Wednesday, March 4, 2020

What Coverage For the Coronavirus?

A few days ago I met with some other insurance agents for a nice lunch. Quickly the conversation turned to current events and, of course, the Coronavirus came up. One colleague, half joking, asked the group what policy would best cover the bug.

Insurance agents can be a weird lot sometimes. In a nutshell, we sell policies to cover loss of life, income, or other tragedies. When you deal with such morbid topics all day it affects your sense of humor. And it also makes you wonder how to sell a product when a pandemic is at hand.

Quickly and without hesitation someone blurted out, "A Hospital Indemnity plan!" with great enthusiasm. Maybe a bit too much enthusiasm. The rest of the table nodded in agreement to this idea.

At this point you're probably asking yourself what a Hospital Indemnity (HI) plan is and what does it do. In a nutshell the typical HI helps cover expenses associated with*:

  • short hospital stays
  • ambulance trips
  • outpatient surgery
  • critical accidents
  • emergency room visits
Hopefully, your major medical insurance will cover most of the hospital and/or doctors bills if you're stricken by the Coronavirus. And if you think you may need an extra layer of protection to cover the out of pocket expenses that can go with any illness, perhaps a Hospital Indemnity policy is for you. Luckily, we at Surf Financial Brokers may be able to help.

*Please note that not all plans cover all of the above, but you get the idea. 

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient. 

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