Supplemental Insurance

Supplemental Insurance Options

As a FREE resource to you, the professionals at Miller & Associates Insurance Solutions can help you bundle a quality insurance portfolio within your budget that includes Indiana supplemental insurance, giving you the piece of mind that only comes with having the right insurance coverage.

Life Insurance

Protect your family with a variety of Term Life, Permanent Life, Annuities and Final Expense insurance.

Accident Insurance

Accidents can happen anytime. Accident insurance helps you and your family be better prepared.

What is Accident Insurance?

Accidents can happen anytime. Accident Insurance is very affordable and provides benefits in addition to your regular health insurance and/or disability insurance, in the case of a accidental injury. Accident Insurance can go a long way to protect you from financial hardship due to a great deal of medical, recovery and out-of-pocket expenses that follow accidental injuries.

In the event of a covered accident, Accidental Injury insurance pays benefits directly to you or anyone you assign. How you use the money is up to you. Cover deductibles and copays for primary care visits and physical therapy, emergency treatment, hospital stays, medical exams, transportation and lodging needs, along with other expenses that regular health insurance doesn’t cover when you have an accident. Some policies can even pay benefits in as little as one day, based on time of claim submission.

Disability Insurance

Protect your most valuable asset, your ability to earn income for your and your family.

What is Disability Insurance?

Statistics show that our chances of becoming disabled are greater than dying between the ages of 25 & 45. During the time you are unable to work due to a qualifying disability, the replacement of your regular income through a monthly benefit provided by disability insurance helps to maintain your pre-disability lifestyle.

Employers often provide standard short-term disability (STD) and long-term disability (LTD) insurance to meet federal guidelines. Individual disability income insurance can be customized to meet your needs and considers your occupation, age, income and other factors in determining your cost and monthly benefit payment amount.

Who needs coverage?

Individuals who do not have disability through their employer can purchase an individual disability policy. Additionally, self-employed individuals who desire disability coverage can also purchase an individual policy. Even those who already have disability insurance through their employer, may wish to consider a “wrap around” disability policy to supplement their employer provided coverage.

What type of coverage is available?

A standard Short Term Disability (STD) policy allows for income payments to begin after a two-week waiting period. Payments will continue to the insured until he/she recovers or maxes out the benefits. Thus, total benefits for a STD could last for anywhere from one month to two years, depending on the policy.

A Long Term Disability (LTD) policy allows for income payments to begin after a ninety-day waiting period, although it could be much longer depending on the policy. Once payments begin, they will continue far longer than STD. Thus, the total benefits for a LTD could last for a few years, up to age 65, or even for life.

LTC Plans

Covers the costs above and beyond traditional insurance for chronic illness when you need assistance with daily living.

What is a Long Term Care Insurance Plan?

A Long Term Care Plan augments your health insurance or Medicare and pays for services associated with performing tasks required for daily living such as dressing, bathing, eating, getting in/out of bed, toileting, walking or other basic activities. These services fall under skilled care or personal care and are the types of services that regular health insurance, Medicare or Disability generally does not cover.

As stated, long-term care is usually not medical care and most often does not require a doctor or a nurse. In addition, the need for LTC is not always age related. In fact, statistics tell us that more than half of all individuals age 65 & over will need LTC at some point. Even so, it is important to note that roughly 40% of those receiving LTC today are between the ages of 18 and 64.

Why LTC Insurance?

Regular health insurance, Medicare or Medicaid typically will not pay for Long-Term Care services. The cost of LTC can quickly add up and burden those closest to you, both financially and emotionally. Purchasing a LTC plan can help you avoid those difficult situations, as well as give you the power you need to maintain control of your care, choosing the facilities that best suit your needs. Thus, instead of allowing welfare or the government to make your LTC decisions for you, you are in charge. Additionally, you should be aware that Disability Income Insurance is not designed to cover LTC expenses, but simply replaces part or all of your income during your working years should you become disabled. You need specific coverage to pay for long-term care needs.

Here are examples of what LTC policies may cover:

• Institutional Care: Nursing home, assisted living services, residential care facility, hospice care, adult foster home, respite care and more.
• Home Care: Home health care, adult day care, personal care, homemaker services, hospice care, respite care and more.

Critical Care Insurance

Helps to reduce the financial impact when you are fighting a critical illness.

What is Critical Illness insurance?

Critical Illness insurance is considered a type of supplemental health insurance that provides benefits in addition to your regular health insurance and/or disability insurance.

This special type of insurance coverage pays cash directly to you to help reduce the personal financial impact of the cost of fighting common types of critical illnesses, such as cancer, heart attack, stroke and more. With the advancements in modern medical technology, Critical Illness insurance is an increasing popular supplemental health insurance policy that allows you to focus more on recovery and less on the financial burden of a critical illness event or diagnosis.

Costs are based on your age and selected benefit amount. There is typically a 30 to 90 day waiting period.

Hospital Indemnity Plans

Pays a lump-sum payment directly to the insured for approved hospital stays.

Hospital Indemnity Plans

Unlike a traditional major medical plan that reimburses you or pays directly to a provider for approved hospital stays and medical care, a Hospital Indemnity Plan pays a lump-sum payment directly to the insured. The cash payment helps with out-of-pocket expenses and covers you when you are off work due to a hospital stay. The coverage is usually a set amount per day, per week, per month, or per visit depending on the benefit level selected.

Dental & Vision Insurance

Pays for a variety of diagnostic, preventative and corrective services.

High Net-Worth Life & Disability Plans

Because typical insurance only covers a fraction of a high income earner’s salary.

What is High Net Worth Insurance?

High Net-Worth Life insurance or High Net-Worth Disability Insurance is for people who have a high net worth, or who are high income earners. This type of life insurance helps you save for future goals, pays off your debts should you pass away, and may allow you to leave a large legacy behind to your family or favorite charity.

High limit disability insurance allows executives to maintain their standard of living in the event that an injury or illness leaves them unable to work.

These types of policies have a high dollar benefit payout, usually more than a million dollar death benefit, and the disability benefit may go as high as $50K a month. They come with a higher premium, so the carrier may qualify you before approving your policy.