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Buying Supplemental Insurance Online - A Revolutionary Change in the Supplemental Insurance Industry

By Joshua S. Smith

Supplemental Insurance, with an exception to life insurance, in the past has not been available for purchase online. Now, several types of supplemental coverage can be purchased online, including, cancer, heart attack, stroke, and accident insurance.

Supplemental Insurance is becoming a financial necessity, and let me tell you why. Health insurance premiums are spinning out of control, rapidly increasing yearly, with individual premiums at an all time high at $2,613/year, and $5,799 per year for families. With health insurance consistently increasing yearly, individuals are having to decrease coverage, and select higher deductible plans so they can afford health insurance. In doing this, it leaves larger gaps in coverage, and makes policyholders more financially vulnerable.

According to the American Cancer Society, the average debt for a cancer patient is $38,000. 75% of cancer patients had major medical insurance, and still ended up with that amount of debt. Why? Well, that's because historically health insurance, when it comes to cancer for example, only ends up covering about 70% of health expenses. Some of the main costs of cancer like experimental drug treatment, transportation, lodging, are not covered by major medical insurance plans. According to the American Bankruptcy Institute, more than 60% of all bankruptcies in the United States are health related, with half of them being cancer related. 3 of 4 of all who file bankruptcy due to cancer have a major medical policy. This is exactly why supplemental insurance is a necessity for every American family.

Even with major medical insurance, it's apparent that individuals, and families are still vulnerable to significant out of pocket costs, that most cannot afford.


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