Most people work because they need the money, but the perks that go along with some jobs are an attraction as well. These perks are in the form of benefits offered by the employer. The most valuable workplace benefit is insurance. This can determine if a person accepts a job or not. Here are some various workplace benefits that may be offered by your job.
Disability Insurance – There is short-term and long-term coverage. This insurance provides financial benefits to a person who is unable to work for a period of time as a result of an accident or injury. These plans compensate for a percentage of the employee’s salary, but it does not pay all of it.
Long Term Care Insurance – There may come a time when your health care is not covered by traditional medical health insurance. This can be from aging and/or certain medical conditions. Some people may find it difficult to perform daily living activities such as bathing, walking, getting dressed and eating. This would require long term care. Depending on the circumstances, patients may need a private nurse, nursing home care, hospice care, or another type of specialized care. Long term care insurance provides coverage for many of these services.
Accident Insurance – This insurance helps with unexpected events that are a result of an accident or injury. You can receive benefits to pay for things such as the emergency room, hospital charges, radiology expenses, doctor office visits, therapies, etc.
Critical Illness/Cancer Insurance – This provides coverage for illnesses such as heart attack, cancer and strokes. These illnesses often require extremely high cost treatments. This insurance will provide financial assistance to pay for a number of things related to the illness.
Universal Life Insurance – This is life insurance that not only offers a death benefit, but it offers a savings plan as well. You can increase premium payments and have the extra put into a tax-free account.