Advertisements for various types of insurance are everywhere. and they can be confusing. So what exactly do you need to learn about supplemental insurance and what can it do for you? As its name implies, supplemental insurance provides you with another layer of protection, on top of existing policies you probably already have, such as health and life insurance. It can help you pay for the things existing policies may not cover.
Supplemental insurance is similar to other lines of insurance - such as life or health insurance - but it is not meant to be your only means of protection. While major medical or life insurance policies can provide the bulk of benefits to your family after an illness or loss, supplemental insurance benefits can be used to pay for unexpected out-of-pocket expenses or help with things like utility bills, rent, and the like. Because the benefits are paid directly to you, you decide how they're spent.
With major medical insurance, specifically, your insurance company pays the medical provider
directly for services provided to you. With supplemental insurance, the benefits go directly to you, to use at your discretion.
Combined Insurance specifically offers a number of insurance products designed to help meet your needs, including supplemental disability insurance, supplemental accident insurance, supplemental health insurance and supplemental life insurance. Each is clearly written and easy to understand so you can make the right decisions about your coverage.
Sounds great, right? But is it affordable? Supplemental insurance - especially considering the benefits are paid to you - is generally very affordable. In fact, some policies can be secured for under $10 a month, depending on the amount of coverage you choose. Consider the high cost of healthcare these days. Consider, too, lost wages if you're sick or have an accident and can't work. Supplemental insurance can help you with those costs, and more, making a difficult situation a little easier to bear. Now that you know more about supplemental insurance, the real question is - can you afford not to have it?