Accident Insurance

It’s difficult to plan for an unexpected injury, but accident insurance helps people pay medical and out-of-pocket expenses. Policies cover major medical expenses such as hospital stays and ambulance bills. Accident insurance will also pay for emergency treatment and medical exams. People can also rely on accident insurance when they need lodging or transportation.

Critical Illness/Cancer Insurance

Critical illness insurance provides coverage for serious medical conditions that usually require expensive treatment. Common critical illnesses covered under this plan include cancer, heart attack, and stroke. Cancer insurance covers additional expenses such as doctor bill and hospital stays. Critical illness and cancer insurance pays people one lump sum that can be used for medical expenses, bills, childcare, and transportation. Individual plans reimburse members up to $50,000. Fully underwritten plans reimburse people up to $500,000.

Universal Life Insurance

Universal life insurance is a combination of term life insurance and a savings plan. The cost of insurance must be paid to keep coverage, but the premium can be adjusted to accommodate individual needs. Premiums paid over the minimum cost will be transferred into cash value. People can also use cash value funds to pay for premiums.

Work benefits often include supplemental insurance plans to cover medical and personal expenses when someone becomes injured, disabled, or physically ill. Supplemental insurance plans pay for expenses that are usually not covered by a medial heath plan. Common types of supplemental plans include long-term care, disability, accident, critical illness, and universal insurance.