Many workplaces offer their employees workplace benefits when they first become new employees. Some benefits start the first day the employees work, and other benefits start within 60 to 90 days. The following are some benefits that such individuals may receive.
Disability Insurance
Workers never know when an unexpected illness or injury may occur. Therefore, employers provide disability insurance in their packages. Disability insurance pays a portion of the worker’s paycheck until he or she recovers from an ailment. This insurance can usually cover the employee for a period of up to six months.
Long Term Care Insurance
Long-term care insurance is one of the work benefits that assist the employee with an illness or injury that will last longer than regular disability benefits will last. The time frame is usually more than six months. Jobs may offer their employees this benefit in the bundle they provide.
Accident Insurance
Accident insurance can provide the employee or his or her loved ones with funding if an accident occurs. That funding can help the person to maintain the home while the healing process progresses.
Critical Illness/Cancer Insurance
Critical illness coverage is a special benefit for employees who receive a diagnosis for cancer or one of many other critical illnesses. It provides a lump sum distribution to insured parties who qualify. The insured person can use the funds in any way that will help him or her to live a comfortable life while that person is seeking healing. The funds will eliminate stress during the process.
Universal Life Insurance
Universal life insurance is a product that provides a payout if the insured person dies. Those monies will go to the individual’s designated family members to pay for the burial costs or living expenses. The insured person may also be able to withdraw funds from the policy after it earns a significant amount of money.
Covered persons can contact the insurance company and open a claim if something occurs. The insurance company will investigate the matter and award the funds if the insured party provides enough documentation. These products make life easier for the insured party so that he or she can live a prosperous existence.