Aflac- is it worth it?

Discussion in 'Budget Board' started by Lisa_M, Sep 23, 2008.

  1. Lisa_M

    Lisa_M DIS Veteran

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    Today is sign up day for Aflac at work and I'm just wondering if the folks here think it's worth it. How are they with paying out claims? Easy to work with? Hard? I think it's pretty cheap because we are young, but I'm interested in knowing how some of you have fared with them before I sign up.
     
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  3. Sue122

    Sue122 Earning My Ears

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    We have a couple of policies through them. One policy that my husband bought costs us around $17/month and covers specific health issues (heart attach, stroke, coma, and a couple of others). Well, right before I turned 34, I had a couple of minor strokes. They were full-fledged strokes, not TIA, but I was able to recover completely.

    That AFLAC policy ended up paying my around $8,000. My out of pocket costs after my regular health insurance paid were $4,000, so I ended up with about $4,000 left over that I could use however I wanted.

    Most of their policies offer some sort of wellness benefit. One of ours will pay $60 per person on the policy that has any kind of doctor visit. Another policy pays $75 per person for any cancer screening (Pap, PSA test, mammogram).

    You can download the claim forms from their website, fax them in and they pay within a few weeks.

    AFLAC has definitely been worth the money for us!

    Sue
     
  4. ProudMommyof2

    ProudMommyof2 DIS Veteran

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    You are far more likely to have an illness or accident that leaves you unable to work for a period of time than you are to die. Everyone protects their family in the event of death with life insurance but ignores the much more likely catastrophic illness.

    I sit on the HR committee for my company and pushed hard for AFLAC!
     
  5. cndij

    cndij Mouseketeer

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    If claim processing time is a concern, I can vouch for them being the best in the industry. I have faxed in claims (from NC) on a Friday after 4 PM, and gotten a check in the mail by the following Tuesday (comes out of Columbus GA). I have never seen anything to beat it. Also we have a cancer policy, that when my husband was diagnosed 4 years ago, paid out about $10,000 on top of whatever his medical insurance paid. It also pays us back for followup testing enough to more than cover the ongoing cost of the insurance.
     
  6. prettyprincessbelle

    prettyprincessbelle <font color=green>I'm just excited for the BBQ! Yu

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    I have 2 Aflac policies and I’m 21. I have the cancer one and the accident one. With both policies I pay about $40something each pay check (I get paid every 15th and 30th of the month). With the cancer policy I pay a little extra each pay check so if in 20 years I am not diagnosed with cancer I will get all my money back that I put into it and if I want I can start the policy over again. The cancer policy has the wellness benefit and I just got $20 back for getting a PAP.

    I’ve been really happy with it! HTH!
     
  7. Livi'sMom

    Livi'sMom Mouseketeer

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    I have a couple of their supplemental policies.... the hospital/intensive care and short term disability policies were VERY helpfull when I was hospitalized on bedrest and then gave birth to a 25 weeker. Every day of the 99 days she was in the NICU paid out, plus the time I spent in the ICU and in the hospital. And the time I spent off work. I didn't file until she was discharged. We received a check for more than $43,000.00 Considering that I was then off work for almost 4 years....became a SAHM... best money I ever spent!!! I have the accident and cancer policies too. The cancer policy has a wellness benefit that pays you for receiving an annual cancer screening... for each member of the family that you have covered.... and the accident policy has come in handy a few times!
     
  8. Lisa_M

    Lisa_M DIS Veteran

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    Wow, I'm glad to hear that you all like it so much. I looked up some reviews online and alot were less than favorable...so I wasn't sure about this. I'll definitely get some more information from the lady about it.

    Budget boarder's always know the good deals.
     
  9. Colinsmom

    Colinsmom DIS Veteran

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    Hospital indemnity, accident, short-term disability, cancer and other disease policies are huge, huge profit-makers for the companies. Sure, if you get a diagnosis, you can get a nice benefit. But why not just buy a lottery ticket with your premium instead of sending it to them? I work in insurance and have worked with these policies in the past; there's no way I could recommend in good conscience that anyone purchase them.

    You do, however, NEED a long-term disability policy if you do not already have adequate coverage at your workplace. Good health insurance, too, is essential, and for many people, life insurance (term only, please!!) is also essential. But I don't think that is what you are asking about here.
     
  10. puffkin

    puffkin DVC Owner- SSR & AKV

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    I am still debating it.

    We had our initial enrollment (just got Aflac at my firm) in June (effective 7/1) and then open enrollment going forward in November for 1/1 effective date. I decided to skip the initial enrollment because I couldn't decide.

    Check the exclusions before you decide. I thought it would be great for us until I realized my DH was excluded from most of the policies due to him being an insulin dependent Type 1 diabetic.
     
  11. Iott Family

    Iott Family DIS Veteran

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    My DH sales insurance and AFLAC is one of the company's he is licensed with so I might be a bit biased but we carry three policies with them and they are very efficient with claims, usually within 48 hours ofaxing we have a faxed back check/reply. They cover the everyday tragedies that dont kill us but leave us temporarily down and out and for a decent out of pocket expense. You are more likely to make a claim against your afalc policy than you are your term life. Its your money at work for you when you really need it.
     
  12. Lisa_M

    Lisa_M DIS Veteran

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    hmm...there is nothing in the brochure about those kind of exclusions, just exclusions for risky behavior and self inflicted injuries....

    This financial stuff is difficult for me because I don't really understand much of it. I guess I need a finances for dummies book...can anyone recommend one?

    The lady said I can sign up and cancel within 3 days, but I don't like that kind of stuff. I guess today is the only day I can sign up, so I will pass for now. I can always sign up next year.

    To the person who recommended LTD and life insurance. Those things are definitely on the "To Do" list. I think that may be a better place to start than Aflac.

    I'm still interested in hearing other opinions about Aflac, so next year I'm better prepared to make a decision. She told me it would be 20.75/pay period for accident coverage and 12.95/per pay period for cancer coverage. That's about $65/month. That seems a little high to me, but IDK.
     
  13. jennifer293

    jennifer293 <font color=green>SHHHHH , but we live in the stic

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    YES YES YES!!!! GET IT!!!!

    We got ours in July of last year and I was in an accident in August and they paid us out around 4K when we had only paid them one months premium of $48.00. The Aflac rep in our area was so helpful and answered emails within minutes. This is one thing I will not let my DH cancel!!!
     
  14. mamalle

    mamalle DIS Veteran

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    yes! Yes! I agree also. I just love the accidental.. I fell yesterday up in Indy and today went to the urgent care for xrays, etc.. I submitted my info and should have a check in 7 business days or less. they are really good about turnaround times on claims. so far this year I have had to use it 4 times between the kids and I.. I also carry the cancer policy.
    we pay $48 biweekly for the family for both policies..
     
  15. puffkin

    puffkin DVC Owner- SSR & AKV

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    Trust me I know. I ran all the numbers after the initial presentation and it seemed like a GREAT deal for my family. Then when I sat down with the guy to get my official quote he asked all the health questions and that is when I found out all the exclusions for diabetics. Now that my husband can't covered I am still debating about just doing myself, but I am one of those freakishly healthy people so I am not sure how much use I would get and if would just be better for me to invest my money elsewhere.
     
  16. Lisa_M

    Lisa_M DIS Veteran

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    My husband has high triglycerides I wonder if that is in the fine print.

    We're from the same area, so "Hi neighbor!"
     
  17. mamalle

    mamalle DIS Veteran

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    Im pretty darn healthy too along with the kids but accidents happen- we didnt use it at all last year and 4 times so far this year. That doesnt include or payments for well check up, cancer checks, etc.. its like any other insurance- its there when you need it and it really helps when you need it..;)
     
  18. KatRob

    KatRob Mouseketeer

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    I have the cancer insurance also and get back $50 when I have my mammograms under the wellness benefit. Did not realize they paid anything for the pap, I do that every year right after the mammo.
     
  19. SILLYANDI

    SILLYANDI DIS Veteran

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    As a mother of four rambunctious kids I would have to say we've got our monies worth!
    My DS was in the NICU for 93 days when he was born. AFLAC cut us a check for $350 a day for that entire time (just over $30,000!). Last month DD3 dislocated her thumb-They paid us $150 for the injury, $35 for the follow up Dr's visit. (our co-pay for the whole thing was $15). In Dec DD10 fell and cracked her head open-$350 for the stitches, $35 for follow up visit. I get $60 every year for having my annual pap. These are just a few examples. We probably have 3-5 claims a year in our family.It has been more than worth it to us.
     
  20. StephMK

    StephMK DIS Veteran

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    I don't usually buy "supplemental" type policy but did recently sign up for their cancer policy. Since we're a family of 5, we signed up for the $75 reimbursement. If we all get a screening each year, that plus the pre-tax savings makes the policy super cheap on an annual basis.

    After having several friends & family w/cancer over the last 2 years - 2 w/double masectomies (sp?), 1 friend's DH, FIL & friend's DD 2 yr battle (now doing great!), it seemed like a nice extra safety net to have. I am more than happy to pay that premium & never need it but I've seen all the expenses out of pocket that come up if it is needed.
     
  21. disneypartyof4

    disneypartyof4 Mouseketeer

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    Do you have to get this threw work or can anyone get it. My DH works for his uncle and he pays for DH insurance and I have to pay for my own. I wonder if I can just get aflac and drop my insurance? It would be alot cheaper. The DS's are on the blue chip program.
     

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