Different Types of Health Insurance Policies
As a personal insurance and risk management agency, we believe in total transparency. Here at Robertson, we can help you choose from the following health insurance plans:
- HMO plans. An HMO (Health Maintenance Organization) is a specific type of health care plan that sets out guidelines under which doctors can operate. On average, health care coverage through the use of an HMO costs less than comparable traditional health insurance.
- Major Medical: This type of plan provides benefits for most types of medical expenses that may be incurred. Offering more complete coverage with fewer gaps, major medical insurance covers a much broader range of medical expenses – including those incurred both in and out of the hospital – with generally higher individual benefits and policy maximum limits.
- Surgical Policies: Most health insurance plans sold today are major medical plans, but there are a few hospital and surgical health insurance plans on the market. Surgical health plans often aren’t as comprehensive as major medical plans, so they’re typically less expensive.
- Dread Disease Policies: Often called “cancer policies,” dread disease policies cover one or more dread diseases: cancer, heart disease, or other major maladies.
- Hospital indemnity: A hospital indemnity plan provides a daily benefit for each day you are hospitalized, and it’s paid without regard to the hospital expenses incurred. This daily amount is paid to you, and the benefit is triggered simply by confinement as an inpatient.
Is Life Insurance Right for Me?
Life insurance isn’t just something to think about as you grow older. Whether you’re a young family with small savings and big responsibilities or a family that wants to leave a legacy behind, life insurance is an investment for everyone.
The Lifeline of Life Insurance
Life insurance helps you provide for your family even when you can’t. In exchange for premium payments, an insurance company will pay a lump sum (sometimes referred to as a death benefit) to your beneficiaries after your death.
There are two primary types of life insurance: term and permanent. Term life insurance provides protection for a certain period, while permanent life insurance (like whole life or universal life insurance) can provide lifetime coverage.
Life insurance helps protect your family from getting weighed down by the following financial burdens:
- Mortgage debt
- All other debt (vehicle, credit cards, etc.)
- Funeral expenses
- Future living expenses
- Future education expenses