A job is not merely a place to work and earn a paycheck. Sometimes a job can be an awesome place that provides a myriad of workplace benefits the employee needs. Work benefits may include special days off, fitness center memberships, discounts and various types of insurance. The following are some of the types of insurance that an employer may include in their benefits package:
Long-Term Care Insurance
Long-term care insurance is special coverage for an employee who becomes ill and incapacitated for a period of longer than six months to one year. Long-term care coverage usually kicks in when regular disability ends.
Disability insurance is coverage that provides an employee with a percentage of his or her pay if it so happens that the employee becomes ill or injured. Disability insurance usually covers the employee for six months to one year.
Accident insurance is coverage that protects the employee in the occurrence of an accident. The accident could be a vehicular accident, work accident, traveling accident, or anything that the person does not expect to occur. Accident coverage can sometimes pay some of the expenses that the employer’s regular plan does not cover. Thus it can act as a supplementary insurance or a standalone insurance.
Critical Illness/Cancer Insurance
Critical illness insurance is amazing insurance to have because it covers illnesses such as cancer, heart attack, HIV, Parkinson’s disease and more. Such a policy will provide the sufferer with a lump sum payment if that person were to end up with one of the aforementioned diseases.
Universal Life Insurance
Universal life insurance is quite beneficial to the employee because it can cover that person’s family members if something happens to him or her. Such a policy provides the family with money to pay for burial expenses and other bills should a life-ending event happen to the employee.
A prospective employee should seek to obtain the above insurance types when considering a job with a company. They can be invaluable to the worker.