Customer Friendly Workplace Benefits Coverage


Workplace benefits are a package comprised of health, wellness and financial components that an employer often offers to new employees. The package usually will take effect between the worker’s first day of employment and his or her 90th day. Every employer will offer a different set of benefits. Usually there will be on hand a benefit specialist who will give the worker all necessary information so as to explain how the package components work. Some of the most common kinds of workplace benefits are the following:

A. Disability Insurance
Disability insurance offers blanket financial protection to employees who take ill during the time of their employment. It also safeguards one from the financial consequences of physical injuries. The policy pays out a portion of their regular pay while they are unable to work and recovering from an injury or illness.

B. Long-Term Care Insurance
Long-term care insurance is similar to disability insurance, but it picks up where the usual disability insurance runs out and ceases to provide compensation. Disability will normally last for around six months. Long-term coverage can provide assistance for a year or even longer.

C. Accident Insurance
Accident insurance offer financial protection for those workers who are injured or for their beneficiaries in the event of their death. It compensates beneficiaries that the person opts to name.

D. Critical Illness & Cancer Insurance
Critical illness insurance is designed for extreme illnesses that may strike an employee. Conditions such as cancer or heart failure are featured in this coverage, which pays out a lump sum benefit if the insured party becomes afflicted.

E. Universal Life Insurance
Universal life insurance is tailored toward protecting the policyholder’s family. It provides compensation for the individual’s children and family should he or she pass away.

Those employees who are offered and opt for such a plan will normally pay a monthly premium, but the employer may take the premium out of the paycheck in weekly or biweekly installments. If something should occur that prompts a payout, the insured must file a claim with the insurance provider. The insurance company will ask for definitive proof before paying the claim. Evidence can include a doctor’s diagnosis, hospital bills, and so on.