Hospital expenditure is always a
tricky subject to broach. They are expensive, they are time consuming and even
take your savings on a roller coaster ride. It is hence always advisable and
safe to be insured also in situations like these. Some policies worth knowing
about are
●
Final Expense Life Insurance
●
Long-term Care Insurance
●
Guaranteed Lifetime Income Annuities
●
Critical Illness Insurance
●
Hospital Indemnity Insurance
Final expense insurance
Your funeral bill or maybe if your
family plans on going abroad to scatter your ashes. Final expense insurance is
sometimes called burial insurance. Even though it does seem insane, even
barebones funerals too can drill a hole in your pocket. So here's what you need
to know about final expense insurance.
Final expense insurance is not the
same as life insurance. Life Insurance provides monetary support for your
family, post death. It gives them a level of security to insure themselves in
the possibility of your demise. However, a final expense insurance deal with
all of the expenses that concerns your funeral, maybe you might have a desire
to have a bigger party or maybe a better casket.
Long term Care Insurance
It is a kind of insurance provided
for individual above the age of 65. It is mainly adopted by elderly people who
have chronic disability and require constant personal attention. Medical bills,
especially those in long-term care are usually skyrocketing when it comes to
payment. Nursing facilities may cost around $100 to $400 for a single week.
Opting for the right, long term Care Insurance can help you in the aspect of
financial aid from day one.
Guaranteed lifetime income annuity
Income annuity lets you channel a
part of your retirement funds into a regular source of guaranteed income. This
is done through an investment known as a single lump sum of money, or the same
is done through installments based on whatever is most comfortable for you.
This helps by ensuring your regular source of income liberates you from the
fear of burning up your savings.
Critical illness insurance
This is an insurance policy
wherein a policyholder is insured for a predetermined disease through payment
of a lump sum. The policyholder is insured in case he or she is diagnosed with
that predetermined disease. They are often required to go through a medical
examination by specialists for diagnosis of disease.
Hospital indemnity insurance
Hospital bills in general tend to
be extremely costly, even more so if you are confined within a hospital or
admitted into them. Hospital indemnity Insurance of hospital insurance covers
these sorts of instances, whether they are planned or unplanned. Hospital
expenditure, like most other expenditures, is unavoidable, it isn't money that
you can choose to spend or not. This insurance policy helps cover these
expenditures and for some other expenditures that are considered as a part of
it.
So, don't wait until it is too
late, get insured with our insurance
agents in Bolingbrook, and let us help you through the
times you might have to go through, together.
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