Hospital Income Insurance
Flickr Photo Credit: Frazzled Jen
This is something we carry on ourselves as a very affordable way to provide financial back up in times of unforeseen medical emergencies.
It’s also great if you have children, as they are usually in the emergency room for one accident or another at least once a year. Since two of my close friends have recently gotten caught with the extra expenses that occur when a child has an accident (day care, taxi rides, take out food, extra services, the things that are hidden costs and medical insurance doesn’t pay for), and neither one of them was aware that this type of product existed, I decided it was probably time to post on the subject.
This product is very affordable, at least through our insurance company and the money comes directly to you. You receive a certain predetermined daily amount (you choose how much you want to receive daily and your premium is based on that) any time you are checked in to a hospital for a day or more. The amount is even higher if the covered party needs to go into intensive care for a length of time. There’s also a separate alottment for accident related emergency room visits (going in for the flu or a fever doesn’t count) that is quite large (well over a thousand dollars) and a huge help for those things that result after going in . . . take out food, taxi rides if your vehicle was also damaged, etc.
The amount for my husband and I to be covered each month is very nominal. If we had children, there’s no way I would be without it. One trip to the emergency room will more than cover the premium cost for the entire year. The friend I was talking to this week couldn’t believe no one had tried to sell her this product before, and said that one child’s broken arm had put a definite dent in things for them this summer, particularly since they are in the middle of house renovations at the same time.
I would think even single people could benefit from this product. One friend that comes to mind right now is selling one house and purchasing a new but smaller town house. The only person around right now to run around, leaf blow the patio for the house that’s selling to show, replacing the mulch, do the daily light dusting and other things that come with keeping a home in show condition at a moment’s notice . . . her. If she were to be in the hospital, for sure this would have to be hired out. What peace of mind a product like this might bring someone in her situation. She probably already has it, I don’t know. I bring this situation up as an example to show that nearly everyone can benefit from something like this, and it’s not an expensive monthly bill compared to how much security and peace of mind it brings.
Just sounding off on a great product idea that pays big dividends in a time of need. If you have any other stories about how having this type of insurance has saved your financial tush, please feel free to sound off. We’d love to hear from you.
