What is an insurance wellness benefit?
If you own certain insurance policies, like a critical illness or an accident policy, you may be eligible for a wellness benefit.
The term “wellness benefit” can be used in different ways, so it can be confusing when you see this term on an insurance policy, especially if your employer offers wellness benefits or has a wellness program. The wellness benefits your company offers could cover anything from wellness-related perks like reimbursement for gym memberships or a discount on your medical insurance if you’re a non-smoker.
An insurance wellness benefit is different from what your employer offers. If you’re eligible, you may be paid a lump sum when you receive a covered health screening test.
Cancer and Critical Illness Insurance Wellness Benefits
The diagnostic testing benefit for cancer policies and the health screening benefit for critical illness policies are available because routine screenings promote early detection and prevention. And, early detection of these major medical issues can greatly increase the chances for successful treatment.
For example, AF™ Limited Benefit Critical Illness Insurance offer benefits for health screenings like neuroimaging studies, echocardiograms, electrocardiograms, and more. AF™ Limited Benefit Individual/Group Cancer Insurance offers benefits for diagnostic testing including mammograms, prostate-specific antigen blood tests (PSA), colonoscopies, and more.
Accident Insurance Wellness Benefits
An accident policy like AF™ Limited Benefit Accident Only Insurance’s wellness benefit may include an annual benefit for a routine physical exam, including immunizations and preventive testing.
Wellness benefits for accident policies provide an incentive for you to have your annual health and wellness doctor visits, which often include routine physical exams and health screenings. While physical exams cannot prevent an accident, they can help you understand if you’re healthy enough to engage in certain physical activities.
All policies are different. Make sure to check your specific policy to see if you’re eligible for a wellness benefit and what tests are covered.
Did you know? American Fidelity’s accident, cancer, and critical illness insurance wellness benefits also offer quick claims processing. Learn more about AFQuickClaims®.
This blog is up to date as of June 2020 and has not been updated for changes in the law, administration or current events.