Hospital & Doctor insurance, like Health ProtectorGuard underwritten by Golden Rule Insurance Company, is a type of coverage called fixed indemnity insurance.F10 It’s a funny-sounding name for a common type of insurance, one that has been around for decades.
What is indemnity insurance? A fixed indemnity plan pays a set benefit amount for specific, covered medical services regardless of other types of insurance you might have.
With an indemnity health plan, if you face costs from one of the services covered, your plan pays the set benefit specifiedF11—it’s that simple.
Once you know what it is and understand the simple idea behind the complex name, the question remains: Why would you want it? A few reasons are worth considering.