Supplemental Life Insurance
What is supplemental life insurance?
Supplemental life insurance is additional life insurance purchased to supplement employer-provided group life insurance. Supplemental life insurance can be purchased through an employer (voluntary group term) or individually. Individual supplemental life insurance is portable.
Key Points
- Supplemental life insurance: additional coverage beyond employer-provided group life
- Voluntary group term: purchased through employer at group rates
- Individual supplemental life insurance: portable
- Employer group life: typically 1-2x annual salary
- An independent agent can help you find supplemental life insurance