There are 2 types of supplemental policies you should be aware of. The first is part of a strategy to take advantage of the price disparities of higher deductible plan designs. These typically have lump sum pay outs and can significantly decrease your overall premium but actually reduce your out of pocket exposure. The second type of supplemental insurance you should evaluate is designed to pay you cash to help with out of pocket expenses but especially non-medical expenses if you become injured or ill. Having that cash especially if your income is affected by the injury or illness can be important to cover rent, mortgage, car payments, and groceries. These types of plans typically pay out on a schedule and are not tied to actual medical bills.
Our experts can make sure your insurance planning looks at all of the options that are important to protecting your family.