We’ve all experienced dramatic changes this year amid the COVID-19 and its’ aftermath. For some the isolation has strengthened relationships while, for others, it’s caused households to crumble. We have watched communities come together to support one another, and healthcare workers fight for us on the front lines. As a global economy we’ve also seen record numbers of unemployed workers as business struggle to stay alive. Whether you’re making your way back to normal, or still sheltering at home, have you taken the time to evaluate your work benefits and what they mean for your family?
While most Americans can’t afford health insurance outside of their employer, other benefits are available through private insurers at competitive rates. The benefit of purchasing these policies independent from your employer is that if your employment status changes you can find comfort in knowing that these policies won’t change. So what are some examples of policies you can obtain from your insurance agent?
Hospital Indemnity insurance is best recognized as the coverage sold by a white duck. The duck promises to pay your hospital bills where there are accidents an emergencies. Hospital Indemnity plans come in many different forms but the basic idea is that if you or a covered family member were to go to the ER or hospital, the policy will pay you cash according to the contract. That money can be used for insurance deductibles, co-pays, or whatever your family may need.
Life insurance is the only insurance policy you’ll buy that’s guaranteed to pay out to your family at their time of greatest need. If you are like so many Americans who only have life insurance through their employer this pandemic should have helped you to see what a mistake that is. The younger you are, the more affordable life insurance is. Truly, can you put a price on taking care of your family after you’re gone?
Disability Insurance helps bridge the financial gap that can be caused by illness or injury. Employers offer it as part of their benefit package but when employment changes, so does their disability insurance. Make sure you have something in place that can help pay the bills no matter who you’re employed with.
Call your insurance agent today. Let them answer your questions about putting an emergency financial plan in place for you and your family.
Kelly Motter, Agent
State Farm Insurance
1331 Freeport Rd
Cheswick, PA 15024