New Study Says Supplemental Insurance is a Must in Current Economy
January 22 2009 - 3:03PM
PR Newswire (US)
CARMEL, Ind., Jan. 22 /PRNewswire/ -- Supplemental health insurance
can be an affordable safeguard against the threat of financial
insolvency related to major illness or injury many Americans face
today, according to a new white paper study released by Conseco
Insurance Group. The study, Supplemental Health Insurance: A 'Must'
for Americans in the Current Economy, says that due to the risk of
incurring illnesses or injuries, the high cost of medical care, and
the gaps in the insurance coverage carried by most people, the
protection afforded by supplemental health products has never been
more important to American families. Not only are hospital stays
and doctor bills a looming threat to financial stability, but also
additional expenditures related to the nonmedical aspects of care,
such as transportation to and from medical facilities, lost wages
and additional child care. In fact, cited in the study is the fact
that medical debt is a leading cause of personal bankruptcies in
the U.S. today. The white paper, a summary of current research
published in December 2008 by Ryan Berry, Connie Burgess and Kate
Nelson of Conseco Services, recommends that an individual in the
market for supplemental health insurance should look for: --
Lump-sum benefits, which are paid when the consumer is diagnosed
with a common catastrophic illness -- Indemnity benefits, which
offset the medical costs associated with hospital and ICU stays,
chemotherapy, radiation and corrective or preventative surgery --
Transportation benefits, which help insured persons cover the cost
of travel to and from a medical center for treatment -- Coverage
for regular diagnostic tests, such as mammograms, Pap smears and
colon screenings -- A premium-return feature, also known as a "cash
value" or "return of premium" rider. As the name implies, this
benefit can return premium to the policyholder if coverage is kept
for a certain period of time. It gives the buyer assurance that
they will get premiums back if the insurance coverage is not
needed. "In this economy, the potential for financial difficulty
arising from a serious illness or injury is too high to ignore,"
said Steve Stecher, President, Conseco Insurance Group. "American
families deserve to know the options available to them through
supplemental health insurance to help them pay bills and maintain
their standard of living." For more information on supplemental
health insurance policies from Conseco Insurance Company that meet
your needs, or to view the complete white paper study, logon to
http://www.conseco.com/. Conseco, Inc.'s insurance companies help
protect working American families and seniors from financial
adversity: Medicare supplement, long-term care, cancer,
heart/stroke and accident policies protect people against major
unplanned expenses; annuities and life insurance products help
people plan for their financial futures. For more information,
visit Conseco's web site at http://www.conseco.com/. The financial
condition and contractual obligations of Conseco, Inc. are separate
from its subsidiaries. Policies are issued by Conseco Insurance
Company, a life and health insurance company, and have limitations
and exclusions. For costs and complete details of coverage, contact
an agent. Certain policy benefits, features and riders may vary by
state and are subject to state availability. DATASOURCE: Conseco
Insurance Group CONTACT: Media Oakes, Corporate Communications,
+1-317-817-3768 Web site: http://www.conseco.com/
Copyright