Friday, August 23, 2019

Why Do You Need Supplemental Insurance?

When you are young unless you have some kind of chronic illness or need specialized medical treatment or expensive medication on a regular basis, a basic medical cover would suffice. But as you grow older, it is important that you take a long, hard look at your health insurance and see what you are covered for.

Healthcare is very expensive. If you fall ill, you need money for consultation fees, specialist fees, medications, tests, hospitalization fees, ambulance fees and so on. Indeed, the list is endless. Finding out that your medical insurance isn’t enough for your treatment can be traumatic. This is where supplemental insurance can help.

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What Is Supplemental Insurance?

It is additional insurance that you can take, over and above your medical cover. It can help take care of a lot of things that your regular medical cover may not. Supplemental insurance can take care of deductibles (amount of money that you would pay at the hospital before the coverage kicks in) and copayments (amount which is in addition to the sum that your health insurance has given you assured coverage for) when you fall sick.

Common Types of Supplemental Insurance

Critical illness insurance is usually specific to a disease. Some illnesses that are chronic or long-lasting may need long term care. Your medical insurance may run out long before you get better. Supplemental insurance can ease the financial burden of a serious illness.

Accidental death policies include Accidental Death and Dismemberment Insurance (AD&D) and accident health insurance. They are usually combined and sold together. It will not only include medical insurance in case of accidents but can also include other related problems that may arise through accidents like wage loss, expenses that arise due to loss of mobility, etc. In case of accidental death, the benefit of the accidental death insurance will go to your loved ones and can be substantial.

Supplemental insurance also includes dental insurance for adults as well as vision insurance plans. Regular health policies may not cover these two expensive health issues and it would be a wise idea to get these policies.

Long term care insurance is supplemental insurance that covers hospitalization and home care or assisted living care for people who have been diagnosed with long term illnesses. There are also supplemental insurance plans that offer cashback benefit if unclaimed. It will be given to you over a period of time or as a whole sum.

There are many kinds of supplemental insurances available. Medigap is common supplemental insurance. This is taken by people who are enrolled in Original Medicare. It covers many things that your original medicare won't.

Visit to take a look at our supplemental insurance policies or call 650-328-1000 to talk to one of our insurance agents and they will work out the best one for you.

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