The Appeal of Workplace Benefits
Workplace benefits are a concern for most employees. Most people refuse to accept jobs that have no benefits. And if they accept the job they usually are not there for long. Most American workers consider workplace benefits the most important employment perk. The benefits available depend upon the employer.
Partial List of Workplace Benefits
1. Universal life insurance is life insurance that only expires when the policyholder dies. Other forms of life insurance expire at a pre-determined date. Universal is different in that it never expires as long as the premiums are paid.
2. Disability insurance provides income for employees who are sick or injured an unable to work. Short-term disability provides income for months or weeks after the employee becomes unable to work. Long-term disability is available is only available after short-term disability expires. It is also harder to get than short term-coverage.
3. Accident insurance can help cover the cost of deductibles, co-pays, therapies, and x-rays when an employee is in an accident. The accident usually must occur on the job while the employee is working. But depending on the policy, it might apply following any accident.
4. Long term care insurance is usually for elderly people or anyone who needs help with daily living activities. That means a person of any age could finding themselves needing long term care. This coverage pays for things such as home healthcare aides, nursing homes, and equipment like wheelchairs.
5. Critical illness or cancer insurance coverage is for people who might develop a critical illness. Cancer, stroke, and heart attack are the main illnesses. As for Cancer insurance, you do not qualify for it if you currently have cancer or were treated for it within the last 5 or 10 years.