Indemnity insurance plans were one of the first health plans to ever
be sold in this country. A very simple concept, if you have an illness or
accident and accrue medical bills we, the insurer, will pay you a set dollar,
indemnity, amount based upon the policy provisions for coverage.
Many policies in the health insurance field today are so complicated
in their benefit structure that even I, with 30+ years’ experience, have a have
a hard time understanding what is covered and how much am I going to get paid.
The Hospital Indemnity Policies being offered today are a classic example of
knowing what you’re buying and understanding the benefits. These policies
provide cash to the policyholder that can be used for any number of items after
they have been confined to a hospital:
- Paying health
insurance deductibles, whether underage, Medicare Advantage or Medicare
Supplement.
- Paying for
charges not covered by other insurance.
- Paying for
relative travel and lodging to help out.
- Paying for
relative travel and lodging to help out.
- Paying bills at
home.
- Paying
for housekeeping while you recover.
- Etc...
Many of these policies also offer riders to pay for doctors,
surgery, cancer and prescription drugs. In
most cases the cash indemnity is paid to the policyholder direct and they can
then use the money as they see fit. The underwriting is minimal and premiums
are affordable, starting at just a few dollars a month. Even those on a fixed
budget may able to afford this coverage.
The largest medical bills that a person receives are when they end
up hospitalized for illness or accident. So, why not insure that risk and make
sure you have the money when you need it the most, after being confined to a
hospital for illness or accident. After all, CASH IS KING!!!
(This article was written by Philip Warren of Senior Marketing Specialists.)
