Supplemental Associate Life Insurance: What You Need To Know

Supplemental life insurance is an additional life insurance policy that can be purchased through your employer or another organisation. It is also known as voluntary life insurance, and it is negotiated on a group level. This means that the employer or association decides how much free coverage employees or members get, and how much more they can buy. This is usually in multiples of salary.

Supplemental life insurance is extra coverage you can buy at work

Supplemental life insurance is extra coverage that you can buy at work or through an organisation. It is sometimes called voluntary life insurance. It can cost less than individual insurance, and you may not have to answer health questions or take a medical exam. However, you could lose your coverage if you leave your job.

Supplemental life insurance is negotiated on a group level, and the employer or association decides how much free coverage employees or members get, and how much more they can buy. The amounts are usually in multiples of salary.

Supplemental life insurance provides income to your survivors in case you pass away. It could cover burial costs, help your spouse pay off the mortgage, or pay for your child's college education. You can have multiple life insurance policies as long as you qualify for each one.

According to the U.S. Bureau of Labor Statistics, a person employed with a company in 2024 has been with their employer for an average of only 3.9 years. Whether you are let go or you leave your job voluntarily, the supplementary life insurance that you have may terminate.

It can cost less than individual insurance

Supplemental life insurance is additional coverage that you can purchase through your job or another organisation. It is sometimes called voluntary life insurance.

Supplemental life insurance is typically cheaper than individual insurance because it is negotiated on a group level. The employer or association decides how much free coverage employees or members get, and how much more they can buy. The amounts are usually in multiples of salary.

You may not have to take a medical exam or answer health questions to get supplemental life insurance. However, you could lose your coverage if you leave your job.

Supplemental life insurance can provide your family with enough money to cover your final expenses when you die. This could include burial costs, helping your spouse pay off the mortgage, or paying for your child's college education.

You may not have to answer health questions

Supplemental life insurance is additional coverage that you can purchase through your job or another organisation. It can cost less than individual insurance, and you may not have to answer health questions or take a medical exam. This is because it's negotiated on a group level.

Supplemental life insurance is sometimes called voluntary life insurance, and it's an important source of protection for many. In fact, a quarter of all life insurance owners indicate that they exclusively have workplace coverage.

Supplemental life insurance can provide income to your survivors in the event of your death. It could cover burial costs, help your spouse pay off the mortgage, or pay for your child's college education.

The amount of free coverage and how much more you can buy is decided by your employer or association. This is usually in multiples of your salary. However, you could lose your coverage if you leave your job.

You could lose your coverage if you leave your job

Supplemental life insurance is extra coverage that you can purchase through your job or another organisation. It is sometimes called voluntary life insurance, and it is negotiated on a group level. This means that the employer or association decides how much free coverage employees or members get, and how much more they can buy. The amounts are usually in multiples of salary.

Supplemental life insurance is typically cheaper than individual insurance, and you may not have to answer health questions or take a medical exam. However, this type of insurance is not always permanent. You could lose your coverage if you leave your job. Unlike employer health insurance, which you can pay to extend through a program called COBRA, supplemental life insurance does not provide this option.

This means that if you leave your job, your supplemental life insurance coverage may terminate. This could leave you and your family without the financial protection that life insurance provides. Life insurance provides income to your survivors in the event of your death, and it can help cover burial costs, pay off a mortgage, or fund a child's college education.

It is important to consider the potential loss of coverage when deciding whether to purchase supplemental life insurance. While it can be a valuable benefit, it may not be a long-term solution for your financial planning.

It can provide your family with enough money to cover your final expenses when you die

Supplemental life insurance is a type of additional coverage that you can purchase through your job or another organisation. It is sometimes called voluntary life insurance. It is negotiated on a group level, so it usually costs less than individual insurance. You may not have to answer health questions or take a medical exam to qualify. However, you could lose your coverage if you leave your job.

Supplemental life insurance can provide your family with enough money to cover your final expenses when you die. This could include burial costs, which can be expensive. It can also help your spouse pay off the mortgage or pay for your child's college education.

The amount of coverage you get is decided by your employer or association. It is usually in multiples of your salary. The benefit associated with these policies can be low, typically between $5,000 and $10,000.

Supplemental life insurance is a way to bridge the gap for those who need more coverage. According to the Life Insurance Research and Marketing Association (LIMRA), a quarter of all life insurance owners indicate that they exclusively have workplace coverage. However, a record proportion of American adults (42%) say that they need more coverage.

Frequently asked questions