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Posted 04/29/2023 in Category 1 by Gilbert Williams

Importance of a Hospital Indemnity Plan

Importance of a Hospital Indemnity Plan

What is Critical Illness Insurance? Why is it important to have with a Medicare plan.

Deductibles and Copays can add up even after you have Medicare and a Medicare Plan. That is why it is important to consider a Hospital Indemnity Plan. A Hospital Indemnity plan pays a daily dollar amount when you enter the hospital plus a lump sum. You can add on other features such as ambulance and Skilled Nursing Home care. 

Another plan is Critical illness insurance or critical illness coverage is an insurance product, where the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the critical illnesses listed in the insurance policy. The policy may also be structured to pay out regular income and the payout may also be on the policyholder undergoing a surgical procedure, for example, having a heart bypass operation.

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