Security experts have found an insurance policy with first class protection that can make it a ‘pretty risky’ investment, but the firm says it has secured it.
In a statement, New York-based InsureFirst has said the policy, called first class, provides first-class protection for “all insureds and non-affluent non-profit organizations”.
The policy is a combination of First Class and Preferred class protection, meaning it will cover you if you get hurt or killed in an accident, but also will cover the medical bills you’ll incur if you’re sick.
InsureFirst said the benefits range from $2,000 to $20,000.
But it added that this is based on a “very conservative estimate” of your income, and that the policy is only available to “low-income Americans”.
Insurance experts also caution that the coverage does not cover you against loss of earnings, so if you lose your job or if you need to move away to start a new one, you’re still covered.
Inspectors found that the insurance policy would cover the following:First class coverage for employees, self-employed individuals, contractors, and business owners.
The coverage is available for people aged 65 and older, and people in New York and New Jersey.
The policy was secured with First Class First Amendment protection, a federal law that allows insurance companies to make claims on the policies of the insureds who are “at least age 65”, InsureNow said.
It said the firm secured the policy by securing an “extraordinary level of trust from its clients and its employees”, and said it has worked with the insurers and the insurers’ insurers’ lawyers to secure a guarantee that it can provide protection.
“The protection will provide for catastrophic loss of income or loss of work, as well as for loss of medical care if your employer’s policies are breached, InsureNation said.”
If you are unable to obtain coverage, this coverage will cover your medical costs up to the amount of coverage you need.
“Insurance companies are increasingly turning to policies with first or second class protection to help them protect their customers, with insurers such as Blue Cross Blue Shield of Georgia (BBBGA) and UnitedHealthcare (UNH) now offering First Class policies to cover employees, their spouses and dependents.
The insurer’s spokeswoman, Kristy Fournier, said: “We’re working to secure the coverage to protect our customers.
“If you need the protection to make your life easier, we’re here to help.”BBBGa said it would offer First Class protection to its 2.6 million customers, and it’s working with its insurers to secure it.UNH said it will also offer First and Second Class protection, and was working with insurance companies on securing it.
It said it was working closely with its insurance brokers and the insurance companies’ lawyers on securing a guarantee it can guarantee First Class coverage.
“As we work to secure this protection for our clients, we also want to reassure our customers that we will protect them,” it said.
Insurers’ insurers are also working with InsureNext and the insurer’s lawyers to ensure they can secure the protection they need to protect their clients.
InsuranceNew York said it had secured First Class Protection for its 6 million policyholders.
“We’re pleased that Insure has secured this protection and will continue to work closely with our insurers to ensure that they can provide the protection that they need,” the insurer said.
Insurer claims to have secured the coverage for the insurer for First Class cover, so Insure is likely to be able to pay for it.
Insurers are also in the market for First and First Class insurance.