Can Insurance Companies Adapt to Today's Fast-Paced Lifestyle?

(NewsUSA) - There is no doubt that life today moves fast. The rise of digital technologies has given people the ability to talk on the phone, watch their children's soccer games and send work emails all at once. Consumers have come to expect these same conveniences afforded by the Internet age from all the businesses and services they use -- except, oftentimes, from their insurance companies. Health insurance companies process 98 percent of claims within 30 days; but for today's fast-paced lifestyle, 30 days can feel like a lifetime, especially for those struggling to pay medical expenses.

With almost two-thirds of American households earning less money today than they did in 2002, just being insured is no longer enough. What's really important is how fast and hassle-free your insurance carrier can process and pay claims because the speed of claims payment can be vital to both physical and financial recovery.

According to a recent survey, 66 percent of workers would not be able to adjust to the large financial costs associated with a serious injury or illness, and 49 percent have less than $1,000 available to pay out-of-pocket medical expenses. Not to mention, due to rising health care costs, employers are implementing several cost-saving measures that are putting even more financial pressure on workers, such as:

* Increasing employees' health care insurance copayments.

* Increasing employees' share of premium.

* Implementing high-deductible health plans with health savings accounts.

This means waiting up to a month for an insurance payment may not be an option for many people. However, with improved technology and an understanding of today's consumers' needs, some insurance companies have been working hard to implement fast service to customers. For example, Aflac provides policies whose claims are regularly processed, approved and paid in just one day -- a speed that's almost unheard of in the insurance industry.

In the past, an insurance provider that paid claims fast was a luxury, but today it is a necessity. It has never been more important to have money in hand quickly when dealing with a serious illness or injury, so make sure your insurance company can move at your fast-paced speed.

To learn more about Aflac's One Day Pay promise, visit aflac.com/onedaypay.