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Workplace Benefits Insurance

The Info on Workplace Benefits Coverage

Many businesses, over and above the usual health insurance and a retirement account offerings, will also extend to their workers a variety of supplemental benefits. Good workplace benefit insurance can provide financial protection from unexpected events that can happen over time. These packages are invaluable for many business owners who wish to attract the best qualified workers and for encouraging current employees to stay with them. Be it long-term care provision or aid for those who have somehow become disabled or for assistance in the aftermath of a serious accident or in the provision of universal life insurance, the many benefits offered through employment benefits are a big motivation for many. Some of the benefits include:

Long Term Care Insurance

Long-term care insurance is engineered for policyholders who face a serious illness or some kind of a severe injury, both of which last more than one year. Short-term medical coverage is for those who are stricken for a shorter period, normally up to one year. Long-term insurance usually kicks in when short-term coverage has ended.

Disability Insurance

Disability coverage is designed for employees who become unable to perform their normal job duties. Physical or mental issues can be triggering factors. Disability coverage is tailored to cover a part of a worker’s normal pay until he or she can resume their usual employment responsibilities.

Accident Insurance

Accidents strike at any time and at any place and this is why some employers extend accident insurance to their workers, especially those in more high-risk occupations. This kind of coverage can often cover a policyholder’s children and spouses as well.

Critical Illness Insurance

Critical illness insurance is a variety of coverage that helps people facing illnesses that are chronic and severe, such as cancer, AIDS, heart disease, etc. Critical illness insurance is generally paid out in a lump sum when a claim is approved.

Universal Life Insurance

Universal life insurance is a type of life insurance that can help one’s family and other designated beneficiaries after he or she passes away. Most employer packages offer some kind of life insurance. An unusual aspect of the Universal life policy is its built-in provision for policyholders that delivers on returns on stock investments and other potentially high-earning investments. This can mean higher payouts as the invested portion realizes increases.