Supplemental Life Insurance Meaning. Supplemental benefits plans provide additional protection to that offered by primary insurance for health and other life events. As with basic coverage, it usually can be bought in the form of a multiple of your annual salary.
In many cases, these policies offer coverage in multiples of the employee’s annual salary. Dependent life insurance is often made available as part of a benefits plan through employers. Supplemental life insurance may also be purchased for the employee’s eligible spouse and/or children.
Some people obtain term life insurance courtesy of their employers.
Dependent life insurance is often made available as part of a benefits plan through employers. Supplemental insurance is not usually available on a term life policy because that type of coverage is already constrained within certain defined limits and conditions, but is more often taken. Conventional life insurance policies provide term life or lifetime coverage to policyholders, and ensure that the death benefit or the accumulated cash value is given to the policyholder. What it covers although a limit is placed on how high reimbursements can go, supplemental life insurance takes over when basic life insurance runs out.