Is Supplemental Insurance Necessary?

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Many employers offer various benefits for employees, include life insurance and health insurance plans. When it comes to insurance coverage, do you need to look for supplemental coverage? Here are a few benefits you might find from adding to your employee benefits:

  • Not Enough Money: For health insurance, the deductible offered may be much too high, and you’d want to get supplemental insurance to help with that. For life insurance, it is recommended that you have life insurance for 10-15 times your annual income. This is especially important if you have dependents or debt to pay off. Many times a company will not supply a life insurance plan that great in value.
  • Options are Limited: While it’s great that your employer is offering health and life insurance, it is not usually a plan that is specific to you. The plan provided is typically basic and generalized. For health insurance, this could mean seeking extra insurance to cover high co-payments for specialty doctors that you know you have to visit regularly.
  • Insurance Dependent on the Company: Your insurance plan will only be active for as long as your company keeps it as part of your benefits. At any time, they can decide to cut insurance or switch healthcare providers. You will be forced to change doctors with which you’ve gained a rapport.
  • Your Employment is Tied to the Plan: If you choose to end employment with that particular company, then your insurance will also be canceled. Your new company may offer similar insurance benefits, or they may not. If you seek out supplemental insurance plans with health and life insurance, then you can have more consistency.

There are many reasons why it is beneficial to seek supplemental insurance coverage. You can keep your employer’s plan as well. One will not cancel out the other.

Meet with an Insurance Agent

Insurance is essential to have so that you don’t leave your family with financial stress if you are suddenly injured or pass away. Our team can meet with you and discuss a plan that is specific to your needs. We can answer any questions that you might have. Call us at JPN Insurance Services to learn about the various options that are available: (951) 443-9925.