AFLAC- short term disability, accident, and sickness insurance plans

[JEDI]

short term disablilty: sidelined from work for a period of time due to injury

accident: pays you for seeing a doctor for any injury, including non-work related like cutting a finger, or spraining an ankle. pays you $60 for getting an annual physical.

sickness: hospitalization. also pays you when u get a cat scan or mri.


Aflac came to my company today. they pay you directly on top of whatever you are getting from company insurance or worker's comp.

it's sounds alot like legal double dipping.

rates are locked in for life, and benefits will never decrease. and they cant drop you.

corporate rates for single person (pretax assuming 30% tax rate):
1) accident + sickness: $441/yr (36.75/month)
2) short term disability, accident + sickness: $704.75/yr ($58.73/month)

i get an annual physical anyway, so i'm basically paying $381 for the 1st plan, $644.75 for the 2nd.

right now i dont see much benefit since i'm young and healthy. but as i grow older, i can see myself hospitalized due to illness. plus i probably can go see a doctor for every cut, bruise, and scraped knee. (Aflac payments > health insurance copay for seeing a doc.)

so is it worth it?

And is there a catch? i mean if it's this low price for life, how can aflac stay in business when i'm 60+ and have heart attacks, strokes, and other medical conditions?

 

[pstylesss]

They came to my work and I thought about getting on their vision plan and their life insurance. I opted not to yet since I'm only 19. I'll hop on the life insurance right before the age rate hike... not sure when it is though.

It was not worth it for me at the time.

 

[SacrosanctFiend]

We have company-paid STD/LTD and offer AFLAC. Just because you are young and healthy, doesn't mean you won't need it. Case and point: 19-year-old laminator was T-boned on his way to work yesterday and is going to be out of work for the next 2 months. He gets STD + AFLAC; meaning, instead of getting 60% of his weekly wage, he is going to exceed it.

It really depends on how your company's structure is set up. Salaried employees here get 100% of salary STD and our health insurance pays 100% of costs for $80/month (no deductible or max out of pocket), so we don't really need AFLAC. Our hourly employees only get 60% of weekly wage, so it could be beneficial to them.

 

[Old Hippie]

My wife's employer offers AFLAC.

It's a great add-on disability insurance.

I've seen a few of my friends who would not have made it financially without it.

 

[g8wayrebel]

I have it and had to use it for a surgery last year.
I was out for 2 months and it saved my butt. I'm that guy^^ , I'd have been behind on everything about the middle of the second month otherwise!!

I have several policies including medical , low disability and cancer.
I've had a couple small injuries at work as well which they covered for Dr visits and therapy plus a set amount for the injury.
I'd never be without it.