What Is Supplemental Life Insurance?
Supplemental life insurance is the insurance that a person purchases on their own to add to a basic policy. Use supplemental life insurance to build onto a policy from work with help from a licensed insurance agent in this free video on life insurance.
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Hi, my name is Bill Rae. I'm a licensed life agent, and I've been in the business for well over twenty years. And the question is what is supplemental life insurance? Well, that's an interesting and a very good question. On the surface, supplemental life is exactly what it sounds like. For instance, let's say you work for a company, and the company provides you a basic life insurance policy of say, ten or fifteen thousand, which is pretty average today, okay? However, you have a very large family. You have three or four kids. Your youngest kid is two years old. All your kids, you know, want to go to college. Do ya' think ten or fifteen thousand is enough? probably not. Supplemental life insurance would be the life insurance that you purchase on your own or through the group policy that adds to the basic policy that you have. So, if you had ten or fifteen thousand at work, and you bought a policy for an additional two hundred thousand that two hundred thousand would be classified as supplemental life. I hope that's been helpful. My name is Bill Rae, and I'm helping you build wealth.