facebook

Supplemental health Insurance

Help at every step of the way.

Call (888) 987-9594

View Products + Get a Quote ▼

Retired couple laughing and smiling at each other with their adult son and granddaughter in the background

Products Offered

Get a Quote

Give us a call at (888) 987-9594 or fill out the form below and an agent/producer
will contact you directly.

Protect your family with supplemental health insurance

What is supplemental health insurance?

Supplemental health insurance complements your major medical insurance to help protect you and your family from costs associated with serious illness or hospitalization. In such an event, your share of treatment costs may add up quickly. Not to mention, your non-medical, everyday expenses, such as house payments and groceries, still need to be paid. Supplemental health insurance provides benefit payments directly to you—so you and your family can focus on your recovery, not your finances.

Benefits of supplemental health insurance

  • Be better prepared to handle medical costs and out-of-pocket expenses that accompany unexpected health events.

  • Benefits are paid directly to you or someone you designate.

  • You have no restrictions on how you use your benefit payment. It can be used to pay for everything from deductibles and copays to house payments and groceries.

Supplemental health insurance plans

Critical illness insurance

Critical illness insurance covers cancer, heart attack, stroke and end-stage renal failure. Plus, it can also cover conditions such as Alzheimer's disease, blindness, paralysis, coma, transplant surgery/waiting list, amputation and deafness. We offer a variety of different coverage options, based on your areas of concern and need for specific coverage.

Understand the risk of a critical illness diagnosis

The risk of
CANCER

Critical illnesses like cancer are highly prevalent, hence opting for supplemental health insurance is the right thing for you and your family

1-in-2 men
1-in-3 women¹

The risk of
STROKE

Buy Supplemental Health Insurance and provide additional security to you and your family in the event of a stroke.

Every 40 seconds,
someone has a stroke²

The risk of
ALZHEIMER’S

1-in-10 Americans 65 and older suffer from Alzheimer’s and require additional health care expenses.

1-in-10 Americans
65 and older³

Hospital indemnity insurance

Hospital indemnity insurance complements your existing health insurance plan by paying you cash benefits when you're hospitalized due to covered accidental injury or sickness. Coverage options include a daily hospital stay, day one hospital admission, intensive care unit, emergency room visits and ambulance trips, among other choices.

Hospitalization facts and figures

$10,900
average cost

The average cost for hospital stay is very high and Supplemental Health Insurance can help pay for it.

of a hospital
stay in 2014.⁴

1/3
of all health care expenditures

One third of all health care expenditures are associated to hospital care in the U.S.

are associated to
hospital care in the U.S.⁵

34.8m
people

The number of annual hospital admissions is very high.

are admitted to
U.S. hospitals yearly.⁶

How do I know if I'm eligible for supplemental health insurance?

Step one in obtaining supplemental health insurance is completing an application. Our underwriters will review your medical history to determine if you’re approved for a plan. Your premium amount will be determined by the amount of insurance coverage you request, your age, tobacco classification, and what type of policy you request.

Call (888) 987-9594 or visit get a quote to learn what supplemental health plan you may be eligible for.

Why Bankers Life?

Simplified application process

Our knowledgeable insurance agents/producers sit down with you in your home to understand your preferences and goals. They'll provide you with simple, clear choices that meet your individual financial needs.

Personalized approach

With a history dating back to 1879, there are some things that never change. At Bankers Life, that means taking a personalized approach to helping the individuals and families we serve. As you enter and navigate retirement, we will be by your side every step of the way, helping to protect your financial security.

Service you can trust

Our agents/producers live in the communities they serve and travel to your home or business. Our goal is to provide excellent service to every policyholder and make your life easier when it comes to your claims.

In 2022, Bankers Life paid supplemental health insurance claims to over 60,000 policyholders, totaling $14 million.

Bankers Life is accredited by the Better Business Bureau with an A+ rating as of March 2023, in addition to receiving an A (Excellent) rating by A.M. Best Company for our financial strength.

FAQs

Critical illness insurance pays you benefits if you are diagnosed with a covered critical illness, such as cancer, heart attack or stroke. With most policies, benefits are paid directly to you when you are first diagnosed. You can then use your benefits however you choose.

When you have critical illness insurance, benefits are paid directly to you, or someone you designate, not to your health care provider. You can use the money you receive however you need, whether it's to pay medical bills, replace wages when you can't work, cover your mortgage and other bills, or pay for household expenses.

When you experience a common critical illness like cancer, heart attack or stroke, you may need extra resources to protect your family, finances and future retirement. Critical illness insurance helps ensure you have the protection you need right when you need it.

No, it does not replace major medical. It is a supplemental plan to help complement your existing medical coverage.

No. People at any age may experience sickness, covered accidental injury or hospital stays.

It is guaranteed renewable for life and your policy will remain in force for life, if you pay the required premiums on time. Your premium rates won’t increase unless all rates of the same kind are raised in your state.

For Hospital indemnity insurance, there is an optional rider with a separate premium that includes emergency room visits (maximum of two visits per calendar year). Immediate care and urgent care centers do not constitute an emergency room.

Yes, you can keep your policy—even if you change jobs, move to a different state, retire or enroll in a Medicare plan.

Yes, Bankers Life critical illness and hospital indemnity plans provide a lump-sum cash payout directly to the policyholder upon diagnosis of a covered, specified critical illness and/or condition. The policyholder can use this money for any expenses.

Meeting with a friendly, professional Bankers Life agent/producer is the first step. He or she can help you determine what specific coverage type and benefit amount would work best for your situation.