Hospital and critical illness indemnity plans are a form of supplemental health insurance that provide additional peace of mind. These plans pay out a set amount when diagnosed with a critical illness such as a heart attack, stroke or cancer. They help to fill in the gaps of high deductible health insurance plans. The money received can help cover deductibles, copays and coinsurance. Some plans pay the providers directly, while others allow beneficiaries to receive the cash benefit so they can choose how best to use the money they receive. In this case, a cash benefit can help with living expenses or whatever is needed.
Supplemental health insurance can be very important, especially as we age. Over 5% of Americans 65 and over require assisted living or nursing home care. While Medicare plans help pay for immediate medical expenses, such as doctor visits, surgery, hospitalization and rehab, Medicare does not cover ongoing long term care. Long Term Care plans help people cope with the cost of chronic illnesses, such as Alzheimer's disease or various disabilities. These plans help mitigate the cost of nursing care in a facility or at home. There are several types of Long Term Care plans. We can present you with the various choices available. Although we will help anyone in the State of Georgia, we especially serve our local community in the Buford, Suwannee, Duluth and Lawrenceville areas as well as the Greater Atlanta area.
Life insurance has evolved over the last several years to include added benefits such as Critical Illness riders, and Long Term Care. Term policies with living benefits and Indexed Universal Life policies with riders offer life insurance with added benefits that offer peace of mind and protect family assets in the event of catastrophic illness.
These supplemental health insurance plans offer added financial protection for loved ones should the bread winner of the family pass away. We are partial to the Term Life Plans with Living Benefits because they offer greater benefits at lower costs than traditional life insurance.