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Workplace Benefits Insurance

Understanding Workplace Benefits Insurance Products


Workplace benefit packages are often provided to employees, (or as motivation to those who are being courted to join a company), in order to give a sense of assurance that should something occur that, for example, might put a person out of commission and unable to earn income, they are protected financially. The myriad of benefits include coverage such as long-term care and disability protection, accident and critical illness and even universal life insurance coverage. All of this and more can be provided within the scope of an employer’s work benefits plan.
Here is the litany of coverage choices:

Long Term Care Insurance

Long term care coverage is a component of these plans frequently offered by companies as a benefit of employment. This type of insurance allocates care for people with severe illness, disabilities, or other conditions that mean one will need assistance on a daily basis for an extended length of time.

Disability Insurance

Disability coverage is designed for employees who, due to an injury or sickness, are no longer able to perform their normal job duties. Disability protection can provide coverage that pays out a part of a worker’s normal pay until the resumption of the usual employment duties.

Accident Insurance

Accidents, by their very definition, can occur at any time. This is why some employers provide accident insurance as a part of a work benefit plans. This kind of coverage can even cover a policyholder’s family members as well.

Critical Illness Insurance

Critical illness insurance provides a wide variety of coverage for those stricken with illnesses that are chronic and severe, such as heart disease, AIDS, or cancer. Critical illness insurance is normally provided in a lump sum upon approval of a claim.

Universal Life Insurance

Universal life insurance is a kind of life insurance that can help a policyholder’s family and and/or other beneficiaries after death. Most employer packages include some type of life insurance coverage. An unusual aspect of the Universal life policy is the freedom to invest returns into stocks and other potentially rewarding investments. This means that higher payouts can result as the invested portion potentially increases in value.


All the benefits described are often offered to the employee. Should the employee have a family, these benefits can be really beneficial in keeping a household finances in order during challenging times.