What Is Specialty or Supplemental Insurance (and Do You Need It?)

Most people are familiar with the more common types of insurance, like medical, dental and vision insurance. But have you ever heard of specialty insurance? Specialty coverage (also called ancillary or supplemental coverage) can be thought of as add-ons that make your traditional insurance plan more robust and comprehensive. Purchasing specialty insurance is a smart addition to your health care coverage plan.

Recent updates now allow Blue Cross Blue Shield of Michigan to offer a full portfolio of these supplemental insurance products, through marketing arrangements with LifeSecure, Dearborn National and Asurrity insurance companies, including critical illness, simplified disability, term life, hospital recovery, accident and long-term care. While your health care covers a majority of expenses to keep you and your employees healthy, supplemental insurance accounts for the unexpected and unplanned occurrences.

Who might need this type of coverage? Anyone can benefit from them, and deciding if they are right for you requires you to take a look at your needs and risks, do some research and talk to your agent. Visit Blue Cross Blue Shield of Michigan’s specialty products page which includes life, disability, accident, critical illness, hospital recovery and long-term care to learn more. And for more insight on picking the right insurance plan for you, check out these blogs from this site as well as A Healthier Michigan:

Photo credit: Rashod Taylor

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