Sunday, April 22, 2018
 
 
Company News: Page (1) of 1 - 04/11/18 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook
Benefits Administration Company, Clarity Benefit Solutions, Provides Four Reasons Brokers Should Offer Critical Illness Policies
 
(April 11, 2018)

NEW YORK, April 11, 2018 /PRNewswire-iReach/ -- Benefits administration company, Clarity Benefit Solutions, provides four reasons brokers should offer critical illness policies.

Studies show that several medical costs, such as those related to heart attack, stroke, and cancer, are not covered by health insurance. Coupled with the rise in popularity of High Deductible Health Plans (HDHPs), many people cannot pay for these expenses, even though they have medical insurance. Critical illness policies can help. Here are four reasons that brokers should offer critical illness policies.

  1. A safety net against financial catastrophe. Critical illness policies can help to pay medical bills, alternative treatments, or living expenses that health insurance plans do not cover. Unlike disability insurance policies, which are based on the insured person's inability to work, critical illness policies typically offer a lump sum that is tax-free and paid upon diagnosis of a covered condition. There are some policies that establish a specific survival period (the number of days the insured must survive post-diagnosis before the benefit is payable).
  2. The policies are flexible. Since critical illness policies are paid in a lump sum, the policy holder can use the monies to pay for both medical and nonmedical expenses. Employees can choose how to spend their money for things such as paying for a procedure, purchasing gas to travel to and from appointments, or modifying a home to accommodate a disability.
  3. Critical illness policies are in high demand. Demand for these policies continues to increase, as more and more Americans are engaged in preparing for the unexpected and seeking the security that critical illness policies provide. Medical advances have made it possible for more people to survive serious conditions and illnesses, making critical illness policies impactful.
  4. Brokers can increase their bottom line. Offering critical illness policies can be highly profitable. Premiums vary by a person's health, age, and smoking habits—with an average policy having approximately at $2,200 premium with a first-year commission of 70 percent and four percent commission for renewal. It is important to talk with clients about the high costs of unexpected medical situations, even if they have insurance.

About Clarity Benefit Solutions: Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.



Media Contact: Calvin Clark, Clarity Benefit Solutions, 7324288282, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

 

SOURCE Clarity Benefit Solutions

Copyright 2014 PR Newswire. All Rights Reserved


Page: 1


Related Keywords:Insurance,Surgery,Insurance Companies,
Related Sites: DMN Newswire ,   HTN - Health Technology Net
Related Newsletter: Tutorial Finder ,   Review Seeker ,   DMN Newswire Newsletter
 
 
 
 
 
 
 
 
 
 
 
 





Our Privacy Policy --- About The Health Technology - Contact Us - Advertise With Us - Privacy Guidelines