Should I get supplemental Insurance?
Be prepared. Expect the unexpected. Hope for the best, but prepare for the worst.
You’ve heard these old sayings for years, but have you taken the time to heed their wisdom? When you experience unexpected illness or injury, you owe it to yourself and your family to be prepared – and more importantly, to be protected. At Wilson Consulting Group, we believe that protecting your family from life’s more challenging surprises is critical. That’s why we provide supplemental insurance products that can help you to rest easy and enjoy all that life has to offer.
Supplemental Cancer Policy
Cancer impacts millions of Americans each year, and millions more are left feeling overwhelmed when the disease strikes a family member. While the patient must face the days, weeks or months of exhausting treatment, the family members caring for the patient often have their own battle to face – the challenges that can arise from insufficient health insurance coverage. At Wilson Consulting Group, our goal is to help free patients and their families from the worry and anxiety of dealing with these challenges. Our supplemental Cancer plans pay benefits directly to our policyholders to help manage financial necessities that arise along the way.
- First Occurrence
- Internal Cancer
- Skin Cancer
- Radiation Planning
- Radiation and Chemotherapy
- Self-Administered Chemotherapy
- Special Treatment
- Surgery and Anesthesia
- Reconstructive Breast Surgery
- Second Surgical Opinion
- Bone Marrow Transplant and Donor
- Wellness Benefit
- Patient Transportation and Family Member Transportation
- Family Member Lodging
This insurance may not be available in all states and where available, benefits will vary. Benefits are for cancer only. Please see your Wilson Consulting Group agent for cost and complete details including any exclusions and limitations that may affect your benefits.
Intensive Care Policy
Severe illness or injury often strikes without warning and can require a stay in the intensive care unit. Intensive Care Unit coverage is designed specifically for this type of hospital stay and can provide benefits for confinements in a hospital intensive care unit for any covered illness or accident.
- Intensive Care Unit Confinement (Benefit doubles if confinement is due to a vehicular accident)
- Step Down Unit
- Air ambulance
- Accidental death
This insurance may not be available in all states and where available, benefits will vary. Benefits are for Intensive Care Unit confinement only. Please see your Wilson Consulting Group agent for cost and complete details including any exclusions and limitations that may affect your benefits.
Heart Attack/Stroke Policy
The number of people suffering from heart attacks and strokes is historically high and expected to rise, even as the medical community pursues more effective prevention and diagnostic measures to eradicate these diseases. The Heart Attack and Stroke Plan has benefits specifically geared toward containing the out-of-pocket costs associated with a heart-related illness.
- First Occurrence
- Surgery & Anesthesia
- Healthy Heart Benefit
- Patient & Family Member Transportation
- Family Member Lodging
- Physical Therapy
- Heart Transplant
This insurance may not be available in all states and where available, benefits will vary. Benefits are for heart disease, heart attack and stroke only. Please see your Wilson Consulting Group agent for cost and complete details including any exclusions and limitations that may affect your benefits.
Hospital Indemnity Policy
Whether planned or unplanned, a hospital stay can be stressful for both the patient and family. The deductibles, coinsurance, and copayments can be confusing and often leave you paying out-of-pocket for more than you planned. The Hospital Indemnity plan is designed specifically to help offset those out-of-pocket expenses when you or a family member has a hospital stay. And, like all of our products, benefits will be paid directly to you, regardless of your other coverage.
This insurance may not be available in all states and where available, benefits will vary. Please see your Wilson Consulting Group agent for cost and complete details including any exclusions and limitations that may affect your benefits.
While none of us can predict when an accident will occur, we can certainly be prepared for them. We encourage our customers to “expect the unexpected” and help protect themselves with our Accident plans that can provide coverage for the bodily injuries that can result from life’s accidents. Because when these unplanned events occur, you want to focus on what is most important – getting well.
- Physical Therapy
- Surgery & Fractures
- Emergency Treatment, Lacerations
- Accidental Death
- Significant Diagnostic Scans
- Observation Room
- Concussion / Coma
This insurance may not be available in all states and where available, benefits will vary. Benefits are for injuries sustained in an accident only. Please see your Wilson Consulting Group agent for cost and complete details including any exclusions and limitations that may affect your benefits.
A Wilson Consulting Group professional insurance advisor can help you find critical illness insurance and other types of health insurance coverage.
No. Disability insurance, also known as “income replacement” insurance and provides a monthly income replacement benefit if you become disabled and can no longer perform the normal duties of your work. Generally, the benefit is limited to a percentage of your regular income and ceases once you earn an income or you no longer meet the definition of disability in the contract.
Unlike critical illness insurance, which provides the full policy benefit in a lump sum payment on diagnosis of a critical illness, long-term disability policies may have a waiting period from the onset of disability. Unlike critical illness benefits, long-term disability benefits may be affected by other income you receive or by your full recovery from the illness.
No. Long-term care insurance provides for personal care on a long-term basis if you need supervision or assistance with daily living activities due to a chronic illness, disabling condition or cognitive impairment.
Long-term care policies generally pay a pre-determined daily benefit amount on a monthly basis. There are usually no restrictions on how the money paid out is used. Some policies only pay for specific expenses incurred for various types of care, such as nursing home or home health care, etc.
You are entitled to collect the entire benefit even if you make a full recovery.
If you die for a reason not covered by the critical illness policy, the premiums you paid may be refunded to your named beneficiary. Some plans will return the premium or a portion of the premiums paid during the life of the policy if the policy matures and no claim has been paid.
Generally, a lump sum or predetermined fixed amount tax-free benefit payment will be made to you 30 days after the claim has been approved.
There are no restrictions on how you use the money.
Once your claim is paid, your critical illness insurance policy ceases.
You can make a claim if a physician, licensed to practice medicine in and specializing in your particular illness, diagnoses you with a critical illness or disease covered by your policy.
Generally, the younger and healthier you are, the lower the premium (cost). However, the cost varies depending on your age, medical condition, your immediate family medical history, the amount of coverage, the number of illnesses covered by the policy, and the insurance company.
It pays to shop around to get the best rate. When shopping for a critical illness plan, you should consider your income, financial obligations, dependents, and health care needs. Your professional insurance advisor can assist in finding you the best plan for your needs.
In determining your need for critical illness insurance, you should consider your personal circumstances and the added financial strain that could be brought about by dealing with a serious illness or disease. Public and private health insurance plans typically do not provide coverage for day-to-day living expenses such as travel to and from treatments, home care and childcare.
Although they can differ from policy to policy, typical illnesses and diseases covered by critical illness insurance may include:
- aortic surgery
- aplastic anemia
- bacterial meningitis
- benign brain tumor
- cancer (life-threatening)
- coronary artery bypass surgery
- dementia including Alzheimer’s
- heart attack
- heart valve replacement or repair
- kidney failure
- loss of limbs
- loss of speech
- major organ failure
- major organ transplant
- motor neuron disease
- multiple sclerosis
- occupational HIV infection
- Parkinson’s disease
- severe burns
Coverage can also vary according to the degree of severity of, or conditions associated with, an illness or disease. For example, if you are diagnosed with a type of cancer that is treatable and is not life-threatening you may not be eligible to make a claim.
Coverage cannot be purchased for a pre-existing condition or illness.
It is important to read your policy carefully. In addition, be sure to ask your insurance professional to provide you with a complete explanation of your coverage.
Critical illness insurance is a form of health insurance that provides a lump-sum payment should you become seriously ill.