Supplemental insurance can be a great tool for helping to bridge gaps in coverage or to simply have more coverage that targets specific problems and limits the need for out-of-pocket costs and subsequent debts. Supplemental insurance comes in many forms, so understanding the types is helpful in knowing when to think about purchasing a form of supplemental insurance.
Popular Forms of Supplemental Insurance
- Critical Illness Insurance: This type of supplemental insurance can be further broken down into specific illness plans. While general health insurance may help to cover a wide array of illnesses to a certain extent, preparing for specific, particularly costly and burdensome illnesses may help to eliminate the burden of high costs for treatment. These policies generally have low premium amounts month-to-month but can have big payoffs in the end, often in lump sums to help manage a critical illness
- Life Insurance: Life insurance policies are a great tool for bridging gaps in already established life insurance If current life insurance does not cover all of a person’s needs, a supplemental option will help to ensure there are enough funds to support beneficiaries in the event of your death. If there has been a major life change, such as a new job, dependents, spouse, or assets, it may be time to consider a supplemental insurance policy or, at the very least, revisit and adjust accordingly if your policy provider allows changes.
- Accident Insurance: Regardless of whether other policies such as general health insurance or even car insurance will help in the case of an accident, you may want to consider accident insurance too. This is because regular insurance policies may leave you hanging when it comes to paying for all needs after an This can help provide peace of mind when an unexpted injury occurs. While the specifics will depend on the plan supplier, accidents covered are fairly universal, from everyday accidents at home and sometimes even car accident injuries not covered by car insurance itself.
- Dental Insurance: Dental insurance is a necessary supplemental insurance plan to have in place to ensure that your teeth are being cared for as an integral part of your health. If an employer doesn’t provide subsidized dental insurance, then purchasing dental is often a good choice for your long-term health. Skipping dental insurance could mean potential major issues that would need to come out of
- Vision Insurance: You probably already know if you need vision insurance — most people who need glasses or contact lenses will benefit from it. Additionally, it may be good to have vision insurance coverage and routine eye exams for both growing children and seniors, as vision can change over time.
Deciding to apply for supplemental insurance of any type is a big decision to make. Be sure to verify details with any potential insurer, and opt for the policies and premiums that are most beneficial for your and your family’s life. Emergency plans in the case of major illnesses or accidents are a great tool to have to avoid the stress of debt, but it’s equally important to have access to necessary preventative care options as well, such as dental and eye care.
The content herein is provided for general informational purposes and is not provided as tax, legal, health or
financial advice for any person or for anyspecific situation. Employers, employees and other individuals should
contact their own advisers about their situations. For complete details, including availability andcosts of Aflac insurance, please contact your local Aflac agent.
Aflac insurance coverage is underwritten by Aflac. In New York, coverage underwritten by Aflac New York.
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