Category Archives: Types of Coverage

What is Supplemental Insurance?

A “supplement” insurance policy is one designed to help pay for the out-of-pocket costs associated with treatment for a health issue.  Examples are Cancer insurance, Heart and Stroke insurance, Accident insurance, etc.  Generally, the benefits of the policy are payable directly to you, the insured, instead of to the health care provider.  You can then determine how to use the money — pay your medical bills, your light bill, your grocery bill — or whatever you choose.

Supplements cost much less than regular health insurance, but are typically purchased in addition to it.  Although they can often be used as stand-alone products, the best benefit to the insured is when they are used in conjunction with your health insurance.  In these days of “mandated” health insurance, a supplement enables you to purchase less expensive, higher deductible coverage, knowing that you have a cost-effective supplement to help if you need it.

Cancer Insurance – Who needs it?

Almost everyone knows someone who has had cancer.  The current statistics are that 1 in every 3 women, and 1 in every 2 men will develop cancer in their lifetime — regardless of family history.  Although there have been advances in the treatment of cancer, it’s still a word that strike fear in the hearts of those who hear it applied to themselves or a loved one.

Research has shown that one of the most important aspects of surviving cancer is the mental and emotional state of the person.  Worry, fear and stress all apparently work to suppress the immune system and depression can inhibit the will to fight.

People often think they are covered financially if they have good health insurance — failing to consider the hidden costs of cancer treatment like deductibles, co-insurance, co-payments, etc. There is also the possibility of lost income due to treatments and time off from work.

Cancer insurance obviously cannot treat cancer.  But it CAN greatly reduce or eliminate your out-of-pocket costs and lost income, enabling you to focus on getting well instead of worrying about how to pay the bills.

We offer one of the most comprehensive cancer plans available on the market, and we know what we’re talking about because it’s the one we have and used when we were each diagnosed!  Call us for more information at (903) 825-2069 or (800) 439-7073.

 

Paycheck Insurance a.k.a Disability Insurance

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Disability Insurance is one of the most important coverages you can have, yet many people say “I just can’t afford it.”  The truth is, most people can’t afford to be without it if something happened that prevented them from working for over a couple of weeks.  You may have sick days or vacation time that could ensure you receive income for that long, but if you had to be off work due to sickness or non-work related injury (such as an auto accident, or recovery from major surgery), how would you pay your bills?  Even seemingly minor ailments such as broken bones and nagging medical conditions can lead to temporary or permanent disability.  Any type of disability can have a disastrous effect on your earnings, savings and lifestyle.

Disability Insurance is really “Income or Paycheck insurance” — guaranteeing you continue to receive income during the time you can’t work.  The maximum amount you can purchase  is two-thirds of your annual income, but you may choose a lower amount than that.  You can also adjust your cost for this critical coverage by choosing different waiting periods — the amount of time you must wait before collecting benefits.  The longer the waiting period, the lower your monthly premium will be for the dollar amount you choose.

Who needs it?  Anyone who depends on their income to make ends meet.   Other than your medical insurance, Disability Insurance is the most important coverage you should have!