It's not often that the insurance industry coughs up something that's truly "new," but I must admit, this certainly seems to qualify:
"Hospital Recovery Insurance ... pays cash benefits upon discharge from the hospital, helps ... in the recovery stage following a hospital stay."
Unlike typical insurance plans, which pay (or help to pay) for the hospital stay itself, this one pays after you've been discharged and (presumably) on your way to wellness. I "click[ed] here to download the 4-page pdf," and (after completing a routine form), found myself staring at a "Plan-At-A-Glance" flyer.
It's kind of interesting: you can select a benefit of $100 to $999, payable for each day that one spent in the hospital (up to 15 days-worth). Seems pretty simple and straightforward, and the list of exclusions actually make sense (no benefits payable for, for example, "engaging in hazardous activities," "elective surgery that is not medically necessary," and "normal pregnancy except for complications of pregnancy," among others).
They even included rates, which are age- (but not sex-) based. For example, a 35 year old can buy a daily benefit of (for example) $300, which becomes a "bank" of $4500, for about $17 per month. On the other hand, I have to believe that their primary market is going to be folks a little further along life's path: at age 75 (the oldest for which premiums are provided), the rate soars to $78 a month for that plan (which makes sense).
They didn't provide a sample policy or application in the announcemail (understandable), but one presumes that it's fairly simple.
I'm not necessarily convinced that this is really "must have" coverage, but it's nice to see folks looking for new marketing ideas, and thinking outside the box.
"Hospital Recovery Insurance ... pays cash benefits upon discharge from the hospital, helps ... in the recovery stage following a hospital stay."
Unlike typical insurance plans, which pay (or help to pay) for the hospital stay itself, this one pays after you've been discharged and (presumably) on your way to wellness. I "click[ed] here to download the 4-page pdf," and (after completing a routine form), found myself staring at a "Plan-At-A-Glance" flyer.
It's kind of interesting: you can select a benefit of $100 to $999, payable for each day that one spent in the hospital (up to 15 days-worth). Seems pretty simple and straightforward, and the list of exclusions actually make sense (no benefits payable for, for example, "engaging in hazardous activities," "elective surgery that is not medically necessary," and "normal pregnancy except for complications of pregnancy," among others).
They even included rates, which are age- (but not sex-) based. For example, a 35 year old can buy a daily benefit of (for example) $300, which becomes a "bank" of $4500, for about $17 per month. On the other hand, I have to believe that their primary market is going to be folks a little further along life's path: at age 75 (the oldest for which premiums are provided), the rate soars to $78 a month for that plan (which makes sense).
They didn't provide a sample policy or application in the announcemail (understandable), but one presumes that it's fairly simple.
I'm not necessarily convinced that this is really "must have" coverage, but it's nice to see folks looking for new marketing ideas, and thinking outside the box.
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