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Aflac Home Insurance Review

Medical coverage, which is often included in homeowners insurance policies helps homeowners to resolve small claims. If someone got injured on your property, the medical payments portion of your policy will reimburse their medical expenses. However, it doesn't pay for all or even most of your loss. Other than that, the type of damage the person has suffered in your home is not included in your coverage. In that case, you will pay for the expenses that aren't covered by the medical payments coverage on your home insurance policy. It can be a little costly for you, especially if the injury is bad. 


To avoid paying a big amount of money on medical bills, you can look for supplemental insurance policies that can cover the excess medical expenses, which are available in insurance companies like Aflac. They provide life and health insurance that can increase your medical payments coverage limit. Here's more information about them.

Aflac's Brief History


American Family Life Insurance Company or Aflac was founded in Columbus, Georgia in 1955. In 1958, they moved away from just offering basic life insurance and started to provide cancer policies. They became a major player in the voluntary benefits market when they narrowed their focus on workplace policies paid through payroll deductions in 1964. The vast majority of the company's policies were purchased this way since 2000.


Because of the Aflac duck that was introduced by the company in 2000, their brand recognition has jumped from 11% to 94% after 14 years. Making them one of the most popular life insurance providers in the country. 


Today, the company writes a variety of life insurance and supplemental health insurance policies, and still do the majority of their business using payroll deduction policies. They're offering products through employers as group plans.

 

The Truth


They focus mainly on supplement insurance, unlike most insurance companies. However, they also offer life insurance with stand-alone vision and dental coverage. It provides disability insurance to cover you against wage loss if you're temporarily unemployed because of a certain reason. It is only available through payroll deduction from your employer. 


The company sells life insurance only through employers and they don't provide policies for individuals. Their policies are only a sidekick to your health insurance, meaning its coverage isn't comprehensive -- it's just designed to cover and work alongside the gaps left behind by a typical insurance company. It can also be a sidekick to your home insurance, when you, your family members, or other people got injured inside your home and your home insurance medical coverage isn't enough to cover the medical bills.


For instance, when you file a claim against a typical insurance company, they payout the claims directly to the one who owes it, such as a doctor or the hospital. Yes, your standard home insurance company can cover a big portion of medical bills during your hospital stay; however, you might still have co-pays, deductibles, and other expenses, which the company like Aflac can cover.  


The Claim


Aflac claims that they have been the leading supplemental insurance provider for more than 60 years. They also claim to provide a fast claiming process through Aflac SmartClaim. 


Is their claim true? 


Sort of. Aflac is the most popular supplemental insurance company but many other companies offer the same products. AARP and Cigna offer the same supplemental insurance policies as Aflac, for example. Some leading auto and home insurance companies also offer supplemental coverage options for their customers. For instance, State Farm provides supplemental medical insurance that covers the added cost of hospital stays and Allstate  offers accident and disability, long-term care supplemental insurance, and critical illness. This means that they aren't the only one that offers these policies and that they might not be the leading supplemental insurance provider. 


The company offers three methods. You can download a claim form from the website and either email or fax it to the company. You can also file a claim online through their Aflac SmartClaim system. They promise to pay claims the following day through their system; however, they are getting one-star ratings from their customers about these smart claims. Customers say that the company drag out claims and are finding ways to get out of paying out claims. These complaints are a little concerning for a company that promises fast payout claims. Even though they still have a lot of positive reviews, the much higher number of negative feedback on their service is a little alarming. These mixed reviews about Aflac only mean that you should read your policy terms carefully before purchasing one. 


Aflac Products


Aflac provides supplemental insurance policies, which means they only offer financial support for those medical needs not covered by your health or home insurance plan. Here are their insurance products:


  • Accident Insurance - Designed to pay for expenses that are not covered under medical plans when you get into an accident. It also offers wellness benefits that will help to pay for preventative care. 
  • Life Insurance - They offer basic whole and term life insurance policies to provide some income for loved ones left behind. Only available as workplace payroll deduction benefits.
  • Cancer Insurance - Provides a range of cancer care coverage to assist with the expensive cost of treatments. 
  • Critical Illness Insurance - Coverage for medical expenses related to clinical illnesses that require expensive hospital stays and other hospital care. 
  • Hospital Coverage - Covers the various costs associated with hospital stays. 
  • Short-term Disability - Replaces a percentage of the policyholder's income when they are unable to work for a period of time. 
  • Dental Insurance - Covers both routine dental care, as well as crowns, root canals, and fillings.
  • Vision Insurance - Yearly exam and coverage for frames, contacts, lens, and others. 

Ratings


Aflac isn't included in the annual J.D. Power's U.S. Life Insurance Study, which means customer satisfaction ratings aren't available for them. This may be because the company only sells life insurance to adults through employers, not to individuals. 


A.M. Best, on the other hand, gave the company an A+ or Superior rating, which means their financial strength is strong enough to pay out claims. 


The Pros and Cons


To wrap it up, here are the advantages and disadvantages of Aflac Insurance. 

Pros

  • Reputable company

  • Offers cancer insurance and critical illness coverage

  • Aflac SmartClaim for convenience

Cons

  • Negative reviews about claims

  • Only for employers and adults

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