The goal of insurance is to provide peace of mind in the event of something going wrong. You can never predict when bad things will happen, which is why insurance plans aim to get you prepared for anything that life may throw at you. With hospital indemnity insurance, the goal remains the same. If you have been admitted into a hospital and weren’t ready to shell out the large amounts of money required to pay for it, hospital indemnity is just what you need. Hospital indemnity plans serve you by providing a cash payout in the event of being admitted into a hospital. This lump sum payout can be put towards lost income during your stay, bills you incurred while being out of work, or hospital and treatment costs.
Studies have found that the majority of Americans do not have enough saved up for an unplanned hospital visit. A hospital indemnity plan can be your safety net to save you from a financial hardship. There’s flexibility with what plan you choose. You can elect to get intensive and critical care covered. For a higher monthly premium, you can also get coverage on outpatient surgery, emergency room visits and ambulance services. An advantage to hospital indemnity is that most plans won’t limit you to provider networks, which helps open up your options when choosing a plan.
A lot of questions remain about hospital indemnity insurance plans. Such as how long of a hospital stay could I get coverage for? How will I receive my cash payouts? And how many family members can I fit on a single plan? At Morgan & Allen, we’re here to clear up any questions you may have about hospital indemnity insurance. Our team of dedicated agents are always available to you and are more than happy to help you find a plan. Give us a call today!