When to Consider Getting Supplemental Life Insurance?
You've probably heard the term "supplemental life insurance" during your employer's open enrollment period or when you initially started a new job. In terms of what the phrases mean, it appears to be straightforward. However, it's a little more nuanced than that; supplemental life insurance refers to any type of additional life insurance policy. The term is most commonly used to describe supplemental life insurance coverage obtained as an optional insurance benefit at work (i.e., employee-paid). Employer benefits are a significant source of life insurance protection – and for many people, it is their only one. However, occasionally a company's coverage is insufficient, especially if the employee has a big family or significant financial obligations. Supplemental life insurance can fill up the gaps in coverage and give additional protection in specific scenarios. Consider the State of Your Health These Days Depending on the type of policy, term life insur