Supplemental is insurance coverage that pays claims to YOU the insured, in most cases, instead of the hospital and doctor. If you are involved in an accident and have to go to a hospital to be treated, you MAY GET PAID. I write that in capital letters, because there are many different types of “Accident” coverage, some may require a stay in the hospital for 3 or more days before they pay. Ask me about the different types of accident coverage so you may make an educated decision for you are your family.
Another Supplemental type of insurance is critical illness and cancer coverage. This type of coverage will pay YOU if you become critically ill or are diagnosed with cancer. Again, there are many different types of coverage, some that pay YOU a lump sum, and others that pay you for types of treatment and expenses. I never have been told thank you for health insurance, but when a client call because they have just been told they have cancer and I can pay them $60,000 to help with other cost that insurance may not pay for, i.e., mortgage, food, utilities paying for your insurance to see the doctor.
Dental and Vision
This type of insurance is pretty simple, but understand, that most dental coverage may have a waiting period because of high cost of doing the work, or may require that you have at least a year contact. Most the time the dental coverage will come to 2-3 levels of coverage ranging low, medium, and high monthly premiums. Of course the higher premiums cover more work and may have more choices of dentists.
Life Insurance and Retirement Plans
I know many people think why do I need death insurance? I'm sure I'm going to die! To that I say “Yes” we are going to die, even though we do NOT want to think about it. Obviously we know life insurance will pay our family if we die, that is a no-brainer. But did you know that some Life insurance will help us even when we are alive. In the case of terminal illness or needing in-home care because of a critical illness. Maybe you had a stroke and you need help at home, you can use up to 90% of your life plan to pay for those expenses.
You can also use life insurance as a retirement plan to receive a tax free retirement! Your 401K and your regular IRA cannot offer that, plus you can never lose money even when the market goes down. Your investment levels off at zero growth, but that is MUCH better than a 10% -50% loss of your money.
Legal Insurance for Personal and Business
Legal Insurance you can take with you to any state in the United States. You can use it even if you're in a different state than where you live. Unlimited phone calls to an attorney for unlimited different matters without a charge. Letters written on your behalf for almost any matter. Traffic tickets, wills, living wills, power of attorney, Medical directive. If you have been ripped off, if someone decides they want to sue you. Your attorney is on retainer with your monthly premium.
You can also real about the different types of primary health insurance.