Guide to Workplace Benefits Insurance
Various benefits are often offered through employment agreements and can be a powerfully motivational factor for those seeking the “perfect” corporate job. Workplace benefits vary from “Google-like” environments in which complementary video games, Foosball, and in-house meals are the focus to the more typical work places in which extraordinary medical and dental benefits are offered to the worker and his or her family and are thus considered the most valuable. Below are some of the more common benefits that many employers will offer to work prospects:
Long-term care insurance is designed for those suffering from a debilitating illness or injury that lasts more than a year. There is also the short-term medical coverage, which is just what the name implies. It is for those who might be unwell for a shorter period of time, normally up to one year. (Long-term insurance usually becomes active when short-term is no longer appropriate.)
Disability insurance is a kind of policy that is engineered to protect employees who become unable to perform their normally required duties of the job. One’s issue could stem from a physical or mental issue. Disability insurance is designed to cover a certain level of a worker’s pay until he or she can get back on their feet and resume their work duties.
Accident Insurance, as the name implies, helps with funding for those suffering from the unpredictable consequences of accidents that can strike at any time. This is why so many employers provide accident insurance to their employees. This type of a policy can often cover one’s children and spouses as well as the employee recipient of said coverage.
Critical Illness Insurance is the type of coverage that assists people who have become stricken with chronic and severe illness, like cancer or AIDS. Critical illness insurance gives a lump sum payment when a claim is approved and can be hugely helpful to both the sufferer and his or her family.
Universal life insurance is the kind of coverage that is designed to help one’s family and other pre-designated beneficiaries after the policyholder passes away. Most employers offer some kind of life insurance coverage in these packages. An intriguing component of a universal life policy is its ability to provide policyholders the freedom to invest some of the money in stocks and other investments to boost potential returns in the investment. The consequence of this coverage is that it’s potentially a higher payout should the invested portion realize gains beyond a standard policy.