LifeSecure Insurance Company, Brighton, Mich., has announced the release of its new product offering, Hospital Recovery Insurance (HRI.) Covered individuals will receive a cash benefit payment based on the number of days they are hospitalized up to a preset limit.
According to the Agency for Healthcare Research and Quality, from 1993 to 2008, the average hospital length of stay decreased by about 20%, from 5.7 day to 4.6 days.
Like the company’s long-term care insurance, HRI coverage is based on a straightforward product design. Depending on the premium amount selected, individuals can receive a benefit amount of between $100 to $999 for each day of hospitalization, with a limit of up to 15 eligible days in a single calendar year. Benefits automatically renew at the beginning of a new calendar year. Upon receipt of a submitted claim form with proof of hospitalization, payment is made directly to the covered individual.
In keeping with the company’s product development strategy; the online sales support process has been simplified to include point-of-sale underwriting and online Budget -Point Pricing. To find out more about the new HRI product or to become an appointed agent with LifeSecure, call (810)220-8770.