LifeSecure Insurance Company today announced the initial launch of its enhanced hospital indemnity insurance. Hospital Recovery Insurance with Observation Coverage includes expanded product features that provide additional protection from unexpected out-of-pocket costs following a hospital stay. The product is now available in the individual and worksite markets in 20 states with additional states soon to follow.

“Even a short hospital stay can have a steep impact on a family’s finances,” said Kevin Stutler, LifeSecure president and CEO. “That’s why we designed a more versatile product that can provide families with the support they need through different stages of hospital care, as well as give agents stronger tools to protect more of their clients. This is another example of how LifeSecure won’t hesitate to implement new and innovative ideas that better serve our customers.”

LifeSecure’s Hospital Recovery Insurance with Observation Coverage helps protect families from unexpected expenses that often accompany a hospital stay. With no coordination of benefits and 24/7 coverage, policyholders can use Hospital Recovery benefits to help offset anything from deductibles, prescription medication and other medical costs to daily living expenses, lost wages, and transportation.

Key plan features include:

  • Coverage for an inpatient stay and/or care in an observation unit.
  • A daily cash benefit paid directly to the policyholder following a qualified hospital stay.
  • Emergency Room and Ambulance Benefit Rider for additional protection against other unexpected expenses.
  • Additional riders for diagnostic exams and rehabilitation facilities.
  • Guaranteed renewable coverage for life.
  • Guaranteed issue opportunities for both individual and worksite coverage.

Hospital Recovery Insurance with Observation Coverage is now available in the following states: Alabama, Alaska, Arkansas, Georgia, Illinois, Iowa, Kansas, Louisiana, Michigan, Mississippi, Montana, Nevada, New Mexico, North Dakota, Oklahoma, Pennsylvania, South Dakota, Texas, Wisconsin, and Wyoming.