In my last few articles I’ve discussed how Supplemental Benefit Plans can be a critical tool for covering the gap between what is covered by a major medical plan and what has to be paid for out of pocket. The idea that cancer and other forms of critical illness can be a drain on a person’s finances is pretty well known; however there is a lack of awareness about the financial impact of some of life’s more common accidents.

Recognizing that the costs associated with an accident can quickly spiral to the point where they can threaten an individual’s financial security, our agency offers an accident insurance policy that covers many events related to sports, travel, school or vacations. Understanding that accidents can result in expensive hospital stays, medical treatments and surgeries, as well as extensive transportation costs if an ambulance is involved, it is easy to see why my clients have told me the accident insurance plan has helped them keep their stress levels at a minimum.

An example that has always impressed me concerns an individual named Charlie, who purchased accident coverage through an Allstate agent and was later injured in a car accident. Because of his injuries Charlie was airlifted to a hospital, where he stayed for two days and received surgery to repair his rotator cuff. After he was released, Charlie followed the doctor’s instructions and asked a family member to drive him to a physical therapy center 150 miles away for three treatments.

Of course situations can change and individual experiences can vary. In this example, however, Charlie received $3,240 in direct payments as a result of his injury. These payments were intended to cover the cost of air ambulance services, medical expenses, hospital confinement, rotator cuff surgery, physical therapy and non-local transportation costs, which in this case amounted to $900. All payments were applied in addition to Charlie’s major medical plan.

One of the best parts about the accident insurance policy is that it can be extended to include the entire family. This has made it especially popular with my clients who have children. Not only that, but the premiums are affordable and the coverage can be enhanced by the addition of a variety of rider benefits.
 
Supplemental Benefit Plans are a great product, since they also provide coverage for cancer and a host of other critical illnesses, but I feel they aren’t fully used because the amount of detail and the complexity of the subject can be confusing for some people. To provide clarification, our agency recently launched a new website, located here, which provides an extensive resource of information about everything from wellness benefits and cancer initial diagnosis benefits to critical illness, disability and life insurance products.

The idea behind the website is to give folks a chance to review information at their own pace; however if your preference is to speak with a person and ask questions, please contact me at the number below.

Will Brown is the owner of the Will Brown Insurance Agency LLC, and represents Allstate Insurance Company. Brown and his staff offer property, casualty, health and life insurance, as well as personal financial services and Allstate Benefits, one of the nation’s leading voluntary benefit plans. The Will Brown Insurance Agency has a comprehensive protection and investment product portfolio, with a strong commitment to serving families and small businesses in an advisory role. Will Brown may be reached at (910) 599-9071, or by email at [email protected]. To learn more about the Will Brown Insurance Agency, click here.