Are AFLAC policies a ripoff?

Question

My company offers AFLAC as an "employee paid" benefit. I find their package confusing and hard to figure out. My first reaction is that they are very expensive for the limited coverages offered. Does anyone have an experience or opinion?

Answer 1

I happen to live where they are based, and from the experiences that I have had with them they have been worth it. Please understand that they are a supplemental insurance, meaning that they pay what your "other insurance policy" doesn't cover. If there is something that you don't understand about the policy, call the toll free number and they will be glad to answer any questions you have. I personally know the CEO of the company, and several of my friends, and relatives work there. They have been in business for as long as I can remember, and have billions in assets. They do offer several different policies, so choose only what you think you would need. Also you can ask the sales rep all of the questions that you might have, if they can't answer, then call the toll free number. Hope this helps!!

Answer 2

I find that I can be less expensive than Aflac policies. This is the most common issue that I hear about. They do serve a need and provide coverage, however it is always a good idea to shop around and I know you can get better.

Answer 3

I suggest you talk to a financial professional - someone who can give you a comprehensive look at your overall finances. If you have lots of money and can afford to pay for things that are covered under the AFLAC insurance policy, then the policy is not worth much to you. No one on this website can answer your question unless you want to post you financial information here too (income, savings etc)

Answer 4

This is a nich policy. Like accident coverage that was sold years ago for people who took train or air traavel. It insured people if they were in an accident while on the carrrier. Please read the limitiations on the policy and note the time limits and type of coverage limits. Some people call them supplemental coverage. Can be pricy depending on coverage requested.

Answer 5

My wife has AFLAC supplemental coverage through her employer. We have no complaints. I would strongly suggest that you read all material provided to them, seek to obtain a Certificate of Benefits, and please ask them every question you can think of. Supplemental benefit coverage is similiar to insurance - it's for the rare disasters that it will pay off.

Answer 6

I think it is a great benefit. This is a supplemental insurance so keep that in mind. If you get hurt though, it does pay out.