by Guest » Tue Aug 24, 2010 07:49 am
My insurance agent is of the opinion that I should apply for trauma insurance considering my stress and risks at work. All he has to say is that it offers good benefits that bridges between disability and life insurance. Now, I'm not sure if it's some thing that I really need!
Posted: Wed Aug 25, 2010 07:27 am Post Subject:
Well, I guess it helps to improve your financial position. If you have a debt and fall into the high risk category, you'd definitely need such coverage.
Posted: Wed Aug 25, 2010 12:39 pm Post Subject:
trauma insurance
Do you mean health/medical insurance? Stress is not "trauma".
Disability income insurance provides a paycheck when you cannot work due to illness or injury. Life insurance provides for the loss of future income to others if you die. Health insurance pays hospital and doctor bills -- neither of which are covered directly by the other two forms of insurance.
So the answer to your question is probably yes. In addition to life and disability income insurance, you probably do need health insurance.
On the other hand . . .
All he has to say is that it offers good benefits that bridges between disability and life insurance
If your agent cannot discuss your needs more intelligently than this, you need a different agent with more experience or knowledge. If you're in California, I'd be happy to discuss your situation more directly.
Posted: Thu Aug 26, 2010 06:47 am Post Subject:
It's good for you if you're single and have none to depend on financially. Senior citizens who're prone to traumatic events will find it beneficial.
Posted: Thu Aug 26, 2010 06:35 pm Post Subject:
"Trauma Insurance" is another name sometimes given to "Critical Illness" insurance policies. These are limited benefit plans and are NOT a substitute for health insurance.
If you have no health insurance, an agent recommending this to you is not worth the commission he receives on the sale.
Find an honest-to-goodness experienced agent and have him/her review all of your current insurance to be sure it meets your needs (not just life and disability, but auto, homeowner's, and any business insurance you might have). If you're in California, I can help you.
Posted: Fri Aug 27, 2010 06:45 am Post Subject:
Thanks to all of you for these prompt responses. I do have a health insurance policy and my agent is insisting that I add this one too (considering the fact that I'm a detective). But if it doesn't cover my professional risks or stress related disorders, then I don't think it's worth an investment at all.
Posted: Fri Aug 27, 2010 06:53 am Post Subject:
Max, are you sure that trauma insurance is just another name for Critical illness insurance. I'm familiar with CI and I'm also aware that it covers for severe illnesses that are listed in your policy.
The term "trauma insurance" is creating a bit of doubt in my mind. It's just that I don't think the words 'trauma' and 'illness' are synonymous. You could perhaps clarify my doubt.
Add your comment