Supplemental Insurance

What is known as “Primary Insurance” provides coverage for people in providing compensation for basic needs such as healthcare. Other examples are missed income Insurance that gives the policyholder potential financial support against loss due to various issues that can lead to missed income. Many purchase life insurance so their loved ones will have financial support in the event of their death. Others may elect to buy disability insurance, to ensure their income is replaced should they no longer be able to work. These types of insurance, however, may not meet individuals’ total needs. To help alleviate this gap, some purchase what is known as “supplemental insurance.”
Supplemental insurance fills in the holes in an existing primary insurance policy. For instance, a person with health insurance may find she is unable to have enough resources to cover all of her needs. Maybe she is still paying hundreds of dollars out of pocket for prescription drugs or for longer stays in the hospital or for doctor’s visits not normally covered. Supplemental insurance is what can help to pay for the costs not covered by an existing health insurance policy.
This kind of insurance is generally offered in conjunction with one’s normal policy coverage. The policyholder always has an option of buying supplemental insurance to feel more fully protected. This supplemental policy is generally purchased from the same company that provided the primary policy.
Many people like the increased sense of security and peace of mind in having a more comprehensive insurance coverage that a supplemental policy can give. Contact your insurance representative for more information.