You need life insurance if somebody will suffer financially when you die.Unknown
Supplemental insurance is extra or additional insurance that you can purchase to help you pay for services and out-of-pocket expenses that your regular major medical health insurance doesn’t cover.
Supplemental policies may improve the medical coverage you already have. They may cover a different set of services, such as dental care.
Whole life insurance guarantees payment of a death benefit to beneficiaries in exchange for level, regularly-due premium payments. The policy includes a savings portion, called the “cash value,” alongside the death benefit. In the savings component, interest may accumulate on a tax-deferred basis. Growing cash value is an essential component of whole life insurance.
Supplemental insurance refers to an insurance policy that supplements your primary health insurance coverage. Supplemental insurance includes a variety of policies that can be offered by employers or purchased on their own, including:
Whether you need this type of health plan depends on your risk factors. You should also think about the cost of the premiums, how much insurance you want to carry, and what you want to be insured for. You may decide that a dental plan is worth buying if you think that your children will need it to cover orthodontic care in the coming years.
You might think about a supplemental plan if you know that you couldn’t afford the costs of long-term care, or the loss of income if you were diagnosed with something like cancer. Long-term care or critical illness plans may be worth thinking about in these cases.
About Supplemental Insurance