What Are Ancillary Products
An ancillary product is a product that is acquired as a bonus or add-on purchase when buying another product. This type of product is often offered as a bonus instead of reducing prices or offering discounts to incentivize customers to purchase the main product. It can be given to the customer for free as a sales incentive or at a discounted price for purchasing the main product.
It can be given to the customer for free as a sales incentive or at a discounted price for purchasing the main product. This helps a business increase sales without offering discounts and increases revenues through upsells. Read More!
Ancillary Products Marketing
Ancillary products are a great way for companies to increase sales without sacrificing revenue through discounts or to increase revenues
upselling customers who have already committed to purchasing one of your goods and services.
Insurance policies are a natural fit as an ancillary product for various purchases since they can be bundled with a variety of different goods or services. In a pure insurance context, ancillary products are also sometimes used to describe coverages that are not part of the primary plan such as optional coverages. Examples of ancillary care products in the health insurance context include vision care, dental care, short-term medical, hearing care, etc. These are considered ancillary to the main health insurance coverage for accidents and sickness. Source: Read More
What Are Ancillary Products Examples
- Dental Insurance – Access affordable plans to cover costs associated with both wellness, diagnostic and treatment services
- Critical Illness – Protect you and your family from the unexpected cost of fighting life-threatening illnesses such as cancer, heart attack, stroke and more
- Accident Coverage – Offset the costs of emergency room visits, lost income, everyday living expenses, and more due to a covered accident or injury.
- Life Insurance – Replace lost income to help with expenses such as mortgage payments, college tuition or loans, burial expenses and more. <Source
These are just a few of the Ancillary products offered Woody’s Insurance, give us a call.
Ancillary Products In Hospitals
Ancillary care refers to the wide range of healthcare services provided to support the work of a primary physician. These services can be classified into three categories: diagnostic, therapeutic, and custodial. Diagnostic services include laboratory tests, radiology, genetic testing, diagnostic imaging, and more. Therapeutic services range from rehabilitation to physical and occupational therapy, as well as massage, chiropractic services, and speech therapy. Custodial services include everything from hospice care and long-term acute care to nursing facilities and urgent care.
Ancillary care is currently one of the fastest-growing sectors of healthcare, representing nearly 30 per cent of medical spending today. With today’s rising healthcare costs, ancillary providers are frequently a prudent and cost-saving alternative to outpatient hospital and physician services.
Ancillary Products For Cars
Insurance for cars work well for an ancillary product for various purchases since they can be bundled with a variety of different goods or services. Some examples of ancillary products in this category include warranties, free replacement on items if they break, or even guarantees of functionality or performance that would compensate the owner upon loss. However, primary car insurance is not considered ancillary in this discussion.
So, in conclusion in your search for Ancillary insurance products you will discover that they cover many different genres from cars, to any product, consumers need and want protection. And is a multi-faceted term going beyond Insurance and includes many other products.