There are policies available through employers or individually to pay out benefits if a specified criterion is met, such as being admitted as an inpatient to a hospital or coming down with a particular disease.  In general, it is my opinion, that this insurance is not needed by everyone.

However, it is something to consider if your individual circumstances warrant extra protection.  For instance, if you have a very high deductible health plan and do not have the resources set aside to pay the deductible, this type of insurance can be appropriate.  Also, if a “dreaded disease” runs rampant in your immediate family, they can provide peace of mind as well as financial protection in the event of this disease is diagnosed in you.  These types of this insurance payout cash regardless of any other insurance policy in effect.

I can shop plans for you from the following insurance companies:

• American General
• Humana