Is Supplemental Life Insurance Worth It. Supplemental health insurance is no longer the fallback or afterthought that it once was. Supplemental life insurance is additional life insurance you can buy through your employer.
For an individual with a large family, obtaining the right amount of whole life insurance may be prohibitively expensive. “while supplemental insurance products do not replace someone’s major medical health insurance coverage, they do offer an additional layer of financial protection which can really go a long way in helping people focus on their recovery and not (on) paying their bills,” says wendy herndon, second vice president of product launch and adoption at aflac. Is supplemental life insurance worth it?
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Supplemental insurance, for example, gives you a certain amount of coverage for your premium as designated in your policy. It’s designed to strengthen and beef up the existing group life insurance that you have in place, by giving you more when it comes to death benefit. If you’re young and healthy, a private policy will probably cost less for more coverage than you’d get through your employer. For most people who want more life insurance coverage, a separate term or whole life policy is the best option.
