Accident Insurance Coverage
You may not be able to prevent an accident from happening, but you can be prepared for when it does. Accidents happen. Don't be caught unprepared. Even if you have medical insurance, you still have deductibles and copayments. Don't stress over how you're going to pay for these bills when you need to be focusing on your recovery!
Accident plans work very well in conjunction with your regular health plan. They are very inexpensive to add and with the right amount of coverage, most of the time they will cover all of your out of pocket expenses associated with your accident. For example: If you have a $5,000 deductible on your health plan, then your health insurance won't pay anything until after this threshold has been reached. This means that you are financially responsible for the first $5,000 of your accident. If you have an accident plan with $5,000 in coverage, the accident plan will pay your deductible for you and then all you will be responsible for is the co-insurance percentage!
Critical Illness Protection
Costly illnesses trigger about half of all personal bankruptcies, and most of those who go bankrupt because of medical problems have health insurance, according to a Harvard University study. Even if you have great insurance, you will have to pay insurance deductibles and co-pays. You'll pay for care, medications and alternative treatments that are not covered. Your paycheck will stop or be reduced. You'll still need to pay the rent, the mortgage and everyday expenses. If you are self-employed or own a business, the financial toll can be devastating to everything you worked to create.