Supplemental insurance to cover gaps in your regular coverage.
It’s rare to find a major healthcare policy that covers 100% of medical costs. Aflac helps relieve the leftover strain through lump sum payments deposited directly into your account.
What is Aflac anyway?
If the voice in your mind sounds like a duck when you think, Aflac, you’re not alone. The company’s quack-quack mascot is well-recognized, but Aflac’s actual services may be less understood.
Think of Aflac as a sidekick to your regular insurance policy. It’s meant to provide a safety net of coverage, so that when the unexpected happens, it’ll be less of a jolt to your financial situation. Its supplemental insurance can help fill in the gaps of your regular coverage. Insurance policy offerings include:
- Accident
- Dental
- Vision
- Disability
- Cancer
- Critical illness
- Hospital
- Life
However, these policies aren’t comprehensive, so anything you purchase should be gravy on top of your meat-and-potatoes health coverage. It doesn’t deal directly with medical providers, favoring a direct payment to your bank account instead.
Aflac life insurance
Supplemental insurance explained
Supplemental insurance operates around the theory that major medical coverage doesn’t usually cover the full cost of treatment. Deductibles, copayments and coinsurance, medication costs and other out-of-pocket costs (think child care, lost wages, and transportation) are often left up to you. Supplemental coverage swoops in with a lump sum to help foot the outstanding bill.
How does Aflac work?
Let’s say you slip on an ice patch, fall and can’t walk. An ambulance takes you to the ER, where a physician takes a look, orders an X-ray and diagnoses you with a broken ankle. Even though each step of that process was necessary to your recovery, most major medical insurance on the market will only cover between 60% and 90% of costs — after you pay the deductible.
That’s where Aflac kicks in. Its One Day Pay feature can provide you with cash to cover the outstanding balance.
How much does Aflac pay when I’m hurt?
On its website, Aflac uses a broken leg as an example — the average cost of treatment is $7,152. Let’s say your regular insurance covers 60% of the costs. That leaves you owing $2,861. But if you’ve got accident and hospital insurance through Aflac, your payout is $2,734. That means you’re left with just $127 to pay out of pocket.
How do I sign up for Aflac?
If the company you work for offers Aflac coverage, you can add it through your workplace. But if you want to buy it independently — or you own a business and want to offer it to employees — you’ll need to start by requesting a quote:
- Go to Aflac’s website and hit Get a Quote.
- Indicate whether you’re An Individual or A Business Owner.
- Aflac will ask for your contact information, including your name, phone number, ZIP code and email. Then click NEXT.
- The next page, Call Time, will give you an estimate for when an agent will be in touch. Click SUBMIT to give them the green light.
An agent will be in touch to discuss your options for supplemental insurance.
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How do I file a claim?
When filing a claim, you have three different routes of action:
Required documentation when filing a claim.
In most cases, Aflac will need additional information to pay out your claim, including:
- Receipts
- Medical records
- Healthcare provider information
If you’re missing the necessary docs when you start the claim, you can add them later by clicking My Claims after logging in.
Bottom line
With Aflac’s supplemental coverage, you’re paying for peace of mind in the event of an unexpected illness or medical need. It also offers insurance to help with end-of-life costs, including guaranteed-issue options – but you’ll need to pay for that through your workplace.
Scout other life insurance providers if you’re hoping to buy it on your own.
