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Supplemental
Protecting Your Health and Financial Future
While primary health insurance covers many of your medical needs, it doesn’t always protect you from every financial challenge that could arise due to unexpected health issues. That's where supplemental insurance comes in. Supplemental insurance products, like Hospital Indemnity, Cancer Insurance, Long-Term Care, and Disability Insurance, are designed to help fill the gaps left by your primary health insurance, providing additional coverage and financial support when you need it most.
At Live Well Benefit Advisors, we specialize in helping individuals and families choose the right supplemental insurance options to protect their health and ensure they are financially prepared for the unexpected.
What is Supplemental Insurance?
Supplemental insurance is additional coverage that goes beyond your standard health insurance. These plans are designed to cover specific healthcare expenses that primary health insurance may not fully address, such as hospital stays, cancer treatments, or long-term care needs. Supplemental insurance provides extra financial protection, helping you manage the costs associated with unexpected health events.
Types of Supplemental Insurance
Choosing the right Medicare plan depends on various factors, including your healthcare needs, budget, and personal preferences. Here are some tips to help guide your decision:
1
Hospital Indemnity Insurance
Hospital Indemnity Insurance provides a fixed daily, weekly, or monthly benefit when you're hospitalized, helping cover the costs of your hospital stay and other related expenses.
Why Choose Hospital Indemnity Insurance?
Covers Hospital Costs: Helps pay for the cost of your hospital stay, including room and board, surgery, and medical treatments.
No Restrictions on Use: You can use the benefit to cover any out-of-pocket expenses, including deductibles, co-pays, and transportation costs.
Peace of Mind: Provides additional financial support when you’re facing a hospital stay, so you can focus on recovery instead of worrying about bills.
2
Cancer Insurance
Cancer Insurance provides coverage specifically for cancer-related medical expenses, including diagnosis, treatment, and other costs related to cancer care.
Why Choose Cancer Insurance?
Comprehensive Coverage: Pays for hospital stays, treatments, chemotherapy, radiation, and even experimental therapies for cancer.
Out-of-Pocket Expense Relief: Helps with costs that your primary insurance might not cover, including travel expenses for treatment, prescription medications, and co-pays.
Early Detection & Prevention: Some plans offer wellness benefits that encourage cancer screenings and preventative care, potentially saving you money and improving health outcomes.
3
Long-Term Care Insurance
Long-Term Care Insurance is designed to cover the costs of care when you are unable to perform basic daily activities (such as bathing, dressing, or eating) due to chronic illness, disability, or aging. This coverage helps pay for nursing homes, assisted living facilities, or home healthcare services.
Why Choose Long-Term Care Insurance?
Helps with Growing Healthcare Costs: As you age, the cost of long-term care can be overwhelming. Long-term care insurance helps protect your savings and assets by covering these expenses.
Flexible Care Options: Choose how and where you receive care—whether at home, in an assisted living facility, or in a nursing home.
Peace of Mind for You and Your Family: Knowing that you have coverage for long-term care can ease the financial burden on your loved ones and ensure that you receive the care you deserve.
4
Disability Insurance
Disability Insurance provides income replacement if you are unable to work due to illness or injury. It ensures that you can continue to meet your financial obligations, even if you’re temporarily or permanently disabled.
Why Choose Disability Insurance?
Income Protection: If you’re unable to work due to an illness or injury, disability insurance replaces a portion of your lost income, allowing you to maintain your standard of living.
Long-Term Financial Security: Disability insurance can provide long-term coverage, so you don't have to rely solely on savings or government assistance if you’re disabled.
Comprehensive Coverage: Disability insurance can cover both short-term and long-term disabilities, giving you peace of mind regardless of how long you’re unable to work.
How Supplemental Insurance Works
Supplemental insurance works alongside your primary health insurance plan. While your primary health insurance pays for a large portion of your medical bills, supplemental insurance covers the remaining out-of-pocket costs that could be financially burdensome. This could include co-pays, deductibles, or medical expenses not covered by your health insurance, such as non-hospital treatments or specialized care.
Why You Need Supplemental Insurance
Healthcare costs are rising, and the unexpected can happen at any time. Even with the best primary health insurance coverage, there may still be gaps in your protection. Supplemental insurance products help fill those gaps, ensuring that you have the financial resources needed to manage unexpected medical expenses without depleting your savings.
Why Choose Us?
Enhanced Financial Protection
Helps reduce out-of-pocket expenses associated with medical treatments and hospital stays.
Customizable Coverage
Choose the supplemental insurance plans that best meet your specific needs.
Peace of Mind
Know that you have extra coverage in place to protect your health and financial future.
Helps with Rising Healthcare Costs
As healthcare costs continue to climb, supplemental insurance offers a solution to offset the financial burden.
How to Choose the Right Supplemental Insurance
Choosing the right supplemental insurance product depends on your individual health needs, family situation, and financial goals. At Live Well, we can help you assess your needs and recommend the best plans for your situation. Our team of experts will guide you through the process of selecting and customizing your coverage to ensure that you have the protection you need.
Get Started Today
Ready to protect your health and finances with supplemental insurance? Contact Live Well today to learn more about hospital indemnity insurance, cancer insurance, long-term care insurance, and disability insurance. Our team is here to help you choose the right coverage and secure a healthier, more financially stable future.
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Have questions, or ready to discuss how we can help plan for your future?
Schedule an appointment today!
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Have questions, or ready to discuss how we can help plan for your future? Schedule an appointment today!
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Disclaimer:
We do not offer every plan available in your area. Currently, we represent 0-10 organizations which offer 0-272 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Assistance Program (SHIP) to get information on all of your options.
Interest and other guarantees in an annuity are subject to the claims-paying ability and financial strength of the insurance carrier that issues the product. Annuities are long-term vehicles. Many have surrender charges over many years, and withdrawals from an annuity prior to age 59 ½ may be subject to a 10% tax penalty.