How Does a Supplemental Health Insurance Plan like Aflac and Colonial Work?
Supplemental insurance, such as what Aflac and Colonial offers, pays a cash benefit to the insured. The amount of cash and how it is paid out depends on the supplemental health insurance plan or policy. Some popular supplemental health insurance policies are specific disease insurance such as for cancer, accidental death and dismemberment insurance or accident health insurance, and hospital indemnity insurance. Determine Your Need for Supplemental Health Insurance Since you already have health insurance do you need any of these supplemental health insurance plans offered by Aflac and other insurance companies? Well, that depends on your risk factors and how much insurance you want to carry or can afford to carry and how much savings you have put back. First, Obtain a Good Health Insurance Policy Of course, the first thing you want to have is a good health insurance policy. A good health insurance policy will pay for your health insurance bills just fine. Supplemental health insurance c
