CVS Annual Enrollment - supplemental insurance/coverage

[mentos]

Annual Enrollment deadline is coming up soon. I always sign up for medical, dental, 401k, HSA but never paid attention to the rest. Are any of these supplemental coverages worth getting or are they overkill? Obviously everyone's situation is different especially if you have kids, but just wanted to hear some suggestions.

Accidental Coverage
Critical Illness Insurance
Hospital Indemnity Insurance
Long-Term Disability
Supplemental Term Life
Supplemental AD&D
Spouse Life
Child Life
Health Care Flexible Spending Account (if you max out HSA do you need this too?)
Business Travel Accident
Legal Services Plan

I've even heard of some people getting their own umbrella insurance policy outside of work, is that necessary?

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[HandsomeVampire]

Single: signed up for hsa, long-term disability (pays 60% of your pay until you're 65 if you're disabled), Supplemental Term life ($250K if you die, only 5$).

Did you go with Aetna? Wish Aetna was free after acquiring it. If you get Supplemental Term, where will the money go if you die?

 

[mentos]

Single: signed up for hsa, long-term disability (pays 60% of your pay until you're 65 if you're disabled), Supplemental Term life ($250K if you die, only 5$).

If you don't have kids, what is the term life for?

 

[PharmDBro2017]

If you don't have kids, what is the term life for?

Spouse, parents, brother or sister, etc. It’s typically cheap... I don’t see why you wouldn’t. My death/funeral cost shouldn’t be a burden to anyone. A 100-250k policy would be dirt cheap.

Probably will do a 750k-1m term soon. Enough to pay off debt (two homes, car, spouse student loans), adequate college fund for children. Money for spouse to continue education and do her dream job, etc...


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[mentos]

Spouse, parents, brother or sister, etc. It’s typically cheap... I don’t see why you wouldn’t. My death/funeral cost shouldn’t be a burden to anyone. A 100-250k policy would be dirt cheap.

Probably will do a 750k-1m term soon. Enough to pay off debt (two homes, car, spouse student loans), adequate college fund for children. Money for spouse to continue education and do her dream job, etc...


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Do you get term life through work or outside? Do you recommend a certain company? Thanks.

 

[PharmDBro2017]

Do you get term life through work or outside? Do you recommend a certain company? Thanks.

I got quotes from USAA recently, I believe they are one of the cheapest you will find.

Waiting until open enrollment starts and will compare prices that work offers vs. USAA, and pick which is best. Make sure it’s term... not whole life insurance.


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[mentos]

I got quotes from USAA recently, I believe they are one of the cheapest you will find.

Waiting until open enrollment starts and will compare prices that work offers vs. USAA, and pick which is best. Make sure it’s term... not whole life insurance.


Sent from my iPhone using SDN mobile

No military for me, I'll have to shop around. Do you get disability insurance too?

 

[PharmDBro2017]

No military for me, I'll have to shop around. Do you get disability insurance too?

I will be doing the same thing as mentioned above comparing what Usaa and work offer.

Getting a disability coverage that will allow the same lifestyle I have now, and that will also allow me to continue contributing to a retirement account at the same rate.


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