Hospital Indemnity
Principal® hospital indemnity insurance helps supplement core benefits—like medical and disability coverage—to help employees handle expenses related to hospitalization and treatment due to a sickness or injury. Our coverage provides flexible design options to allow employers to tailor the benefits to employees’ needs. Some examples of covered benefits include daily hospital confinement, inpatient surgery, and therapy. And it pays a lump-sum cash benefit employees can use any way they choose.
States are in the process of being approved to offer hospital indemnity. See current state approvals. (GP63006) (PDF)
• Pays a lump-sum cash benefit when an insured employee or family member requires hospitalization or treatment related to a sickness or injury
• Benefit is paid regardless of any other insurance coverage or actual expenses incurred
• Proof of good health is never required
• Employees can buy coverage for their spouse and/or kids
• Choice of Health Savings Account (HSA) or non-HSA designs1
• A health screening/wellness benefit is available to encourage preventive care (not available in all states)
• Portable coverage employees can take with them if they leave their employer (not available in all states)
1 Principal® does not make available products related to Health Savings Accounts.
Participation requirements for hospital indemnity (must be sold with another coverage):
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Employer-paid |
Voluntary |
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Key materials listed below.
Product Details (GP63060)
Product overview and features for all states except Arizona and New Mexico.
Health Screening Benefit (GP62824)
Not approved for use in Arizona, New Mexico, or New York.
• Contact your local sales representative.
Important Information
For financial professional use only. Not intended for use with consumers or the public. HOSPITAL INDEMNITY INSURANCE PROVIDES LIMITED BENEFITS. This summary is not a complete statement of the rights, benefits, limitations, and exclusions of the coverage. Not available in all states.
2714484-022023