Lexikam Senior Insurance
Senior Insurance Products
Senior insurance products, such as final expense insurance, Medicare Advantage plans, and Medicare Supplement insurance, are designed to address the unique healthcare and financial needs of older adults.Final expense insurance provides a small death benefit to cover funeral and other end-of-life expenses, easing the financial burden on loved ones.Medicare Advantage plans offer an alternative to original Medicare, combining hospital and medical coverage with additional benefits like dental and vision care, often at lower out-of-pocket costs.Medicare Supplement insurance (Medigap) helps cover out-of-pocket costs associated with original Medicare, such as deductibles and copayments, ensuring more comprehensive coverage.Together, these products help seniors manage healthcare costs and plan for financial stability in their later years.
Final Expense
Final expense insurance is a type of life insurance designed to cover the costs associated with a person's death, such as funeral expenses, medical bills, and other end-of-life costs. It typically offers a smaller death benefit compared to traditional life insurance policies and is often more accessible, with lower premiums and fewer health requirements. This insurance helps alleviate the financial burden on loved ones during a difficult time, ensuring that they can focus on grieving rather than worrying about expenses.
Medicare Advantage Products
Medicare Advantage products, also known as Medicare Part C, are private insurance plans that offer an alternative way to receive Medicare benefits. These plans combine coverage from both Medicare Part A (hospital insurance) and Part B (medical insurance) and often include additional benefits, such as dental, vision, and prescription drug coverage (Part D). Medicare Advantage plans may have different costs, networks, and coverage rules compared to original Medicare, and they are required to provide at least the same level of coverage as original Medicare. Many beneficiaries choose Medicare Advantage for the added benefits and potentially lower out-of-pocket costs.
Medicare Supplement
Medicare Supplement insurance, also known as Medigap, is a type of private insurance that helps cover some of the out-of-pocket costs not covered by original Medicare (Parts A and B). These costs can include deductibles, copayments, and coinsurance. Medigap plans are designed to fill the "gaps" in coverage, making healthcare more affordable for beneficiaries. They are standardized by the federal government, meaning the benefits are similar across plans, but premiums and specific offerings can vary by insurer. Medigap plans do not cover services like long-term care, vision, or dental care.