A gap Insurance policy will help to offset the cost of the deductible in the case of a hospitalization. For example, if you have a $3,000 deductible, and a $3,000 gap policy - you would not have any out of pocket cost. If you did not have a gap policy, you would be responsible to pay the entire $3,000. The main reason an employer offers a gap policy is so that they can raise the deductible and therefore lower monthly premiums, without leaving the employee to fend for themselves with the new loss of benefit.
An indemnity policy typically pays directly to the employee, and there is usually a list of procedures and situations identified in the policy that has an associated pay out with it. For example, one indemnity policy may pay $3,000 to the employee in the event of a hospitalization, regardless of the deductible. If that employee did not have a deductible at all, they would still receive a check of $3,000 from the indemnity insurance company and spend it on whatever they deem appropriate. The main difference between a gap and indemnity policy is that the gap policy only covers the "gap" owed on the deductible and is paid directly to the health insurance carrier to offset that cost; the indemnity policy does not take a deductible into consideration and the amount is paid directly to the patient. If you would like to review your benefits and see if we can maximize your benefits while minimizing your premiums, it's time to make a move. #MoveToFLiP

Meet Sam Tadlock

An entrepreneur since a very young age, coupled with quality work ethics have propelled me to leadership and management roles in every organization I have been a part of, stemming from Volunteer organizations, networking groups, Church organizations, to my professional Career. Over time these experiences have allowed high development in skills needed for true leadership, including goal setting, planning, system development, training, and motivation. A motto of "Leading from the front"​ has also translated into excellent business practices, helping my clients solve their problems most important to them, in the way that is most efficient for them, even if those solutions don't involve any financial benefit to me or my organization.

My passion in life is teaching other to obtain their true potential, no matter their current circumstances. Empowering Economic Freedom!

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Jun 08, 2017 @ 8:42pm


Should I “buy term insurance and invest the difference”?

The best answer to this age old question is…. “maybe”. I hear these type of phrases often, but the fact of the matter is that statement is too generic for…

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