Frequently Asked Questions

More questions? Contact us to let us know.

Hospital Supplement

Hospital indemnity insurance is a plan you can purchase in addition to your health insurance plan. If you spend time in the hospital due to a sickness or accident, it pays you a fixed benefit amount to help cover expenses like your deductible, coinsurance, transportation, medications, rehabilitation, or home care costs.

Liferaft's hospital indemnity insurance premiums start at $5 a month, and vary depending on your plan level, age, and state of residence. Based on the plan you select, you may receive between $100 to $500 per day spent in the hospital, and between $200 to $1,000 per day spent in the ICU.

Get your personalized quote for pricing details and specifics on benefit maximums.

Hospital indemnity insurance is a type of insurance that provides a cash payout to you based on certain hospitalization-related events. This type of insurance can help cover expenses that your regular health insurance may not cover, such as your deductible, coinsurance, or transportation costs.

A hospital supplement plan is a great option for anyone who wants additional financial protection in case an accident or sickness leads to a hospital stay. This can include people with high-deductible health insurance plans or anyone who wants peace of mind for worst-case scenarios.

Critical Supplement

Critical Supplement will cover cancer, stroke, heart attack, kidney failure, major organ transplant, and coronary artery bypass surgery, depending on your plan selection. Certain illnesses will receive full or partial benefits, depending on the severity of the illness and the specifics of your plan.

Get your personalized quote for pricing and plan specifics.

Liferaft's Critical Supplement Insurance premiums start at $2 a month, and vary depending on your plan level, age, smoking status, and state of residence. Based on the plan you select, you will receive between $5,000 to $30,000 upon diagnosis of a 100% covered critical illness.

Get your personalized quote for pricing and payout specifics.

Upon diagnosis of a covered critical illness, you may receive a lump-sum cash payment that you can use to pay for anything you like. This financial safety net can compensate for lost wages, cover additional travel expenses for care, or give you the financial flexibility to elect a treatment plan that isn’t fully covered by your insurance.

The cost of your Critical Supplement plan should be weighed against the amount you would have to pay out-of-pocket if you had no coverage. Personal risk factors, like age, smoking habits, or family history, can influence how likely you are to experience critical illness. A critical illness like cancer can result in major out-of-pocket expenses. For example, one in five cancer patients reported spending over $20,000 in out-of-pocket costs each year for treatment. Consider both your current healthcare coverage and your preparedness to absorb the financial burden of a critical illness.

Accident Supplement

Liferaft's Accident Supplement reimburses you for medical expenses arising from an accident after your insurance benefits have been paid out. The plan covers inpatient expenses such as boarding, ICU, treatment, and nurse services. It also covers outpatient expenses such as office visits, diagnostic imaging tests, and physiotherapy. This coverage can give you peace of mind in knowing that your expenses will be covered, even if your regular health insurance policy doesn't cover them all.

The Liferaft Accident Medical Expense plans range from $2,500 to $10,000 in benefits. Accident medical expense insurance plans reimburse you for any expenses remaining after your insurance benefits have already been paid. With that in mind, a good rule of thumb is to look at your plan’s annual out-of-pocket maximum and pick the plan that will cover up to that amount.

Liferaft's Accident Supplement insurance premiums start at $6 a month, and vary depending on your plan level. Based on the plan you select, you will be reimbursed for covered medical expenses ranging from $2,500 to $10,000.

Get your personalized quote for pricing and plan specifics.

Accidental Death & Dismemberment Insurance is included as part of Liferaft Accident Supplement Insurance. AD&D provides financial protection in the event of loss of life, limbs, sight, speech, and hearing. Depending on your plan selection, these cash benefits range from $5,000 to $20,000 and can cover expenses such as funeral costs, medical bills, and lost income.

Help