These policies pay a lump sum benefit (amount differs by carrier) upon hospital admission and contain provisions to buy additional coverage for each day of hospitalization up to the amount and number of days of coverage offered. Additional riders can be added (varies by carrier) to cover items such as durable medical equipment, physician and surgeon benefits, RN at-home benefits, and daily skilled nursing facility benefits.
These policies are available through age 84. Availability and provisions vary by carrier and state of residence.
These plans are offered on a guaranteed (i.e. no health questions) issue basis to individuals for those between age 64 ½ and 65 ½ in some states.