There’s More Than One Kind of Duck – Suplemental Insurance Alternatives for Individuals and Self-Employed

Supplemental insurance alternatives – There’s more than one kind of duck

The white talking duck has done a tremendous job raising awareness for availability of supplemental health plans and loss of wages (disability insurance) plans. These insurance policies  can help pay your bills if you get hurt or sick, whereas major medical only pays your doctors, hospital, and pharmacy. Many consumers are not aware that if their employer is not offering a supplemental health or disability income insurance policy, they still have multiple alternatives for similar, individual paid policies.

If you’re looking for a supplemental insurance plan that pays YOU, you have quite a few alternative insurance options:

Income Protection with Disability Insurance that pays you a monthly benefit if you get hurt or sick and can’t work; this type of insurance can help you pay your bills, groceries, rent or mortgage and any other family expenses. Income protection insurance replaces your paycheck when you run out of sick days at work. Your employer may offer a limited amount of sick pay, for 15 to 30 days or longer. What happens if an illness or accident keeps you unable to work for longer time period? How will you pay your bills, food and mortgage or rent? You can also add a rider that will return your premiums back if you reach retirement age and never received any benefits from your policy. Return of Premium (ROP) rider costs extra, but all premiums including the extra ROP premiums will be returned if you never receive any benefits from your disability insurance policy.

Cancer Insurance – as the name suggests, it will pay a benefit at first diagnosis of cancer. Very cost effective, these policies will cover your expenses for alternative treatments, or loss of time from work, or any incidental expenses caused by a cancer diagnosis. American Cancer Society shows alarming statistics where 1 in 3 will be diagnosed with some type of cancer in their lifetime. Add cancer insurance to supplement your health insurance plan today! You can select the Return of Premium (ROP) rider to refund your premiums if you don’t get diagnosed with cancer before the policy termination date.

Critical Illness (CI) – will pay a lump sum benefit at first diagnosis of a heart attack, stroke, coma, large burns, and many other critical illnesses. Benefits can be taken from $5,000 up to $500,000 in a lump sum after a critical illness diagnose. This type of policy can pay up to three times the benefit you choose (once for each of the three different categories of illnesses covered by the CI policy). ROP (Return of premium) is also available to refund your insurance premiums if you reach the policy maturity date and don’t get any of the covered critical illnesses.

Living Benefits Life Insurance – this hybrid term life insurance will pay benefits even before the death of the insured. Other than accelerated benefits for terminal illness, benefits may be paid for critical illnesses, disability insurance, cancer and job loss due to illness or accidents. Return of Premium is also available.

Mortgage Payment Insurance with unemployment mortgage protection – will make sure your mortgage is paid and help you and your family keep the home when you need it most: unemployment, illness, accident. Did you know that half of mortgage foreclosures in the US are caused by illnesses and medical issues? In comparison, only 3% of mortgage foreclosures were caused by the untimely death of the homeowner. Protect your family and keep your house with a mortgage protection insurance. You can add the Return of Premium rider as well, to get your premiums back if nothing happens and you never receive any benefits from your insurance policy.

Hospital and accidental benefits plan – will pay a benefit for hospitalization expenses. This plan can be used in conjunction with a high deductible major medical health insurance plan.





Ask for more info on any of these alternative supplemental insurance plans available to individuals and self-employed. Make sure that your insurance policy pays YOU as well, not just  your doctor or hospital.


Author: LifeGuy

Daniel LifeGuy Dragan has 126 posts in this blog.

Daniel is a dedicated insurance expert with a focus on helping individuals, families and small businesses avoid financial disasters with Life Insurance products, Paycheck Protection (Disability Insurance), Retirement planning, Cancer and Critical Illness Insurance, executive and business protection plans. With his comprehensive knowledge and experience in financial protection, Daniel can help save money as well as get all your insurance premiums returned to you if you didn't use any of the benefits. "Return of Premium" insurance is one of Daniel's strengths and along with his personal approach to his customers' needs, one of the main reasons his clients are referring him to friends, family and business partners. Daniel offers free financial consultations and can be reached by email at or phone: (239) LIFE-GUY or 239-466-4466



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