Supplemental Insurance
Supplemental or voluntary insurance helps cover expenses not typically included in standard health insurance plans. Policies can be purchased individually or through employers as voluntary benefits, allowing individuals to customize their coverage based on personal needs and budget. It’s essential to carefully review policy terms, coverage limits, exclusions, and premiums before selecting supplemental insurance coverage.
Critical Illness Insurance
Provides a lump-sum payment if the policyholder is diagnosed with a covered critical illness, such as cancer, heart attack, or stroke. This benefit helps cover medical expenses, lost income, and other financial obligations during treatment and recovery.
Disability Insurance
Replaces a portion of the policyholder’s income if they become unable to work due to a covered disability. Disability insurance provides ongoing financial support to help cover living expenses, mortgage or rent payments, and other necessities during periods of disability.
Long-Term Care Insurance
Covers the cost of long-term care services, such as nursing home care, assisted living facilities, and in-home care, for individuals who need assistance with activities of daily living (ADLs) due to aging, illness, or injury. Long-term care insurance helps protect assets and preserve financial independence in retirement.
Accident Insurance
Offers financial protection in accidental injuries, such as fractures, burns, or dislocations. Accident insurance provides a lump-sum payment or reimbursement for medical expenses, including hospital stays, surgeries, and physical therapy.
Dental Insurance
Covers dental care services, including preventive care, routine check-ups, cleanings, fillings, and major procedures like root canals and crowns. Dental insurance may have different coverage levels for basic, primary, and orthodontic services, with annual benefit maximums and waiting periods for specific treatments.
Cancer Insurance
Cancer insurance provides financial assistance for cancer-related expenses not covered by standard health insurance, such as experimental treatments, travel for specialized care, and daily living expenses during treatment. It may offer lump-sum payments or reimbursement for specific cancer diagnosis and treatment costs.
Hospital Indemnity Insurance
Pays a fixed benefit amount for each day the policyholder is hospitalized due to illness or injury. Hospital indemnity insurance helps offset out-of-pocket costs associated with hospitalization, such as deductibles, co-pays, and non-covered expenses.
Vision Insurance
Helps offset the cost of vision care services, such as eye exams, prescription eyewear (glasses and contact lenses), and vision correction procedures (LASIK). Vision insurance may also cover discounts on frames, lenses, and accessories at participating providers.
