Hospital Indemnity
What Is Hospital Indemnity Insurance?
Hospital Indemnity insurance helps keep your finances on track when you’re in the hospital. Planned or unplanned, a trip to the hospital can be scary. It can be even more frightening to know that your medical insurance probably won’t cover all your costs. Hospital Indemnity insurance can help cover unexpected out-of-pocket expenses such as copays, deductibles and out-of-network charges, as well as everyday living expenses. It pays a benefit directly to you for hospital-related events, regardless of your treatment costs or other insurance coverage you might have.
How Does Hospital Indemnity Insurance Work?
Hospital Indemnity insurance provides a cash benefit when you need it. Even the best budgeters can forget to set aside money for medical expenses. Hospital Indemnity insurance can help cover unexpected out-of-pocket expenses when you end up in the hospital. It also allows you to:
Choose how to spend your benefit. It’s your money — spend it however you want, whether it’s to pay for your groceries, rent, or medical bills.
Accident Insurance
When life takes an unexpected turn, Accident Insurance can help you pay for the expenses your medical insurance doesn’t cover.
You can’t always avoid accidents — but you can be prepared
Even with good insurance, injuries can set your finances back in a big way. And when you’re hurt, the last thing you want to worry about is out-of-pocket expenses you’re not prepared to pay.
Accident Insurance can help, by paying benefits directly to you if you get treatment for a covered accident. That way, your injury doesn’t have to derail your financial security.
How it works
If you or your covered family members are injured in a covered accident, Accident Insurance pays you a lump-sum amount to help take care of unexpected costs and protect your finances. Here’s how it works:
- A set amount is paid directly to you, based on the type of injury you have, the treatment you need, and the coverage you elected.
- You can use the payment as you see fit — to help pay for doctor visits, ambulance fees, hospital bills and other out-of-pocket expenses your health insurance doesn’t cover.
- Coverage may be available for your spouse and children.
- To help promote a healthy lifestyle, plans can also pay a benefit when you get a covered health screening test.
Critical Illness Insurance:
- Critical illness insurance provides additional coverage for medical emergencies like heart attack, stroke, or cancer.
- Because these emergencies or illnesses often incur greater than average medical costs, these policies pay out cash to help cover those overruns where traditional health insurance may fall short.
- These policies come at a relatively low cost. However, the instances that they will cover are generally limited to a few illnesses or emergencies.