What Is Supplemental Life Insurance? 
Video Transcript : What is supplemental life insurance ? Supplemental life insurance can be extra insurance that you have above and beyond either your group plan at work or individually-purchased life insurance . If you purchased this and you need more , some people look at supplemental life insurance to augment what they already have . You may want to look at this in 2 ways '' ` Would I like to have more coverage or would I like to have a supplemental retirement income plan , an extra cash value contract , that can generate withdrawals to basis and policy loans to gain tax-free , as long as I keep the policy in force for the life of the policy insured ? ' If I 'm looking at it as a supplemental income play or I 'm looking at it as a supplemental death benefit , supplemental life insurance can be a great adjunct to what I already have , either by group or by my individual purchase . 