Cover More Of Your Medical Costs
Supplemental Insurance, also referred to as “income protection insurance” is an affordable way to protect your health and financial future by paying for certain healthcare costs and expenses that typical health insurance doesn’t cover. Premiums can be customized to your level of desired protection and budget needs, and many policies pay cash benefits directly to you. Our professional consultants offer FREE expert guidance to help you sort through your options to find the best coverage that fits your needs.
Our Supplemental Insurance Plans
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Individual Dental Plans
Individual dental plans are inexpensive and can contribute greatly in promoting overall good health. Studies have shown that regular dental exams can optimize oral health to prevent cavities and bad breath. In addition, they help to detect serious medical conditions such as heart disease and diabetes. Some studies have even shown that people who have dental insurance suffer less from depression.
Dental plans can range from a PPO or HMO to Pre-Paid, Fee-for-Service, and Discount on a variety of diagnostic and preventative care services including cleanings, exams, x-rays, fillings, orthodontia for children, and emergency care while traveling.
Individual Vision Plans
Take care of your eyes with an individual health insurance vision plan that can be purchased separately or combined with your major medical insurance. Individual vision plans are similar to individual dental policies, as they are inexpensive and save you money on routine exams, eyeglass frames and lenses, contacts, and even offer big discounts on procedures like LASIK. Additionally, monitoring your eye health with regular exams helps to prevent serious eye diseases like glaucoma and cataracts, and also helps to detect early stages of diabetes, high blood pressure, and high cholesterol.
Term Life Insurance
Even though Term Life does not build a cash value, it will help pay for your final expenses, your mortgage, your taxes, and the living expenses of your loved ones when they no longer have your income.
This type of coverage covers you for a set period of time provided you pay the monthly premium, or in some instances, a lump sum in advance. The policy will pay to the named beneficiary the face amount of the policy (set benefit and/or lump sum) upon death of the insured within the stated term. Depending on the policy, it may also make payments upon terminal or critical illness.
Permanent Life Insurance
This type of life insurance policy helps you save for the future by building a cash value that has many benefits to the insured, such as borrowing against the policy or building a tax deferred investment income, in addition to paying a death benefit. Whole life, variable life and universal life are all types of cash value life insurance. Cash value insurance is also known as permanent life insurance because it provides coverage for the policyholder’s entire life.
Final Expense Insurance
Final expense insurance is designed to help protect your loved ones from the financial burden of funeral costs related to your passing. Unlike life insurance, final expense policies have a much lower face value because they are intended to only cover costs related to a person’s final expenses. Therefore, these policies can often be purchased at low or reasonable premiums.
Features include:
Premiums do not increase, ever
As long as make you premium payment, policies will remain effective
Guaranteed death benefit
Disability Insurance
Disability Insurance protects your ability to earn a living during your working years. In other words, it protects one of your most valuable assets. And, this is pretty important considering that statistics show our chances are greater of becoming disabled than dying between the ages of 25 & 45. During the time you are unable to work due to a qualifying disability (illness or injury), the replacement of your regular income through a monthly benefit provided by disability insurance helps to maintain your pre-disability lifestyle.
Employers often provide standard short-term disability (STD) and long-term disability (LTD) insurance to meet federal guidelines. Individual disability income insurance can be customized to meet your needs and considers your occupation, age, income and other factors in determining your cost and monthly benefit payment amount.
Who needs coverage?
Individuals who do not have disability through their employer can purchase an individual disability policy. Additionally, self-employed individuals who desire disability coverage can also purchase an individual policy. Even those who already have disability insurance through their employer, may wish to consider a “wrap around” disability policy to supplement their employer provided coverage.
What type of coverage is available?
A standard Short Term Disability (STD) policy allows for income payments to begin after a two-week waiting period. Payments will continue to the insured until he/she recovers or maxes out the benefits. Thus, total benefits for a STD could last for anywhere from one month to two years, depending on the policy.
A Long Term Disability (LTD) policy allows for income payments to begin after a ninety-day waiting period, although it could be much longer depending on the policy. Once payments begin, they will continue far longer than STD. Thus, the total benefits for a LTD could last for a few years, up to age 65, or even for life.
LTC or Long Term Care Insurance
Recipients of LTC are not “sick” in the traditional sense. Instead, they unable to perform some of the activities of daily living such as dressing, bathing, eating, getting in/out of bed, toileting, walking or other basic activities. Overall, Long Term Care covers services that fall under two general categories which are skilled care and personal care.
- Skilled care is provided when recovering from an illness or an injury.
- Personal care helps maintain the daily activities and functions of life.
As stated, long-term care is usually not medical care and most often does not require a doctor or a nurse. In addition, the need for LTC is not always age related. In fact, statistics tell us that more than half of all individuals age 65 & over will need LTC at some point. Even so, it is important to note that roughly 40% of those receiving LTC today are between the ages of 18 and 64.
Why LTC Insurance?
Regular health insurance, Medicare or Medicaid typically will not pay for Long-Term Care services. The cost of LTC can quickly add up and burden those closest to you, both financially and emotionally. Purchasing a LTC plan can help you avoid those difficult situations, as well as give you the power you need to maintain control of your care, choosing the facilities that best suit your needs. Thus, instead of allowing welfare or the government to make your LTC decisions for you, you are in charge. Additionally, you should be aware that Disability Income Insurance is not designed to cover LTC expenses, but simply replaces part or all of your income during your working years should you become disabled. You need specific coverage to pay for long-term care needs.
Here are examples of what LTC policies may cover:
- Institutional Care: Nursing home, assisted living services, residential care facility, hospice care, adult foster home, respite care and more.
- Home Care: Home health care, adult day care, personal care, homemaker services, hospice care, respite care and more.
Critical Illness Insurance
Critical Illness insurance is considered a type of supplemental health insurance that provides benefits in addition to your regular health insurance and/or disability insurance.
Simply put, this special type of insurance coverage can help reduce the personal financial impact of the cost of fighting common types of critical illnesses, such as cancer, heart attack, stroke and more. With the advancements in modern medical technology, Critical Illness insurance is an increasing popular supplemental health insurance policy that allows you to focus more on recovery and less on the financial burden of a critical illness event or diagnosis.
Some key features:
-Lump-sum cash benefit paid directly to you.
-You decide how best to spend your payment.
-No network restrictions.
-Benefit level choices to fit your needs and budget.
Accident Insurance
Accidents can happen anytime. When they do, Accident Insurance provides benefits in addition to your regular health insurance and/or disability insurance. it is very affordable and can go a long way to protect you from financial hardship due to a great deal of medical, recovery and out-of-pocket expenses that follow accidental injuries.
In the event of a covered accident, Accidental Injury insurance pays benefits directly to you or anyone you assign. How you use the money is up to you. Cover deductibles and copays for primary care visits and physical therapy, emergency treatment, hospital stays, medical exams, transportation and lodging needs, along with other expenses that regular health insurance doesn’t cover when you have an accident. Some policies can even pay benefits in as little as one day, based on time of claim submission*
Advantages:
- Policies are guaranteed approval
- Lump-sum cash benefit paid directly to you.
- You decide how best to spend your payment.
- No network restrictions.
- Benefit level choices to fit your needs and budget.
We would love to meet with you to help you evaluate your financial and income protection needs.
Give us a call at (512) 329-0108 or contact us below. We can tailor coverage to fit any need.
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