Category Archives: Life Insurance

What is a Supplemental Critical Illness Policy?

Supplemental Critical Illness policy

Supplemental Critical Illness policy

Day-to-day life is complicated enough all on its own. So when you’re faced with the extra stress of a critical illness, the last thing you need to add on is financial worry.  Supplemental insurance helps protect you and … your family’s finances and future.

Critical Illness Insurance not only provides benefits to help with associated expenses, but it can also give you freedom to choose a better doctor, or get the best treatment available if your major medical plan doesn’t provide enough.  Do you …

KNOW THE RISKS

  • Men have nearly a 1-in-2 lifetime risk of developing cancer. 1
  • Women have a 1-in-3 lifetime risk.1
  • This year an estimated 770,000 Americans will have a new heart attack. 2
  • On average, every 40 seconds someone in the United States has a stroke. 3

KNOW THE COSTS

  • The total overall cost of cancer in 2007 was $219.2 billion. 4
  • The estimated direct and indirect 2008 cost of coronary heart disease is $156.4 billion. 5
  • The estimated direct and indirect cost of stroke for 2008 is $65.5 billion. 6

$219.2 BILLION

        40 %                                                                       60 %

      DIRECT                                                                 INDIRECT
MEDICAL                                                        OUT-OF-POCKET
COST                                                                       COST

    $89 Billion                                                                            $130.2 Billion

    DOCTOR &                                                             (HIS) LOSS OF INCOME
HOSPITAL BILLS                                                       (HER) LOSS OF INCOME
HOUSE PAYMENTS
CAR PAYMENTS
FOOD
GAS
ELECTRIC BILLS
TELEPHONE BILLS
OTHER LIVING EXPENSES
Not to mention …
TREATMENT COSTS
TRAVEL EXPENSES
MOTEL BILLS
COST OF EATING OUT

How would you pay for out-of-pocket expenses associated
with a critical illness?

If you are like many people, you have few options:

Spend your savings.
Sell your assets.
Buy supplemental insurance to protect your family, finances and future.


We believe you need more “CASH” for personal expenses 
rather than more INSURANCE for doctors and hospitals.

Your benefits are paid DIRECTLY to YOU ! ! !

Critical Illness Insurance includes these important assurances:

  • Your benefits are paid in addition to any other insurance you carry.
  • You cannot be singled out for a rate increase. Your rates can be increased only if they are increased for all plans of this kind in your state.
  • Your benefits are never reduced.
  • Your policy is guaranteed renewable for life as long as your premiums are paid when due – only you can cancel.

Click here for a quote on Critical Illness Protection 

 Frequently Asked Questions

Q: What is Supplemental Insurance?

A: Supplemental insurance is extra or additional insurance that helps you pay for out-of-pocket costs that your major medical insurance doesn’t cover. Things such as loss of income, co-pays and co-insurance, travel and lodging, etc. The benefits are paid in cash directly to you so you can use the money however you choose to pay for those unexpected expenses due to illness or injury.

Q: Do I really need supplemental insurance?

Unexpected accidents and illnesses happen. When they do, it can leave you and your family vulnerable to out-of-pocket expenses that major medical insurance does not cover. Supplemental insurance benefits give you piece of mind and reduce the worry about how you will pay for those unexpected expenses. With less worry, you can focus on getting well rather than how you will get the money to pay your light bill.

Q: What happens when I am diagnosed with a critical illness?

A: Filing a claim is easy. You will simply visit our web site to download your claim forms, or call us at 1-877-740-8683 to have them mailed to you.

Q: How can I get supplemental insurance?

A: We make it easy as 1-2-3. 1. Just call us toll-free at 1-877-740-8683. 2. We take the application over the phone in less than 10 minutes. 3. You get your policy in the mail in 1-2 weeks. It’s that easy! Our knowledgable representatives will work with you to identify your protection needs, so you have the coverage you need to help meet those needs.

Q: How do I qualify; do I have to complete a physical?

A: Most people do not have a problem qualifying for critical illness insurance, some cases you can even qualify if you cannot get major medical. There are a few health questions, and no physical is required. Generally, as long as you can answer “No” to the health questions, the coverage is issued and can become effective within 15 days from the date of the application.

Q: What services are covered?

A: Most plans pay cash for things such as:

Lump Sum benefits upon initial diagnosis.
Admission to a hospital
Family lodging for a member of the immediate family
Others

Q: What is generally not covered on a critical illness plan?

A: Most plans will not pay benefits for the following:

Loss diagnosed or caused by another disease or sickness withing the waiting period (waiting periods vary by state)
Loss due to participating in an illegal act or working at an illegal job
Loss due to being intoxicated or under the influence of any illegal drugs or narcotics, prescribed or not
Loss due to self-inflicted injury, or while attempting to commit suicide
Loss due to war, participation in sporting events.

Exclusions and limitations vary by policies by state, so always refer to your policy or outline for applicable exclusions and limitations.

View other supplemental coverages:

Accident
Heart Disease / Heart Attack / Stroke
Cancer
Hospital Indemnity

 

Facts provided by:
1 American Cancer Society, Cancer Facts & Figures 2008, 2008, p.1.
2 American Heart Association/American Stroke Association, Heart Disease and Stroke Statistics, 2008 Update (At-a-Glance Version), p.12.
3 Ibid, p.15.
4 American Cancer Society, Cancer Facts & Figures 2008, 2008, p.3.
5 American Heart Association/American Stroke Association, Heart Disease and Stroke Statistics, 2008 Update (At-a-Glance Version), p.14.
6 Ibid, p.17.

The above facts represent the U.S. population, are for information only and do not imply coverage under the policy or endorsement of the company or the policy by the people and organizations above.

Texas Long Term Care

Many people are unaware of the need for Long Term Care Insurance. Nearly 70% of people over age 65 will need some type of Long Term Care, and the cost of care can reach $70,000 per year. To watch a quick overview, click the Own Your Future Video. While the traditional image of Long Term Care is a Nursing Home, today more people are receiving Home Health Care or even residing in an Assisted Living Facility. If you think Long Term Care is covered by Medicare even with a Medigap plan, Disability, or Health Insurance, you need to take another look. While Medicaid does cover Long Term Care, you have to qualify. Long Term Care Insurance is the one type of coverage designed to pay for Long Term Care. One of the more recent changes in Long Term Care Insurance has been the addition of Texas Long Term Care Partnership-qualified plans. If you own a Partnership Qualified plan, you can have a dollar for dollar offset in asset protection. For example, if you receive $50,000 in benefits under a Partnership Quailifed plan, you could set aside $50,000 in protected resources if you did have to later receive benefits from Medicaid. While the subject of Long Term Care is not always easy, the time to purchase is while you are still young enough to qualify, and receive a reasonable rate. To find out more about Long Term Care Insurance, and Partnership qualified plans, call 877-740-8683, or visit www.freedomfreequote.com , to request a free Long Term Care Planning Kit.

June is National Safety Month…Are you protected?

June is National Safety Month. According to the National Safety Council, 1 in 8 Americans received medical attention for a non-fatal injury in 2010. About 67% of emergency room visits are the result of accidents, and the annual cost of injuries is more than $730 billion. This figure includes medical costs,lost wages, and damages. An interesting fact is that about 78% of accidents happen outside the workplace. The top 5 causes of accidental injuries are motor vehicle accidents, poisoning, falls, choking and drowning. While many accidents can be prevented, they can happen to anyone, at any time. Many of our customers choose to purchase an Accident Policy, to help protect against the sudden, unexpected expenses that can occur after an accident. For more information, call 877-740-8683, or visit www.freedomfreequote.com .

“Harvard Study” Drives Life Insurance Sales

I saw a headline like this the other day that caught my eye. When I took a closer look, the headline was tongue in cheek. The point was that it really shouldn’t take a “Harvard Study”, or any other scary facts, to motivate someone to purchase Life Insurance. Simply put, we are all going to die, and there is rarely enough money to replace the Lost Income, Medical Bills, or  Final Expenses that occur. If it has been a while since you have updated your Life Insurance, or have recently had a life changing event, it may be a good time for a Life Insurance Review. Just give us a call at 877-740-8683, or visit www.freedomfreequote.com , for a friendly, no obligation consultation.

Paying Insurance Premiums by Bank Draft

How we pay our Insurance premiums is something that most consumers rarely think about. If you have any kind of Individual Insurance, that is outside of an Employer Group, you have to select a payment mode. Some carriers will accept payments by mail, on a monthly, quarterly, or semi-annual basis. A lot of people will choose one of these options, when they are available, because they don’t like “bank drafts”. Unfortunately, while this sounds like a good idea, it may not always work out for you. When illness or injury occur, it is not always easy to stay on top of sending in a payment. When you miss a payment, depending on the type of Insurance, you may have a Grace Period, but if that runs out, you can lose your Insurance at the worst possible time. We just talked to one of our customers today that had this happen to them. They have been going through some health issues this year, and travelling and had missed the payment on their Medicare Prescription Drug Plan. This caused the plan to terminate due to non-payment. For this type of coverage, it will require an appeal to Medicare, due to medical hardship, to request re-instatement of the plan. Hopefully we caught this in time, and can help this member keep their coverage. If Medicare denies the appeal, the member will have to wait until next year, and will be assessed a penalty for the time they went without coverage. Do yourself a favor, and give bank draft a try. If you have questions  on any of your Individual Health, Life, or Disability Insurance, please give us a call at 877-740-8683, or visit us online at www.freedomfreequote.com .