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Chicago, IL (October 19, 2007) - Bankers Life and Casualty Company introduced its newest health insurance product, the Senior Hospital Indemnity Product. The individual plan provides hospital and emergency room benefits to seniors on an indemnity basis.
“Even with good health insurance coverage, today’s seniors are still faced with many out-of-pocket medical expenses,” explains Scott Perry, president of Bankers Life and Casualty Company. “It’s these bills that can jeopardize their financial security, especially if there’s an unexpected hospital stay that forces them to dip into their savings or retirement nest egg.”
The new Senior Hospital Indemnity Product, designed specifically for seniors ages 65 to 84, works to reduce out-of-pocket expenses. The plan pays benefits directly to the policyholder. It uses simplified issue underwriting; no medical exams or physician statements are required.
Clients can select the amount and duration of the hospital benefit to give them a coverage level that fits their needs, or that covers co-pays or deductibles on their existing health coverage. The plan will also pay a fixed benefit for emergency room treatment.
Clients can further customize their coverage with optional riders, where available, that pay benefits for skilled nursing facility stays, durable medical equipment and ambulance service.
“We’re pleased to be making this product more available to the senior market,” adds Perry. “It’s a valuable addition that can help ensure that seniors have a more comprehensive plan in place when it comes to managing their health care expenses.”
Bankers’ new Senior Hospital Indemnity Product is currently available through Bankers’ career agents in 11 states, with additional states to offer the product throughout the 4th quarter of 2007.
About Bankers Life and Casualty Company
Established in 1879 in Chicago, Bankers Life and Casualty Company focuses exclusively on the financial security needs of the mature market. The nationwide company, a subsidiary of Conseco, Inc., offers a broad portfolio of health and life insurance and retirement products designed especially for seniors. Visit us online at http://www.bankers.com.