Supplemental Disability Insurance? What Is It?
Supplemental disability insurance policies, or “gap insurance”, are disability insurance policies available to individuals that are designed to fill in gaps in coverage that may be provided through an employer-provided disability insurance policy.
What Will It Do For You?
A Supplemental Disability Insurance policy can reduce your risk of severe income loss in several ways:
- Policies can be written to extend your income coverage to 100% at very affordable rates.
- Because you pay the premium, all benefits received via the Supplemental policy are tax-free.
- Gaps in your policy from your job can be identified by your insurance advisor and can be specifically bridged with a Supplemental policy.
- While group coverage ends when you leave your employer, Supplemental coverage remains with you regardless of who you work for. You won’t have to worry about you coverage ending.