This is a traditional health insurance plan offering comprehensive individual and family coverage for people with or without a workplace or group insurance option.

• Typical policies include routine wellness and emergency care
• Can include prescription drug coverage
• Copays, deductibles and maximums normally apply

Fixed Indexed Annuities are fixed annuities with performance typically tied to a stock market index.

• Allows interest that is earned to be based on index gains without risk to principal or interest that has been previously credited
• May provide additional benefits through riders such as Lifetime Income Benefits and Enhanced Death Benefits

Deferred annuities offer tax-advantaged growth and savings with the ability to receive income payments guaranteed for life if desired. Usually purchased to supplement retirement income.

• Guarantee the preservation of principal.
• Provide minimum guaranteed rate of return over the life of the contract
• Generally allow a percentage of the interest and/or principal to be withdrawn early and without penalty
• Offer additional features and benefits through riders such as Guaranteed Withdrawal Benefits or Enhanced Death Benefits
• May be referred to as single premium deferred annuity (SPDA); flexible premium deferred annuity (FPDA); deferred income annuity (DIA); or single premium immediate annuity (SPIA)
• Include multi-year rate guarantee of interest as well as a minimum guarantee of interest that will accumulate over a period of time
• Income annuities guarantee a minimum income amount for life or for a certain period

In addition to annual exams and cleanings, dental coverage generally includes:

• Fillings and X-rays
• Tooth extractions, root canals and dentures
• Some plans include partial coverage for orthodontics

Some providers offer tiered coverage based on price, which can be helpful to those on a budget. Plans may cover:

• Yearly doctor visits
• Glasses, contact lenses and cataract surgery
• Discounts on vision correction procedures, such as LASIK

Usually includes hearing exams, evaluations, and treatment for hearing loss

• Some plans may cover hearing aids and hearing aid repair completely
• Others cover a portion of hearing aid costs

Some expenses associated with cancer care are not covered by standard health insurance. A cancer policy can help offset what may become a sizable financial burden to someone with the disease.

• Provides a lump sum cash payout directly to the covered person when diagnosed with cancer
• Funds may be used for clinical trials, transportation, household expenses and more
• If premiums are faithfully paid, the policy benefits remain intact

Some costs incurred during a hospital stay or following an accident are not covered by standard health insurance. Hospital indemnity and accidental injury policies can ease an insured person’s financial responsibility.

• Both policy types cover medical services, treatments, and ambulance service (ground and air)
• Both normally do not have deductibles or networks that must be used to qualify for benefits
• Hospital indemnity insurance pays at a set daily rate while hospitalized
• Accident Insurance plans pay per covered injury

A critical illness policy supplements a standard health care policy by paying a lump sum benefit in the event of a covered illness such as a heart attack, stroke, kidney failure, Alzheimer’s disease, or cancer.

It can cover clinical trials, transportation expenses, mortgage payments, utilities and unexpected costs.

Policies include:

• Critical Illness
• Cancer and Intensive Care Unit (ICU)

Unlike Original Medicare, some Medicare Advantage plans offer dental, vision and hearing coverage.

The most common MA plans are HMOs, which facilitate the use of specified doctor and hospital networks in order to provide their members with minimal out of pocket costs.

• Primary care physicians frequently provide referrals to specialists
• Emergency services are covered outside of traditional service areas
• Referrals are required for out-of-network providers
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Also known as Medigap. Private health insurance to help pay for Medicare Part A and Part B expenses not covered by Medicare.

• Some plans require copays and deductibles
• Routine dental, vision and hearing benefits not included
• May choose doctors or hospitals accepting Medicare
• Referrals are not required. Plans are identical regardless of insurer
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This is optional, private insurance coverage for people who take medications.

• Some Medicare Advantage plans include prescription drug coverage
• Plan has a list of covered drugs, known as a formulary
• Drugs are segmented into tiers, each with its own pricing
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Also referred to as ordinary life insurance, this policy accrues cash value tax-deferred while it grows. Unlike term life insurance, it does not have an expiration date.

• Premium amount is traditionally higher than that of a term life policy
• Premium does not change during the policyholder’s lifetime
• Guaranteed payout of death benefits, as long as premiums are faithfully paid

Also referred to as burial insurance, Final Expense is a whole life insurance policy providing a lump sum death benefit in the event of the policyholder’s death.

• Designed to pay death benefit proceeds very quickly
• May be used for burial, medical costs, cremation and travel expenses
• Funds can help pay off debt such as a mortgage or credit card balances

This policy has both whole life and savings elements. It eases the financial burden on families by serving as a financial safety net.

• Insurance portion must be covered in the premium
• The cash value component can be used to pay the premium
• Replaces the income earned by the policyholder and allows loved ones to maintain their standard of living

The most affordable form of life insurance, term life provides coverage for a specific period of time.

• Premium amount does not change during the policyholder’s lifetime
• Pays the beneficiary if the policyholder dies unexpectedly during the term
• Does not build cash value or pay a death benefit once the policy term has expired

This coverage can include medical or non-medical assistance. It offers a range of services and support features to help people as they get older with their current (or future) personal needs challenges.

• LTC plans provide a broad range of care
• Coverage approval more likely if you buy a policy while young and healthy
• Assistance with daily activities such as eating, dressing and bathing
• May include assisted living and skilled nursing facilities as well as home health and community organization care

A Short-Term Care policy generally provides benefits for one year, and has lower premiums than Long-Term Care insurance does.

• Underwriting criteria are not as strict as with Long-Term Care
• An alternative for people who cannot qualify for Long-Term Care or afford the premiums
• STC guaranteed to be renewable if the premiums are faithfully paid