Florence Morning News Newspaper Archives Nov 10 1957, Page 37

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Florence Morning News (Newspaper) - November 10, 1957, Florence, South CarolinaIllness can be a major you prepare in Advance for ample Protection. To american families. The most common Are those which pay Hospital surgical or medical Bills or a combination of the three. The fourth Type is designed to meet the expenses of major illness and the fifth protects a person against loss of income due to sick Ness or Accident what about Cousin Fred had he been insured what would his benefits have been and what would he have paid yearly to carry any or All of these protective policies let s suppose he had had a hospitalization policy. This covers room Board operating room drugs oxygen and related expenses up to certain limits. Hospital fact any of these five types of available either on an individual or a group basis. A group policy covers All the employees of a company or All members of a Union or other organization. The larger the group of course the smaller the Cost to each individual and the greater the benefits offered. Cousin Fred works for a company with 500" employees. Although hospitalization benefits vary by locality Fred would have received about source health insurance Council because Fred s office has group Protection with a Large company the policy would have Cost him annually. The benefits of this plan which would Cost yearly on an individual basis would have included a Day for 90 Days hospitalization plus in miscellaneous expenses. Fred required surgery too. A policy which would have protected him and his family against surgical Bills would have Cost in a group basis or on an individual basis. Having this policy would have reduced Fred s surgeon s Bill moreover a medical expense policy which covers doctors specialists office visits Etc would have whittled Down this part of the Bill even More. 115 million americans have some sort of Hospital coverage 101 million have surgical Protection 64 million have medical expense coverage. This is All to the Good yet specific policies have specific shortcomings. For example what if Fred carried Hospital insurance but took ill at Home and was confined there what if he had coverage for a surgeon s Bill but needed Only the services of a physician what if his illness dragged on Long beyond the time limits of his Hospital policy then of course Fred would be out of Luck and would have to pay out of pocket. Unfortunately few of us can Ever protect ourselves with specific policies against All the possibilities which might occur. Realizing these gaps particularly where there is severe insurance companies now offer a More extensive coverage called major medical expense or catastrophe coverage insurance. These policies take effect Only after the first of medical expenses. In Short they Are not designed to pay Small Bills but rather the huge sums of Money which major illness demands. Some catastrophe policies give coverage. Most Are written for some require that you pay a percentage of the total others do not. All Are designed to cover every phase of illness doctor surgeon Hospital drugs treatments for Fred could have purchased an individual catastrophe policy for his family for he could have bought the same coverage through his office group. Either Way he would have had to pay the first expense and 25 percent of the total after that but the insurance would have covered All the rest of his Bills up to in Short Fred s illness would have Cost him instead of finally there is a form of Protection called Dis ability insurance which pays not for specific expenses but rather for loss of income due to sickness or Accident or both. If Fred had figured that his family could live on a week should he be disabled he could have bought a group policy for or an individual policy for which would have provided him with this weekly amount. Had he been injured the payment would have begun immediately and continued for 12 months had he been disabled by illness payments would have started on the eighth Day and continued for six months. There Are Many variations of this Type of insurance but basically the purpose is always the same to provide income for the family when the wage earner can t work. Fred gambled on his health. Illness he figured was something that happened to the other fellow. As a result he neither practice prevention nor protected himself with insurance. Over a period of 10 years he figured that the group plans at his office for hospitalization surgery major medical expense and disability would have Cost him More than what he did t figure what the statistically fortunate usually forget is that in one month he ran up Bills for twice that amount certainly there Are plenty of people who would like health insurance but who for one reason or another can t get it. They can t afford to be sick but for Fred for most of us financial worries about illness can be greatly reduced by planning by prevention and by insurance Protection. Family weekly november 10, 1957

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