• What is Supplemental SPOUSE Life Insurance?

  I am a married woman with no children. My husband does not have benefits through his job, so I carry all the insurances. He does however have a term life insurance policy on himself through an outside company. I am doing my enrollment for my 2010 benefits through my employer. I currently have employer paid basic life insurance and I also have supplemental life insurance, (for extra piece of mind). My question is, in addition to the supplemental life insurance, I also have an option for supplemental spouse life insurance. Does that mean if something happens to my husband my insurance will pay me? I’m confused.

   

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    Susie T 5:09 pm on March 10, 2010
    

    Typically in group life insurance, you, the employee, have $x of life insurance as Basic. Then you can choose to add Supplemental (more). Your spouse usually gets a Basic amount, maybe $25,000 or some small amount. Then you can also choose to add Supplemental (more) on your spouse; it’s optional and you have to pay for it.

    Sometimes the company pays for the Basic, but you have to pay for the Supplemental (additional), whether on you or your spouse. Decide how much money you would need if your spouse dies, and use that to decide if you need Supplemental insurance on him.

    Group term insurance is the cheapest insurance there is, so if it isn’t too expensive and you need additional income if your husband died, get as much as you can (if you can afford it).

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    jlf 5:09 pm on March 10, 2010
    

    Yes, that’s what it means. Life insurance on YOUR spouse.

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• What is Supplemental SPOUSE Life Insurance?

  I am a married woman with no children. My husband does not have benefits through his job, so I carry all the insurances. He does however have a term life insurance policy on himself through an outside company. I am doing my enrollment for my 2010 benefits through my employer. I currently have employer paid basic life insurance and I also have supplemental life insurance, (for extra piece of mind). My question is, in addition to the supplemental life insurance, I also have an option for supplemental spouse life insurance. Does that mean if something happens to my husband my insurance will pay me? I’m confused.

   

  • 

    Susie T 5:10 pm on March 10, 2010
    

    Typically in group life insurance, you, the employee, have $x of life insurance as Basic. Then you can choose to add Supplemental (more). Your spouse usually gets a Basic amount, maybe $25,000 or some small amount. Then you can also choose to add Supplemental (more) on your spouse; it’s optional and you have to pay for it.

    Sometimes the company pays for the Basic, but you have to pay for the Supplemental (additional), whether on you or your spouse. Decide how much money you would need if your spouse dies, and use that to decide if you need Supplemental insurance on him.

    Group term insurance is the cheapest insurance there is, so if it isn’t too expensive and you need additional income if your husband died, get as much as you can (if you can afford it).

  Reply Click here to cancel reply.

5:08 pm on March 10, 2010