Whats supplemental life insurance

What Is Supplemental Life Insurance?,

The good news is your company offers life insurance as part of an employee benefits package. The bad news is it may not be enough. You may need to look into supplemental life insurance to fill in the financial gaps. According to a 2010 study by LIMRA, a life insurance and financial services research and consulting association, 1 in 4 U.S. families relies on group life insurance to provide fiscal stability in case a wage earner dies. However, while employer-sponsored group plans are often free or substantially cheaper than individual life insurance policies, experts say group plans rarely provide enough coverage and could potentially leave you high and dry if you lose your job or move to a...

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Do You Need Supplemental Life Insurance? -

If you’re not familiar with the concept, supplemental life insurance is an additional life insurance coverage over and above your regular basic policy. Such policies are established to cover certain contingencies upon your death. They can be available to cover certain major expenses, and in doing so, they’ll preserve your basic life insurance to cover final expenses, lingering medical bills, and support for your family. What is supplemental life insurance? While general life insurance policies provide basic death benefits for your family, supplemental life insurance policies are aimed at handling specific expenses. In many cases (but not all) a supplemental life insurance policy may be set...

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What is Supplemental Life Insurance and is it Worth the Cost?

Is supplemental life insurance worth the cost? Maybe, but private insurance might be better. Imagine you just landed a great new job. You’re really pumped for the first day of work. You put on your brand new suit, pick up your swanky briefcase, and head to the office…only to sit in onboarding meetings for the whole first day. These meetings can be boring, and they can take forever if your new employer is large and onboards many employees at once. Typically, they go over things like employment expectations and requirements. But they’ll also usually walk you through the employer’s various benefits package options. Many times, you’re left with lots of choices at the end of onboarding,...

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