The very definition of “supplemental” insurance implies the obvious. It means adding on more to something that already is in effect to ensure that you are fully and properly covered given your particular circumstances. Consider the positive benefits of supplemental vitamins, supplemental lessons, and things of the like. The same concept exists with insurance. It adds to what you already have, thereby giving you more protection.
A supplement to your insurance policy is specifically meant to add to coverage you already have; it provides a higher level of protection. This kind of extra coverage helps you to avoid unexpected costs and gives you help to pay for what are normally unavoidable charges such as co-payments or deductibles. In many cases, your claims can be paid in cash, giving you the choice and freedom to use the compensation in ways you deem most helpful for your situation. Having supplemental coverage assists you in avoiding being denied for services due to your primary policy’s lack of coverage levels.
In a nutshell, supplemental insurance is a type of coverage that provides additional levels of protection beyond what you already have with your normal insurance policy.
The purpose of this kind of insurance is to help pay for fees or expenses that would usually not be covered by your normal insurance. Basically, it fills in the gaps left by your primary insurance policy.
There are a myriad of supplemental insurance options. Some examples include medical, dental, and vision coverage. There is also vision, Medicare, accident, critical medical care, short or long term disability, life and homeowner supplemental coverage options available.