Supplemental Insurance costs

Each supplemental insurance premium is different from person to person, as there are a number of factors which can influence the premium. Even the group rate can fluctuate from policy to policy since they allow for different options to be selected as is appropriate. The total cost of the premium can be reduced by increasing the amount of the deductible, which is the amount that the policy holder will pay out-of-pocket before the insurance pays the balance. For example, a policy holder may decide to pay the first $500 of the year’s total expenses. There is no ratio by how much the policy premium will reduce for a given amount. These are details which need to be discussed with an insurance agent.




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