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Supplemental Insurance from Colonial
More and more studies show that health care costs continue to rise in this
country. Many employers are reacting by revising their insurance and benefit offerings to
reflect this trend and compensate for increased costs. What do these changes mean for you?
- 60 percent of U.S. businesses offered employer-sponsored health insurance to workers in 2005, compared with 69% in 2000 and 66% in 2003, as the cost of coverage continues to outpace inflation and wage growth.
- The decline in employer-sponsored health insurance comes mostly from small businesses, with 68% of employers with three to 199 workers offering coverage in 2000, compared with 59% in 2005.
- Premiums in 2005 increased an average of 9.2%
How will these possible benefit reductions and increased benefit costs affect your
insurance coverage? What about next year? What changes will it bring? We can’t
predict the future; we can help you prepare for what happens next.
Traditional medical insurance doesn’t cover every expense related to an illness,
injury or death. The bills and expenses continue to add up, especially if you have to stop
working and lose your income. How will you pay the deductibles or co-payments, and other
increasing medical costs not covered by your employer-sponsored insurance plan?
Supplemental insurance can help you prepare for these and other out-of-pocket expenses.
Most of all, these plans help take the worry away about how you will pay your
out-of-pocket medical and
other everyday life bills. Without this worry, you can focus on getting better.
Colonial’s supplemental insurance products help protect you in the following ways:
- Colonial’s disability insurance can help protect your most valuable asset –
your income. This insurance provides benefits to help offset the financial losses that may
result when you are disabled due to a covered injury or illness.
- Supplemental life insurance from Colonial is a valuable complement to employer-provided
life insurance.
- A serious accident, illness or hospital stay can result in significant out-of-pocket
expenses that aren’t covered by traditional medical insurance. Colonial’s
accident, cancer, critical illness and hospital confinement
indemnity insurance can help protect
against such expenses.
Colonial supplemental insurance is offered at the worksite (through your employer) and
features convenient payroll deduction for premium payments. Plus, many plans can be
purchased through a flexible benefits plan allowing you to pay for valuable Colonial
coverage with pretax dollars.
Colonial coverage is flexible so that you can tailor your supplemental coverage to help
meet your individual needs. With the help of Colonial’s experienced sales
representatives, you can choose the coverage that is most appropriate for the needs of you
and your family. Colonial offers the supplemental insurance plans listed below.
- Disability Insurance
- Life Insurance
- Accident Insurance
- Hospital Confinement Indemnity Insurance
- Cancer and Critical Illness Insurance
Supplemental coverage from Colonial can help see you through - for
what happens next.
This coverage may not be available in all states;
product benefits vary by state. Policies have exclusions and limitations that may affect
benefits payable. For cost and complete details, please see your Colonial representative. |
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