Indemnity Insurance
Indemnity Insurance 101
What is Indemnity Insurance?
Indemnity insurance pays you a set cash benefit when a covered event happens, regardless of your actual medical bill. You can use the money however you need—medical costs, travel, household bills, or lost income. It’s often used to help cover gaps in health or Medicare coverage.
Hospital Insurance
Pays you a cash benefit for each day you’re hospitalized or receive certain treatments.
Helps with out-of-pocket costs like deductibles, copays, or even non-medical expenses (rent, groceries).
Accident Insurance
Provides a lump sum or per-treatment cash benefit if you’re injured in an accident.
Covers things like ER visits, broken bones, ambulance rides, or physical therapy.
Cancer or Critical Illness Insurance
Pays a lump sum or ongoing benefit if you’re diagnosed with cancer or other serious conditions.
Helps with treatment costs, travel to specialists, or income replacement while recovering.
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Frequently Asked Questions
How does indemnity insurance work?
Indemnity insurance pays you a fixed cash amount when a covered event happens—like a hospital stay, accident, or cancer diagnosis. The money goes directly to you, not the hospital.
Do I have to use the money for medical bills?
No. You can use the benefit however you need—whether it’s for medical costs, mortgage payments, travel, or everyday expenses.
Can I have indemnity insurance along with my regular health or Medicare plan?
Yes. Indemnity insurance is designed to work alongside your main health or Medicare coverage to help cover gaps and out-of-pocket costs.
Is there a waiting period before coverage starts?
It depends on the type of policy. Accident coverage often starts immediately, while cancer or critical illness plans may have a short waiting period.
Are benefits pain more than once?
Yes. Hospital indemnity and accident policies may pay multiple times for covered events, while cancer or critical illness policies can pay either a lump sum or recurring benefits depending on the plan.
Do I need to submit medical bills to get paid?
Usually, no. You just submit proof of the covered event (like hospital admission paperwork or accident report), and the insurer pays you the benefit.
Do I have to use the money for medical bills?
Yes, most indemnity policies have age limits for enrollment.
Hospital indemnity: often available up to age 85.
Accident indemnity: usually issued up to age 64–70.
Cancer/critical illness indemnity: typically available up to age 70–85 depending on the carrier.
Once enrolled, most plans let you keep coverage for life as long as premiums are paid.
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We do not offer every plan available in your area. Currently we represent 6 organizations which offer 54 plans in your area.
Please contact , 1-800 MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options."
Dominic Colonero is not connected to the Federal Medicare Program. This is a solicitation for insurance.