Major illnesses and medical conditions such as cancer, heart attack, and stroke can leave you not only concerned about your health, but also your finances. When dealing with a serious illness, the last thing you want to be worried about is how your bills are going to get paid — medical and otherwise. You should, instead, be spending this time focusing on your health and healing — and with the help of an indemnity policy, you can.
Cancer, heart attack, and stroke insurance policies are often called indemnity policies. They are specifically designed to provide you with financial protection if you experience one of these health conditions or illnesses. Some policies are designed to cover all three conditions, while others may provide coverage for just one or two. The policy that you choose will likely be based on your specific needs.
A cancer, heart attack, and stroke indemnity policy would help to cover the costs that your health insurance does not. However, with an indemnity policy, you don’t necessarily have to spend the money on medical expenses. You will be paid a lump sum that you can use on any expenses necessary.
Indemnity policies are different from your health insurance. They are designed to help pay your expenses if you fall ill with cancer or have a heart attack or stroke. And, as three of the leading causes of death in the United States, the possibility of suffering from cancer, a heart attack, or a stroke are very real for many of us and become increasingly more likely as we age.
An indemnity policy helps to provide you with peace of mind. If, for instance, heart problems run in your family, you may be concerned about how you will pay your medical bills, mortgage, automobile loan, and other living expenses in the case that you suffer a heart attack. With a cancer, heart attack, and stroke indemnity policy, you’ll have an additional source of income in the form of a cash, lump sum paid out by the insurance company to help you handle these expenses, and it’s TAX FREE.
Another benefit of an indemnity plan is that the payment you receive can be used for both medical and non-medical expenses. Your medical insurance will likely not pay for all your medical expenses associated with any of these illnesses or diseases, so it’s important to have another way to pay. Additionally, while you are sick, you may no longer be able to work full-time, or at all, leaving you with non-medical, everyday living expenses to cover. You can use the payment from these indemnity plans to cover your housing, energy bills, or even your groceries.
With an indemnity plan, you won’t be required to submit receipts of every expense. Instead, the insurance company whom you hold the plan through will pay you a cash, lump sum. This also means that you’ll never be required to pay for the expenses yourself and then wait for reimbursement.
The price of indemnity plans, as with most health insurance policies, will vary from person to person. The price and coverage will be determined by your age, medical history, and other factors. However, for many individuals, indemnity policies are very affordable. For the small expense that they incur, it can be well worth the peace of mind and possible payout that the policies provide in the event that you do fall ill to any of these diseases or conditions.
Are you interested in learning more about cancer, heart attack, and stroke policies? The independent agents that work with Medi-Solutions Insurance Agency, LLC can help. Each agent is extremely knowledgeable, experienced, and dedicated to ensuring that you have a thorough understanding of the options available to you so that you can make an informed decision.
Information is for educational purposes only and should not be construed as an offer of insurance, advice, or recommendation. The information provided is not intended as tax, financial, investment or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation.
Not connected or endorsed by the US Govt or the Federal Medicare Program. Medi-Solutions Insurance Agency, LLC is an independent Life, Accident and Health Insurance Agency, NJ Ref#1642311. Some plans and features may not be available in all states.