Supplemental Insurance
InsuranceGlossary term
Definition
Additional insurance policies that fill gaps in primary coverage, paying benefits directly to the policyholder. Examples include accident, critical illness, and hospital indemnity plans. Payments can be used for any purpose including non-medical expenses.
Related terms
- PremiumThe amount paid for an insurance policy, typically monthly, quarterly, or annually. Premium costs vary based on coverage amount, deductible, and risk factors.
- DeductibleThe amount you must pay out-of-pocket before your insurance coverage begins. Higher deductibles typically result in lower premium costs.
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