Hospital Indemnity Insurance

The first thing to understand is that hospital indemnity insurance pays cash benefits directly to the policyholder.  This happens regardless of any other insurance they may have.  As the benefits are paid directly to you, you can use the funds to cover your immediate expenses.

In addition, many plans allow you to not only have the base coverage for each night that you spend in the hospital, but will also allow you to purchase riders to include such things as:

Ambulance coverage – many times an individual might incur an ambulance charge (especially if they have a Medicare Advantage plan).  Including this rider at a reasonable cost provides benefits for the service, even if no hospital stay occurs.

Skilled Nursing Facility coverage – while traditional Medicare covers the first 20 days of skilled nursing facility care (after an individual spends 3 prior nights in the hospital before entering the facility), sometimes folks do not end up meeting the 3 day prior night requirement.  Also, those folks covered by a Medicare Advantage plan may not have first day coverage and might have to cover a daily co-payment in the skilled nursing facility during the first 20 days.  This rider puts the money directly in your pocket to use as needed.

Lump Sum Cancer Rider – with cancer affecting so many folks above the age of 65, this rider is a very important one.  If you received a cancer diagnosis, where would you prefer to receive treatment?  Would you want to go to the best cancer specialist or facility for the type of cancer you have?  Of course you would!  This rider puts thousands of dollars in your hands upon diagnosis of a life threatening cancer.  Now you can get the treatment you deserve!