When I am discussing health insurance with potential clients one of the most common objections to continuing the conversation is, “I already have coverage”. A lot of people use coverages such as a Marketplace plan or a Short Term policy as their sole line of health insurance. These traditional style policies are excellent primary coverages but they leave clients open to significant liabilities. These plans can carry high deductibles and even higher maximum out of pocket (MOOP) costs. The average American family doesn’t have $10,000 to $20,000 laying around to cover the extreme costs of these plans for when that “worst day” (major car accident, heart attack, stroke, etc) occurs. Secondary or auxiliary plans such as a Critical Illness or an Accident policy are inexpensive options designed to cover these high out of pocket costs. If a Major Medical plan has a MOOP of $20,000, then pairing that with a lump sum $20,000 Critical Illness and $20,000 Accident plan insures that a client won’t be faced with significant medical debt. As health insurance brokers our jobs are more involved than simply getting an easy sale and moving on. We have to make sure to cover all liabilities that our clients may incur.
