Most employees are quite focused on the quality workplace benefits. After salary and hours, benefits are usually the top of the list for discussion. In the attempt to attract better employees, often employers offer other kinds of insurance in addition to a normal health plan and dental coverage.
Examples would be long-Term Care Insurance, which is good for those who are afflicted with a serious illness or injury that results in ongoing medical support. This insurance is activated when other forms of normal health insurance and government programs like Medicare and Medicaid have run out.
A long-term care insurance policy compensates for expenses like visiting nurses or home health aides who are there to help with daily activities, like bathing, dressing or with bodily functions. This kind of care is usually needed when one is stricken with an illness or involved in an accident that makes them unable to take care of themselves.
Disability Insurance is designed to help when an individual becomes disabled due to injury or illness and it generally covers the medical care and also time lost from not being able to work.
Short-term and long-term disability insurance is also often offered. Short-term disability is for those who are expected to recover from an illness and usually has a time limit of around 60 days. This is to allow fro recuperation following surgery or while being treated for a health problem. Long-term disability insurance has no time limit.
Accident Insurance is most appropriate for jobs that require driving. A worker can also obtain coverage should they work in risky or dangerous environments, such as in construction.
Accident insurance covers many situations and can protect a worker against injury or damages resulting from a car or workplace accident, and many other types of accidents as well. There are generally limitations as to what incidents the insurance covers and there are often limits on how much it will pay for injuries. Speak with an insurance professional for more information.
Critical Illness Insurance deals with issues resulting from a critical illness that can end in a chronic health condition or even death. This kind of coverage usually pays a lump sum for treatment and also compensates the insured for covered living expenses while he or she is unable to work.
Critical illness insurance payments are contingent upon a doctor’s confirmation that the illness is officially diagnosed.
Universal Life Insurance never expires and, assuming the premium is kept current, remains in effect indefinitely. Upon the insured’s death, benefits are paid out to one of more beneficiaries.
Work benefits are so much more than just one’s compensation and often add great value to one’s employment situation. When negotiating your next possible hire for a new job, be sure to ask about what potential insurance benefits are offered.