Workplace Benefits Insurance

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Understanding workplace benefits insurance

Happy employees are more productive and loyal to the shared goal of achieving a company’s predetermined objectives. Hence, as a business owner, you ought to put structures in place or come up with creative incentives such as introducing the work benefits packages that suit their specific needs.

Most employees consider the available workplace benefits when deciding on whether they should take up a new job opportunity or continue working for the current company. In order to promote the financial and health security of your employees, you need to attract new talents and the boost the morale of your existing staff by offering a wide range of workplace benefits:

Protect the health of your employees

The three basic types of insurance plans that can help your employees stay healthy include:

Medical insurance- most employers offer more than one plan. Even though employees may be required to pay higher deductibles, the monthly payments are less expensive for some plans.
Dental insurance- it helps your employees gain access to a number of dentists who are willing to provide x-ray, cleaning, and fillings services at discounted prices.
Vision plans- your employees can get services and products such as eye exams, contacts, and glasses at discounted prices.
Protect the income of your Employees

Salary could be the most important asset to your employees. Therefore, they’ll appreciate a gesture like assuring them that in case they get sick or injured and are unable to work, they can still get benefits. They’ll also feel secure if you assure them that their loved ones won’t suffer in the event of passing away. It offers:

Short-term and long-term disability income insurance- if an employee is unable to work as a result of an accident or illness his or her salary can be protected to up to about 40-60 percent. A supplemental individual disability income cover can be introduced to protect a higher percentage of protecting the salary.
Term life insurance- your employees’ designated beneficiaries can receive a sum of money when they pass away.
Permanent life insurance- the policy enables employees to build cash value to protect them even after they stop working for your company.
Protect the savings of your Employees

Accident insurance- payments are made directly to the affected employee to cater for a wide range of circumstances that are related to an accident.
Cancer insurance- direct payments are made to the employee to help cover the financial burden of dealing with cancer.
Critical illness insurance- employees can be protected in case of critical illnesses like stroke and heart attack.