Medicare advisors

Hospital Indemnity

Product Overview

Hospital indemnity insurance pays a set amount for each day that an enrollee is hospitalized, without regard to the hospital expenses incurred. This supplemental insurance policy may also include payments per ambulance trip, surgery visit, or even increased payments for more critical ailments such as cancer or stroke.

Payouts from a hospital indemnity plan can be used for whatever purpose the beneficiary chooses, because this type of plan is not connected to specific services; payments are dependent on certain events.

For seniors on a limited income, this kind of policy can offset some of the extra expenses incurred by a hospital stay, ambulance trip, etc. that are not covered by their existing coverage.

Why Agents Offer Hospital Indemnity

Just as hospital indemnity plans aren’t the best fit for every client, they aren’t always the best fit for Agents. Consider these questions:

  • Are these plans beneficial for the people in your community and the areas you serve?
  • Do you offer similar/competitive products?

There are many compelling reasons to offer hospital indemnity plans, such as:

  • You can help families with some of the most difficult decisions of their life
  • You can provide your clients with peace of mind, as they will know they have a health plan behind them
  • You’ll be serving the needs of your clients and community
  • You can offer a profitable product that will help your bottom line

How to Get Started with Hospital Indemnity

If you decide to offer hospital indemnity plans, we recommend talking to someone from the Medicare Advisors team of experts. They’ll provide answers to your questions, and have tools available to support your new product offering.

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