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Workplace Benefits Insurance


Workplace Benefits Insurance

According to a Guardian Life Insurance survey:  in regards to voluntary workplace benefits, around 60% of employees place the workplace as their most important financial services and health resource, thereby valuing their benefit offerings. Because of this, workplace benefits insurance places the employee wellness in high regard, considering worker’s happiness and productivity in the long run. From workplace workouts to employee assistance programs (EAP), medical and dental insurances, and even continued education, wellness programs attract the employee community and achieves a special unity between each other.

As a result, work benefits include much of the following programs and insurances:

Long-term care insurance: This policy reimburses customers an amount of money to assist them in daily living and activities; such benefits depend on the age when the policy was purchased, physical health, and whether or not the policy is comprehensive, covering services such as employees’ home, hospice and respite care, or even homemaker services.

Disability insurance: Statistically speaking, over 18.4% of Americans live with a disability, and 1 in 4 workers in the nation will suffer disabling injuries before retirement. This policy covers any physical or mental impairment that hinders workers’ abilities to productivity. Depending on the policy, workers can receive somewhere between 40% to 60% of tax-free gross income that will help them provide for their family.

Accident insurance: This policy covers medical and out-of-pocket accident costs, including medical exams, emergency hospital treatments, transportation, lodging, and medication, which can help employees use this insurance to make up for what their medical insurances cannot cover.

Critical illness/Cancer insurance: For cancers, heart attacks, paralysis, renal failures and other sudden and catastrophic changes, this policy generally pays a lump sum cash benefit for workers with these conditions, ranging from $10,000 to $1 million, depending on the policy and applicable benefits. Over 600,000 Americans have this protection, serving them for the future.

Universal Life Insurance: Unlike static life insurances, this policy creates a flexible protection combining the low-cost protection of term life insurance with the complete life insurance savings element, while items such as death benefits and premiums are altered as the policyholder’s circumstances change.