CHICAGO, Sept. 19, 2016 /PRNewswire/ -- Bankers Life
and Casualty Company, a national life and health insurer, today
announced a new hospital indemnity insurance plan to its portfolio
of supplemental health insurance products.
Hospital Indemnity Insurance from Bankers Life provides
cash benefits for hospitalization due to accidental injury or
sickness. The benefits paid can help cover out-of-pocket expenses
typically not covered by private health insurance or Medicare,
including deductibles and copays.
The product can be paired with any major individual or
employer-sponsored health plan and pays fixed dollar cash benefits
directly to the policyholder. It is targeted at individuals and
families who desire to protect their savings against high
healthcare costs.
"Nearly 35 million people are admitted to U.S. hospitals each
year and the average cost of a hospital stay is more than
$10,000," said Scott Goldberg, president of Bankers Life. "With
health insurance coverage trending toward higher deductibles and
copayments, consumers can face steep out-of-pocket costs when
admitted to an emergency room or confined to a hospital stay. Our
new Hospital Indemnity Insurance offers a lump-sum cash benefit so
that our policyholders can focus on their health and not on any
related expenses."
The benefits of Hospital Indemnity Insurance include:
- Guaranteed renewability for life as long as the required
premiums are paid on time.
- Benefits paid directly to the customer and not a doctor or
hospital
- No restrictions on how benefit payments are used
"Moreover, it offers one of the highest per-day benefit options
for both the Daily Hospital Confinement Benefit and the Intensive
Care Unit Confinement Benefit. Additionally, this is one of the few
products in the marketplace that offers benefit options for both
Emergency Room visits and Ambulance trips," added Goldberg.
Hospital Indemnity Insurance is currently available through
Bankers Life insurance agents in 15 states: Florida, Georgia, Iowa, Illinois, Kentucky, Michigan, Missouri, North
Carolina, Ohio,
Pennsylvania, Tennessee, Texas, Virginia, Wisconsin, and West
Virginia, with availability in other states pending. The
issue age is 18 to 85 and policy benefits may vary by state.
About Bankers Life
Bankers Life focuses on the insurance needs of middle-income
Americans who are near or in retirement. The Bankers Life brand is
a part of CNO Financial Group, Inc. (NYSE: CNO), whose companies
provide insurance solutions that help protect the health and
retirement needs of working Americans and retirees. There are more
than 5,000 Bankers Life insurance agents at over 300 offices across
the country. To learn more, visit BankersLife.com.
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SOURCE Bankers Life