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Employees often look to their employer for supplemental insurance products to help close the gaps that can be left by traditional types of insurance. We provide employees with individual supplemental life, accident, critical illness, cancer and disability insurance products, through their workplace. When employees own their policies directly, the policies are portable and move with employees to new positions so long as the policy terms are met.
If you were to die prematurely, those left behind could face a major reduction in household income and financial stability. A Universal Life policy can help provide for your family’s needs after your death. Universal life insurance provides lifelong insurance protection, as well as a death benefit that may offer your family the means to help cover final expenses, maintain their way of life or supplement college or retirement savings.
If you were to die prematurely, those left behind could face a major reduction in household income and financial stability. Term life insurance provides coverage for a set period of time, which includes a death benefit that may offer your family the means to help cover final expenses, maintain their way of life or supplement college or retirement savings.
Accidents are, by nature, unpredictable, and the costs arising from accident-related injuries can be startling. While some expenses are covered by most medical plans, others, such as travel to distant treatment facilities, are not. Accident insurance benefits are payable for each covered treatment received when you or a family member (depending on your coverage) becomes injured as the result of an accident.
Being diagnosed with a critical illness can generate costs that may or may not be covered by traditional health plans. A critical illness insurance policy can help you cover these costs, leaving your family savings intact. Upon diagnosis of a covered critical illness, critical illness insurance delivers a single-payment benefit directly to you, to use as you see fit, for example to help cover medical costs, pay your bills or maintain your lifestyle.
Regardless of a person’s age or lifestyle, the risk of cancer is a reality, and the costs can be overwhelming. Even if you already have a good health insurance policy, a cancer diagnosis can lead to financial difficulties from expenses that are not traditionally covered, such as medial co-pays, deductibles and some prescriptions. Cancer insurance can also help cover out-of-pocket costs such as travel to medical facilities, nursing services, lost income and experimental treatments. Upon diagnosis of cancer, cancer insurance pays an initial lump-sum benefit, and then delivers timely payments to cover services and treatments as they’re received.
Losing the ability to work due to an illness or injury, even for a short period of time, can lead to serious financial difficulties. The financial impact of lost income is deepened by additional expenses such as medical costs, child care and special equipment. To fill this gap, families often tap into their education or retirement savings. Disability insurance can help by providing a regular monthly benefit directly to the insured. The benefit can be used to help cover lost wages, and offset increased medical bills, and is payable in addition to any Social Security or workers’ compensation you might receive. This helps you continue meeting your financial obligations and taking care of your family while you focus on recovering.
Learn how to access American General’s individual worksite products.
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