Additional Health and Accident Insurance – When Less is More!

What is Supplementary Health and Accident Insurance?

Supplementary insurance policies usually pay cash for certain events. For example, a cancer policy may provide money for certain cancer treatments, transportation, and even lump sums that a sick person must pay their bills when they become unemployed. Broader policies also exist that address a variety of critical illnesses. These are often called critical illness policies and may pay for certain illnesses, such as cancer and heart attacks. Another type of supplemental insurance is called a terminal illness policy and can pay the policyholder if he or she is diagnosed with a life-ending illness within a specified period of time, usually 12 months. A supplemental health policy can bridge gaps in regular health insurance or simply help with money to pay the bills.

Like supplemental health insurance, supplemental accident policies can work in a number of ways. Some pay a lump sum for different accidents. In other words, a composite fracture will entitle the insured to a larger sum than a minor burn. Other accident policies will charge a predetermined lump sum. Again, this money from the supplemental accident policy can pay for large health insurance deductions and insurance amounts or provide money to make up for lost income.

Why Should You Get a Supplemental Insurance Policy?

Of course, many consumers may already have major health insurance. These people feel that enough of their income goes to health insurance and no more is needed. However, an additional insurance policy can really help lower insurance premiums as it will compensate for higher deductions!

A typical 50-year-old can pay $350 per month for a PPO plan with a $1,000 deduction. However, the premium for a $5,000 PPO plan can only be $200 per month. A cheap accident and health supplement, which can often be bought for a few dollars a month, can protect so that the real exemption never comes out of the insured’s pocket, or at least very little of it!

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If you can spend an extra $50 a month on supplemental insurance, but deduct $150 from your large medical bill, then you’re ahead and you’re also reducing your risk of having large deductible bills if you have an accident or get sick. !

Find Supplementary Insurance and Health Insurance Working Together

If you want a quick way to lower your health insurance premiums and find the best supplements and health insurance plans that work together, I recommend using a large online quote system. You can fill in your information once and it usually only takes a few minutes. The online quote system will provide competitive policies as well as contact details of qualified local health insurance agents in your area. If you contact a health insurance agent, tell them what you are looking for and they will definitely be able to help you.

To find a good online quote system, look for a secure server and a stated privacy policy so your information will be safe. Also, I see many of the big, trusted services join the Better Business Bureau Online program.

About Lily Hammond

I have been working as an insurance consultant in my own insurance agency since 1998. Because I've been doing this for so long, I know every detail and I'm here to help you. You can find my e-mail address and work phone on the contact page.

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