The following additional benefits can make an otherwise simple and basic hospital indemnity policy more comprehensive and attractive to consumers. These “other” benefits provide compensation for occurrences that one would not think they needed. Some of these benefits require extra payment, such as riders, others are included in the base price.

  • Hospital Admission – This additional benefit provides a lump sum for the first admission into a hospital room, many carriers offer this type of payment that isn’t a part of their base schedule of benefits. Another feature is this money can be used at the policy holder’s discretion rather than the money having to go to a particular treatment.
  • Term Life Benefit – Some carriers offer a life insurance payout that can equal almost two times the amount of total hospital coverage issued. This can be both an included benefit as well as a rider depending on the provider.
  • Drug and Alcohol Addiction – Usually given as a rider, this type of benefit is offered by few carriers, but those that do, provide a substantial per day payout if an insure needs addiction help from medical professionals.
  • Pet Boarding – In some cases, insures must be confined to a hospital bed for an extended period of time. Forcing them to leave loved ones, like pets, at home without proper care from the owner. For those without the means of finding a friend or a family member to be a temporary caretaker, some carriers will provide a daily benefit to help pay for a service to shelter the pet until the insured is ready to return home.

1Old Surety
3New Era
4United Healthcare
6Central States Indemnity
7Oxford Life
8Manhattan Life
10Equitable Life
12Heartland National
13Combined Life
15American Republic

About CSG Actuarial
CSG monitors senior markets to provide the most up-to-date competitive intelligence in the industry. CSG DataMart™ includes premium rate and underwriting information for more than 200 companies. Call 855-861-8776 or email to learn more.