The gap these products address
Even with medical insurance, deductibles, coinsurance and nonmedical expenses can strain a budget. Supplemental products may provide defined benefits when specified events occur.
What to compare
- The benefit schedule and what triggers payment.
- Whether payment goes to you or a provider.
- Exclusions, waiting periods, caps and pre-existing-condition rules.
- How the benefit lines up with your existing deductible and risk.
Common categories
Depending on availability, categories may include hospital indemnity, fixed-indemnity, accident, critical illness and other limited-benefit products.
Designed to supplement: these products are not comprehensive major medical insurance. A fixed benefit may be less than the actual medical bill.
Identify the financial gap before filling it.
Shane can compare your current deductible and risk with the benefits offered.