What are Employee Benefits?Employee benefits are insurance that covers employees of a common employer, or professionals in a common group.
Employee coverage helps reduce premium costs because it reduces the insurance carrier's risk by creating a pool of people to insure who are together for reasons other than obtaining insurance. Employee benefits can also be a powerful incentive to keep and attract great employees. Major Types of Employee BenefitsEmployee Health Insurance
Employee health insurance coverage is a policy that is purchased by an employer and is offered to eligible employees of the company (and often to the employees' family members) as a benefit of working for that company. An Employee health insurance plan is a major part of many employee benefits packages that employers provide for their employees. Employee Life Insurance Employee life insurance (also known as wholesale life insurance or institutional life insurance) is term insurance covering a group of people, usually employees of a company, members of a union or association, or members of a pension or superannuation fund. Individual proof of insurability is not normally a consideration in the underwriting. Rather, the underwriter considers the size, turnover, and financial strength of the group. Employee Disability Insurance Employee Disability Insurance is a type of Employee insurance that provides regular income replacement payments to an insured member of the group in the event of an eligible disability resulting from illness or injury. Coverage is generally offered in two types: short-term disability (STD) or long-term disability (LTD). Employee Accident/Supplemental Insurance Supplemental insurance is extra or additional insurance that you can purchase to help you pay for services and out-of-pocket expenses that your regular insurance does not cover in the event of an accident or other covered loss. Employee Dental/Vision Insurance When organizations want to offer the best dental and vision care benefits to attract and retain the best employees they need to work with our Employee dental and vision experts. We have access to the benefit plans that will keep your employees, and their families healthy. Contact us to learn more about the right benefits for your Employees. |
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