Various benefits are often available through employment and can be a huge motivational factor for people still working in the corporate world. Below is a list of some of the more common benefits that many employers offer to their employees. This kind of coverage can include disability income provision, dental and vision plans, accident insurance, and life insurance. Work place benefits coverage is a great way to better ensure financial security for employees. The plans can be bundled or packaged to meet the employer’s budgetary parameters.
Long Term Care Insurance
Long-term care insurance is meant for those suffering from a depilating illness or injury that lasts more than a year. Short-term medical coverage is just what the name implies. It is for those who usually are unwell for a shorter period, normally up to one year. Long-term insurance will usually become active when short-term is no longer appropriate.
Disability insurance is a type of policy that is designed to cover employees who become unable to perform their usual and required duties of the job. One’s debilitation could be the result of a physical or mental issue. Disability insurance is designed to cover a certain amount of a worker’s pay until he or she can resume their work duties.
Accidents, as the name implies, are unpredictable and can strike at any time. This is the reason that some employers provide accident insurance to their workers. This kind of a policy can often cover one’s children and spouses as well as the employee.
Critical Illness Insurance
Critical illness insurance is a kind of coverage that helps people who become stricken with illnesses that are chronic and severe, like cancer or AIDS. Critical illness insurance providers generally issue a lump sum payment when a claim is approved.
Universal Life Insurance
Universal life insurance is a type of life insurance that is designed to help one’s family and other designated beneficiaries after he or she passes away. Most employer packages offer some form of life insurance. An unusual aspect of the Universal life policy is its ability to give policyholders the freedom to invest some of the money in stocks and other investments. The result of this is potentially higher payout of money should the invested portion realize gains beyond a normal policy.