US-based Health Insurance Innovations (HII) has launched Principle Advantage, a guaranteed-issue limited benefit plan, with Companion Life Insurance to address specialty insurance markets.
The affordable fixed-benefit plan, which is an addition to the company's Limited Benefit selections, helps customers to save out-of-pocket medical expenses.
Under the plan, consumers can select one of four benefit levels to pay set amounts for doctor visits, surgery, lab work, anesthesia, ambulance, and hospital charges.
Consumers can hold the policy until the age of 65, while benefits will be renewed every year.
HII president and CEO Mike Kosloske said that the debut of Principle Advantage expands, enhances, and promotes the company's product portfolio to a broad market.
"Principle Advantage helps people pay for the medical services they need when they cannot afford or qualify for individual major medical insurance," Kosloske added.
