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Filling in the Gaps

What is an ancillary product? Ancillaries are known to “fill in the gaps” that health insurance leaves. With major medical insurance, you are subject to out-of-pocket costs from your co-pays, deductibles and/or co-insurance. It can get costly. Most Americans don’t have that extra funding laying around waiting for medical expenses to arise. What would you know if you unexpectedly got sick or hurt?


That’s where ancillary or supplemental benefits come in. There are a variety of options that you can stack to use. The great part is that it pays you as the policyholder. Then you control where the money goes.


There are accident policies, which are self-explanatory. If you have an accident, the policy pays you when you get treatment. There are cancer policies that pay you in the event you are diagnosed with cancer. Critical Illness pays for major events like heart attack and stroke. Sometimes, policies combine the cancer and critical illness benefits, instead of having to get separate policies. Hospital confinement pays you if you are admitted to the hospital, usually for more than 18 hours. Short term disability is a partial income replacement in the event that you cannot work.


They all have their own importance. Everyone has a different life situation, so one might find something more important than someone else would. They are also relatively inexpensive. You could get a combination plan for about $40-50 per month. You could get a hospital confinement benefit for about $20 per month. Of course, the amount is determined by things like age and zip code, but they are affordable. When it becomes needed, it becomes worth it. No one anticipates the need for the plans, but a time could come to anyone, any day.

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