Coverage and Care When It Counts
Little did Angela Thomsen know that just weeks after purchasing an accident and hospital indemnity supplemental insurance policy marketed by Platinum Supplemental Insurance, she would be taking a trip to the emergency room with her 2-year-old James.
Angela and husband Jeffrey are farmers in Olin County, Iowa, and they have three young children: Claire, who is three; James, who is two; and Audrey, who is just under a year old. Being a young, active family, the accident and hospital indemnity policy* made a lot of sense for them.
Many of Platinum’s farming customers choose to purchase the policy because it not only helps cover high deductibles when there is a hospitalization, but it also offers very attractive accident benefits that pay for things like cuts, fractures and dislocations. (Click here for the full product brochure.)
Only six weeks after Angela and Jeffrey purchased the policy, their middle son, James, was playing in the bedroom, fell off the bed and—you guessed it—bumped his head.
While minor, the accident did require a trip to the emergency room, since he ended up with a nasty gash. But, other than requiring about four stitches, the little guy was just fine.
Under the benefits provided by the policy, the Thomsen family received $500 for the emergency room visit and another $2,500 because James’ cut required at least one stitch. (Click here to view the full list of benefits.)
The out-of-pocket expenses associated with the incident totaled about $700, Angela recalls. So, the $3,000 received easily covered the young farming couple’s unbudgeted medical expenses.
When Platinum agents stopped by the Thomsen farm to present the policy to them, Angela was skeptical. “To be honest, my first reaction was, ‘I do not want to pay for more insurance. I feel like we are insurance poor with our regular major medical insurance.’ But, I agreed to hear them out.”
After the agents reviewed the policy with them, the Thomsens ended up changing their minds.
“They [the agents] were both very nice and helped us understand how the policy would benefit us, and that really changed our minds,” Angela said.
Products and policy benefits vary by state.