What is Supplemental Health and Accident Insurance?
Supplemental insurance policies usually pay out cash for specified events. For instance, a cancer policy may provide money for specific cancer treatments, transportation, and even lump sums of money that an ill person many need to pay bills if they are out of work. Broader policies also exist, that pay out for a variety of critical illnesses. These are usually called critical illness policies, and they may pay out for specific diseases like cancer and heart attacks. Another type of supplemental insurance is called a terminal illness policy and it may pay out if a policy holder is diagnosed with a disease that may end their life within a specified amount of time, usually 12 months. A supplemental health policy can make up for gaps in regular health insurance, or it can just help out with money to pay bills.
Like supplemental health insurance, supplemental accident policies can work in multiple ways. So