With steadily and rapidly increasing health insurance premiums today’s consumers and employers have adapted as best they can. The usual result is more out of pocket expenses for individuals in the form of higher deductibles and co-pays. This has become a necessity to keep premiums as affordable as possible.
It’s not unusual today to see health insurance deductibles of $5000, $7500, or even $10,000.
The government attempt to soften the blow for tax payers has been the advent of HSA (Health Spending Accounts) plans
These are a combination of a High Deductible Health Plan (HDHP) and a separate custodial savings account for future medical expenses.
With or without an HSA plan, a serious medical issue could result in a crippling out of pocket expense costing thousands of dollars. This would financially decimate many people.
One of our strategic carriers has a very affordable solution to this very serious problem and risk in the form of our critical illness rider
This benefit will pay up to $50,000 in the event of certain medical conditions, and one need not satisfy the elimination period to qualify. It can be issued on express issue basis on our short term DI products, and is available on our Long Term DI plans too.
The value is high and the premiums are low. People recognize their exposure and will be glad you offered them a solution!
Please contact your Disability Income Department for more details and a case design, custom to your client’s needs.