Colonial Supplement Insurance – Is it Right for You?

Colonial Supplemental Insurance offers several types of supplemental, a.k.a, voluntary, insurance coverage including disability, supplemental life, accident, hospital confinement and cancer and critical illness plans. It is important to note that all supplemental plans have exclusions and limitations.

The disability plan benefits give you some financial cushion to keep you going while you are unable to work because of illness or injury. The supplement life insurance is in addition to life insurance coverage that your employer provides for you. If you leave your employer, your supplemental insurance follows you. And when a health catastrophe strikes, the medical supplement gives you some support to meet unexpected out-of-pocket expenses.

Supplemental insurance helps the client to prepare for the days ahead when unexpected events can happen. Supplemental insurance picks up where primary traditional insurance leaves off. In fact, supplemental insurance gives Colonial customers the freedom from worrying about how the bills will get paid and allows them to put their attention to the more important matters of getting well again.

Colonial Penn made the 2003 Wyoming Buyers Guide to Medicare Supplement “Medigap” Insurance with an A- score. The company strives to help clients minimize personal financial risk. With the help of a benefits advisor clients choose the right insurance coverage for them. The relationship between Colonial and its customers is vitally important for both.

You can get Colonial Supplemental Insurance through your employer and premiums can be set up to be taken out of your salary as a payroll deduction, possibly with pre-tax dollars, helpful since insurance premiums rose by 9.2 percent in 2005. Colonial coverage is so simple to tailor to individual needs. Product benefits may vary by state, so coverage may not be available everywhere. It is important for you to check with your own policy for limitations and exclusions.

The coverage for active duty military personnel serving in the war is obviously affected. The Uniformed Services Employment and Re-Employment Act of 1994 requires employers to provide the same non-seniority-based rights and benefits to those on military leave as they provide to other types of leave. Colonial is honoring their obligations to the men and women serving in the war. As long as premiums are paid under the Leave of Absence provision or specific Family and Medical Leave Act provision, group plans for reservists continue in effect. Group coverage can be reinstated within 31 days of discharge from the military and return to his or her job with the former employer.