Leading Insurer Offers Education for "Underinsured" Consumers
CHICAGO--(November 7, 2007) -- According to research recently conducted by Combined Insurance Company, almost 44 percent of respondents consider themselves "underinsured" and want protection beyond what is offered in their primary insurance plans. Yet only 18 percent feel they know enough about supplemental policies to make informed decisions. Combined Insurance, a leading provider of supplemental insurance for consumers, including the underinsured - those with basic healthcare coverage, but no supplemental protection - focuses on educating consumers about supplemental insurance and how it can help minimize risk.
Supplemental Insurance - It's about Protection
According to Jim Coleman, Chief Marketing Officer at Combined, "Millions of individuals and families across America are considered underinsured, but most consumers aren't sure exactly what supplemental insurance is or why they might need it."
"Supplemental insurance isn't as complicated as it may seem. It's really just a separate insurance plan that adds to or "supplements" life, health or Medicare coverage you might already have. It provides extra protection in the event of unexpected sickness, injury or death."
Why might someone need supplemental insurance? Sometimes primary health-related policies don't cover all costs associated with sickness or injury, such as deductibles and co-payments. Lengthy illnesses or a sudden death can result in unexpected expenses or a significant loss of family income. Supplemental insurance can help protect your savings and way of life. Depending on the type of additional protection needed, there are a variety of supplemental plans available, including:
- Disability - if you're unable to work, this coverage can help supplement lost income to ensure you can still cover some living expenses
- Accident - this supplemental insurance provides benefits that are paid directly to you and can be used to cover some of the out-of-pocket expenses related to medical treatment for accidental injuries that aren't fully covered by a primary insurance policy
- Health - this supplemental plan can help pay for some of the additional expenses related to unexpected illness, which may include hospital confinement, cancer treatment or outpatient care
- Life - in the event of your death, this coverage helps ensure your loved ones are financially cared for
- Medicare - for those approaching retirement age, a supplemental Medicare plan can help cover out-of-pocket expenses not covered by Medicare Parts A and B
- Long Term Care - this insurance helps cover costs associated with long-term care and provides protection should you or a loved one be unable to get back on your feet right away.
A Plan for Everyone
Supplemental insurance plans are available for a wide range of situations with an equally broad range of benefits in all price ranges.
"Combined insurance company representatives work with you to make it easy to determine the right protection for you and your family," Coleman states. "Our company representatives help assess both current and future needs and identify any gaps in existing coverage. They then explain the various kinds of protection available to address the consumer's needs. This approach of educating consumers can take the mystery out of supplemental coverage and help ensure people obtain the right level of protection for their unique situation."
About Combined Insurance Company
Combined Insurance (www.combinedinsurance.com) is a leading provider of supplemental accident, health and life insurance products and is a member of the ACE Group of Companies. With a field sales force and corporate staff in excess of 10,000 people worldwide, Combined meets the growing coverage needs of policyholders around the globe. For more information, call 1-800-490-1322 or visit www.combinedinsurance.com.
About Aon
Aon Corporation (NYSE:AOC) is the leading global provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. Through its 43,000 professionals worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Our industryleading global resources, technical expertise and industry knowledge are delivered locally through more than 500 offices in more than 120 countries. Aon was ranked by A.M. Best as the number one global insurance brokerage in 2007 based on brokerage revenues, and voted best insurance intermediary, best reinsurance intermediary, and best employee benefits consulting firm in 2007 by the readers of Business Insurance. For more information on Aon, log onto www.aon.com.
Source: Consumer Research Survey conducted in January 2007 by Connell & Associates for Combined Insurance Company
Contacts
Outlook Marketing Services, Inc.
Marcy Manning
847-465-8700 x14
or
Combined Insurance Company
Amy Burrell-Tichy
847-953-8321
Amy.burrell-tichy@combined.com