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Home > General Insurance > The 411 on AFLAC - Is This Supplemental Insurance Right For You? The 411 on AFLAC - Is This Supplemental Insurance Right For You?Author: Jonathan Kraft As the health care crisis and health care debates struggle on, many consumers are looking into supplemental insurance policies to cover the gaps in traditional insurance plans. Having health insurance can offer a great peace of mind but most traditional plans leave gaps that can just about swallow a family's budget whole in a medical crisis.What services does AFLAC offer? Accident Indemnity Disability Income Protection Cancer Indemnity Hospital Protection Life Insurance Dental Long Term Care How is AFLAC different? The supplemental insurance policies from AFLAC pay above and beyond traditional insurance policies and they pay directly to you. You can request a payment be made directly to a medical provider, but otherwise all payments will come to you. Here's an example. If you purchase a policy for cancer indemnity that offers a $10,000 benefit and you are diagnosed with cancer, AFLAC will pay you $10,000 directly, regardless of your medical bills. This money can be used for medical bills that aren't covered of course. One costumer we talked with had taken out an AFLAC supplemental cancer indemnity policy and was later diagnosed with prostate cancer. He says the insurance money helped to cover: -Medical bill balances -Above average phone bills for making appointments, family support and so on -Travel and meals expenses during treatments -To pay off debt and relieve some stress during this time of missed work Another customer we talked to wishes she had purchased an AFLAC supplemental policy earlier. An AFLAC representative visited the school where she was teaching and although she was impressed with products, she thought she was too young at 26 to need them. A year later she was diagnosed with cancer and learned the hard way how fast medical bills and the incidentals such a gas money for travel and other supplies needed from bandages to electric blankets mount up. Of course AFLAC offers many products in addition to cancer indemnity products. Another way that AFLAC is different is that it is portable. Even though you may enroll in AFLAC through an employer (or not) you pay your own premiums, or you can have them deducted from your paycheck and your insurance can go with you if you lose your job, change jobs or move. In today's mobile world and in such a volatile employment climate, the portability of AFLAC insurance is a big plus. AFLAC is well-liked for these good points, as well as others such as easy claim forms that are available online and the fact that AFLAC plans also pay for some preventative services that many traditional plans don't pay for, but what about price? AFLAC is generally considered to have higher premiums than competitors but many feel that the ease, such as insurance without an exam, makes the cost worth it for an AFLAC supplemental policy. Some people point out the frustration that you cannot buy an AFLAC supplemental insurance plan online which is common with many insurance companies but this may really be a plus since meeting with a representative can insure that you understand all of the details on the insurance products that you are purchasing. Most customers report positive experiences with sales representatives and customer service reps although company administrators that oversee insurance benefits have privately said that customer service can be inconsistent which seems to be on par in the insurance industry. Good points about AFLAC: -Portable -Pays you directly -Offers many products -Claim forms are simple and available online -Pays for some preventative care Questionable points about AFLAC: -Higher premiums -Inconsistent costumer service -Can not be purchased online, must meet with a representative (which may be a positive) Overall, AFLAC has proven to be a trustworthy supplemental insurance company that offers several unique products and has many good points. Potential customers will have to be the final judge on whether or not the premium prices for the services make AFLAC supplemental insurance a good value for them. Jonathan Kraft is a recognized expert in helping people to understand consumer protection and finance topics. Learn more about the secrets used by identity thieves at the Identity Theft Secrets blog. Other Recent Insurance Smart Book Articles:
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