them in full.

And your insurance isn’t likely to touch the other major costs of cancer, including loss of income, transportation, childcare, housekeeping and home nursing expenses. If you or another family member is unable to fulfill his or her usual responsibilities while ill, your family and your family’s finances could suffer greatly.

Critical Illness

If you’re lucky, you’ve probably never had to use critical illness insurance (sometimes called catastrophic insurance). Perhaps you’ve never even heard of it. But in the event of a big health emergency, such as cancer, a heart attack, or a stroke, critical illness insurance could be the only thing standing between you and financial ruin. Many people assume they’re fully protected with a standard health insurance plan, but the exorbitant costs of treating life-threatening illnesses are usually more than any plan will cover. Read on to learn more about critical illness insurance and whether it’s something you and your family should consider.

Hospital/Surgical Supplemental Health Coverage

Hospital Indemnity Insurance helps provide additional financial support when you need it the most. After a hospitalization resulting from a covered injury or illness, you or someone you designate receives a fixed benefit amount. The Hospital Indemnity Insurance policy pays the specific fixed benefit dollar amount you selected when applying, regardless of the amount charged by providers. And, there are no restrictions on how you can spend the money.

Accident Coverage

Accident Insurance, also known as supplemental accident insurance or personal accident insurance, pays benefits for accidental injuries.

Consider the affect a common accident may have on your financial picture. Because you never know when you or someone in your family could get hurt In an accident, an accident insurance policy can be helpful when the unexpected happens.

Disability Insurance

A person’s paycheck is often their most valuable asset. Unfortunately, many people are forced out of the workforce early due to illness and injury. Disability insurance is an important protection against this risk. Also called Di, income protection and paycheck protection, this insurance product provides a payout to replace part of the insured’s income if they can’t earn an income because of a disabling condition.

Many people are unfamiliar with DI and don’t know where to start when exploring a policy that will fit their needs. Terms such as “benefit period” and “elimination period” can be intimidating at first, but answering these 3 questions can help make it easier to understand your DI options and will assist you and your agent to design the right DI plan for you:

How much do you need to cover your basic monthly expenses? This is your “benefit amount.”
How long might you need DI benefits to last? This is your “benefit period.”
How long could you go without a paycheck? This is your “elimination period.”