Open enrollment is your annual opportunity to review your coverage and make sure it meets your needs. While health insurance is essential, it may not cover everything — especially when unexpected expenses arise. That’s where supplemental benefits come in.
Think of supplemental, life, and disability insurance as a bonus to your benefits package. It is a set of optional protections that fill the gaps left by your major medical plan. Accident insurance pays out if you or a covered dependent gets hurt. Critical illness coverage gives a lump sum after a diagnosis, like cancer or a heart attack. Hospital Indemnity plans help cover the extra costs associated with a hospital stay. These plans are designed to complement your medical coverage, not duplicate it.
Accident insurance — provides cash benefits if you’re injured in a covered accident. Use it for deductibles, copays, or everyday expenses while you recover.
Critical Illness insurance — pays a lump sum if you’re diagnosed with a serious condition like cancer, heart attack, or stroke, so you can focus on recovery, not bills.
Hospital Indemnity insurance — helps offset costs for hospital stays, including room charges, transportation, and even child care while you’re admitted.
Life insurance — helps ensure your loved ones are financially supported if something happens to you.
Disability insurance — replaces part of your income if an illness or injury keeps you from working.
Supplemental, life, and disability insurance are affordable, especially when offered through your employer. Premiums can often be deducted directly from your paycheck, and benefits are paid directly to you. Think of it as financial cushioning for life’s what ifs. Employers should consider offering supplemental benefits because they:
Supplemental benefits are not about replacing what you already have. It is about strengthening it. During this open enrollment season, take a few extra minutes to explore your options. A little planning today can make all the difference tomorrow.
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