Colorado Marine Officer

. Major Medical Expense
This type of policy is usually effective in covering serious illness or injury where costs are high. Expenses you incur both in and out of the hospital, including drugs and doctors’ visits, usually are covered. Most major medical plans contain a deductible — the amount you pay before the insurance company begins paying benefits. After your expenses exceed the deductible amount, benefits are paid as a percentage of actual expenses, often 80 percent.

· Disability Income Protection
This coverage provides for weekly or monthly benefit payments while you are disabled after a covered injury or sickness. The disability payment is usually a set dollar amount not to exceed a certain percentage of your income. Usually the most you can qualify for is approximately 60 percent of your gross earnings.
Be aware that some disability income policies contain an elimination period, measured from the start of each disability.
During that time, no benefits are paid. Elimination periods vary, generally from 30 days to six months, depending on the policy. A longer elimination period may provide lower premium payments.  Also, many disability income policies reduce benefits based on other income to which you may be entitled, such as sick leave pay, disability retirement income, and Social Security disability benefits.

· Accident Only Coverage
This policy covers losses due to an accident. Benefits vary greatly. Coverage may be provided for death, loss of limb or
sight, disability, or hospital and medical care.

· Specified Disease or Specified Accident
Some policies cover a specific disease, such as cancer, or a specific kind of accident, such as while traveling away from home. Benefits are not paid for any other sickness or injury. The benefits may be based on your actual medical xpenses
or payable as a lump sum indemnity.

· Medicare Supplement
The federal Medicare program pays most medical expenses for people 65 or older, or for individuals under 65 receiving Social Security disability benefits. However, Medicare does not pay all expenses. As a result, you may consider purchasing a Medicare Supplement policy that helps pay for certain expenses, including deductibles not covered by Medicare.