What is Supplemental Life Insurance?
Answer:
When you are offered insurance through an employer,


you’ll often be offered supplemental life insurance. This is an option that you can exercise in order to increase your coverage.

For example, you employer may offer a standard life insurance policy that provides a set amount of life insurance, perhaps one year’s worth of pay. Depending on your employer, this life insurance may be completely paid for by the employer. If you want more coverage, the employer may have several supplemental life insurance options that you can add to your plan. However, in most cases, these are paid for by you – not the employer. Employers offer the supplemental insurance as a courtesy so that you can increase your coverage if you so desire.

In addition to increasing the life insurance on yourself, supplemental life insurance plans are also usually available to provide coverage for your spouse or dependents. The employer usually doesn’t pay for life insurance for your family thus the supplemental offering. This allows you to extend coverage to include your family conveniently and cost-effectively.
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