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Supplemental Insurance

Name: BE Frank Insurance
Telephone: +12162878832
Price range: $$

Cash-benefit policies that fill the gaps your medical plan leaves.

Why supplemental insurance

Supplemental insurance can pay a cash benefit to you and help protect you financially.
Health insurance isn’t enough, especially if you have a high-deductible plan.
Illness and medical bills contributed to more than 62% of all bankruptcies.
Of those filing bankruptcy, almost 78% had health insurance (Harvard, “Medical Bankruptcy in the United States, 2007,” The American Journal of Medicine).
42% of Americans say they live paycheck to paycheck (2010 CareerBuilder survey).

Cancer insurance complements your medical and disability income coverage.
Eases the financial impact of a cancer diagnosis by providing a lump-sum benefit to help pay additional expenses.
Thanks to advancements in modern medicine, chances of recovery from cancer have greatly improved.
The lump sum can be used to pay deductibles, or normal living expenses like mortgage/rent and utility bills — “It’s your money … you decide how to spend it!”
Nearly 78% of all cancers are diagnosed in people 55 years and older.
Cancer is the second leading cause of death, behind heart disease.
1 in 2 men and 1 in 3 women develop cancer in their lifetime.
Common financial problems for cancer patients (Livestrong survey, 2015):
- 64% made financial sacrifices
- 59% used retirement or other savings
- 39% could not cover the costs of care
- 32% borrowed money or went into debt
- 66% worried about their future finances
Stand Up To Cancer — get involved

Critical illness insurance complements your medical and disability income coverage.
Eases the financial impact of a critical illness with a lump-sum benefit.
Most medical plans don’t cover everything — medical co-pays, deductibles, and home help can remain.
Every 40 seconds someone has a stroke; 79% of patients survive; the average out-of-pocket cost for stroke is $23,380.
In the U.S. a heart attack occurs every 43 seconds; 84% of patients survive; the average out-of-pocket cost is $21,955.
Cardiovascular disease is the leading global cause of death, claiming more lives each year than all forms of cancer combined.
The average cost of a severe heart attack (direct and indirect) is about $1 million.
Policy features:
- A lump-sum benefit to use as you see fit — medical expenses, mortgage, car payments, help around the house, experimental treatments, or even a vacation
- Coverage that can go with you if you leave your employer
Critical illness costs cause more than 60% of all bankruptcies; 78% had health insurance; the average medical bankruptcy is under $15,000.

Helps handle the medical and out-of-pocket costs that add up after an accidental injury — emergency treatment, hospital stays, medical exams, transportation, and lodging.
1 in 8 people seek medical attention from an injury each year.
67% of all emergency room visits are injury related.
Cost of a broken leg (costhelper.com):
- Without health insurance, non-surgical treatment typically costs up to $2,500 or more for a fracture that requires a cast
- $210 leg X-ray on average (NewChoiceHealth.com), but as much as $1,000+ at some radiology centers
- $221–$238 for application of a short or long leg cast
- $90–$200 typical doctor fee for non-surgical fracture office visit
- $250–$950 for treatment (Carolina Orthopedic Surgery Associates)
- Indirect costs: time off work, additional help at the house, transportation

Even with health insurance, hospital stays can be expensive.
Hospital confinement indemnity insurance can help pay for things like deductibles, transportation, and rehabilitation costs that would usually come out of your pocket.
Key features:
- Benefits can be based on days spent in a hospital, outpatient/inpatient surgery, emergency room, and rehab — depending on the plan’s design
- Lump-sum benefits are paid directly to you to spend as you want
- Help with out-of-pocket expenses that may not be fully covered by health insurance
- Benefits paid regardless of any other insurance you have
- Spend benefits on what you need — coinsurance, lodging, child care
The average hospital stay is 4.9 days.
The average cost of a hospital stay has doubled.

Disability insurance (income protection) insures your earned income against the risk that a disability keeps you from working — due to injury, illness, or a condition causing physical impairment.
About 90% of disabling injuries and illnesses are not work-related — which means Worker’s Compensation does not cover them.
1 in 4 Americans in the workforce today will suffer a disabling injury before they retire.
How much: the rule of thumb is that men spend 1–3% and women 2–4% of income on premiums to cover up to approximately 70% of pretax income.
Elimination period options: most plans offer 14, 30, 60, or 90 days; the longer you’re willing to wait for benefits, the cheaper the premiums.
Benefit duration: most plans offer at least 12-month and 24-month options; if the disability is serious, you must be disabled at least 24 months before you can get Social Security disability benefits.

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