Supplemental Health Insurance: One of the best kept insurance secrets around

Supplemental Health InsuranceCritical illness insurance isn’t one of the more widely known forms of coverage, but it is a form of supplemental health insurance policy that is inexpensive and that can make a significant financial difference to an individual who has received a diagnosis of heart attack, stroke, or cancer.

The reason that few have heard of critical illness insurance until now is that it is a relatively new form of coverage in the United States. The first policy of this form was issued in 1996. According to data from the American Association for Critical Illness Insurance (AACII), until now, only 600,000 people have taken out this form of coverage in the U.S.

Another reason that many people haven’t yet heard of this product is that it is only sold through brokers and agents, and they typically place their primary efforts on selling life insurance as it brings in greater profits.

This coverage is generally most beneficial to people who are in their 30s through 50s, which is a group of people that isn’t typically at the time in their lives when they are most interested in purchasing insurance.

According the AACII’s executive director, Jesse Slome, this kind of coverage is comparable to long-term care insurance in that “The No. 1 problem is nobody has ever heard of this protection.”

That said, it has been created in order to assist in paying for healthcare expenses that are not already covered by medical insurance. This can include copayments, deductable fees, alternative or experimental treatments, prescription drugs that aren’t covered by the primary policy, and care out of town. It can also help with expenses that aren’t directly related to the illness, such as car insurance and car payments, rent, mortgage payments, premiums for medical insurance, and lost income.

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