Major medical insurance provides coverage for services rendered through network physicians and facilities. Benefits are subject to network discounts to reduce overall cost for the insured. Plans are subject to deductible and coinsurance, as well as copays, where applicable. The overall cost of the plan is dependent upon the structure of the benefits. Each plan has essential benefits which are required by law to allow for the insured be proactive with their overall health.
Dental insurance allows the insured to receive necessary dental procedures by network physicians. Preventative, basic and major services are covered, by design, to aid in overall cost of dental care. Preventive cleanings are encouraged to promote a healthier lifestyle, as well as examine for future ailments.
Corrective vision benefits provide allowances for lenses, frames, contact lenses, and materials. Vision providers offer discounted services to assist in the cost of corrective vision. Plan cost varies based on the design of the plan and the access of vision providers.
Life insurance serves as financial security for the policyholder and his/her beneficiaries. Benefits are paid to the beneficiary at time of death to provide financial support at a difficult time. Many benefit riders are available to enhance the quality of the plan. Group life insurance plans are designed to cover employees during their time of employment. Plans can be structured to allow the policyholder to continue coverage should they leave their place of employment. Typically, plans can be issued with a guarantee of coverage, which would not require evidence of insurability. Accidental death and dismemberment (AD&D) riders are commonly included with group life insurance plans to supplement the face value.
Short term and long term disability are insurance policies which provide income to individuals when they are unable to perform their normal occupational tasks. Disability plans are designed to provide a percentage of the weekly or monthly income of the individual, dependent upon the structure of the benefit plan. The duration of coverage can vary based on the design of the plan, as well as the severity of illness or injury. Short term disability is offered for immediate loss of employment due to injury or illness, whereas long term disability covers a longer duration should an individual be disabled. A waiting period exists in some plans to assure that the extent of disability will require time away from employment. The replacement of income is considered by consultants as a vital benefit for employed individuals.
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