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Workplace Benefits

CRITICAL ILLNESS

Good health is important, and, when you get sick, it can be difficult to fulfill your responsibilities. When critical illness makes its way into your life, everything changes. There will be hefty medical bills that need to be paid, and the income made by the one suffering the ailment will cease. Critical illness insurance is crucial when this type of situation arises, and it can provide the financial stability to make it through the problem.

How it Works

There are some basic regulations when it comes to making a claim on this type of policy. For example, the provider may require that the policyholder survives a certain period of time before benefits will be awarded with 14 days being typical. If a payout is substantiated with the survival period and diagnosis being satisfied, there are two general ways in which relief is provided. Some markets have standardized dollar amounts designated to various illnesses while others make a lump sum cash payment.

Major Benefits

There are a number of benefits you can reap if you make the investment in insurance for critical illness. Among the things that can be covered when a claim is granted include:
Expensive medical costs
Recuperation aids
Replacement of lost income due to the illness
Money for the change in lifestyle
What is Covered?

Many feel that they are relatively healthy and this type of insurance would be of no use to them. However, you cannot predict the future, and there are a number of maladies that could make their way into your life unexpectedly. Among the illnesses that are known to be included in these critical illness include:
Alzheimer’s disease
Blindness and deafness
Kidney failure
Transplants
HIV or AIDS contracted during a blood transfusion
Terminal illness
Don’t Wait Until It’s Too Late

The best time to protect yourself in the event of a critical illness is now. The investment in this type of policy can easily pay back in the future.

UNIVERSAL LIFE INSURANCE

No matter one’s age, those that have any financial dependents on them will want to take a closer look at life insurance. These policies can help to provide assistance for a wide variety of unique costs that will occur after the death of a loved one, but the policies themselves and the industry jargon can be confusing. For those that have recently begun this process, universal life insurance is one of the more popular policy types that many have chosen to give them and their family peace of mind.

This process begins with the individual taking a close look at exactly what financial aid they are providing their family including a spouse, children, and even grandchildren. These beneficiaries may be receiving help for any number of large expenses in the coming years or may not be able to cover some of the costs associated with a funeral or medical bills. Unlike other forms of life insurance, a universal policy allows the insured individual to choose the exact amount of coverage that they would like which will then be one of the primary factors for calculating their premium. As long as the premiums continue to be paid, the individual will be covered for the rest of their life despite any changes to their health or well-being.

The primary benefit of this form of coverage is giving the insuree and the beneficiaries the knowledge that they will have help with both the initial and ongoing costs that take place after the death of a loved one. Funerals can quickly move into the range of tens of thousands, and these policies will provide immediate cash to cover some or all the costs. For those that would like more comprehensive insurance options, they can increase their premiums to provide coverage that will extend to large financial obligations that their family and loved ones may have in the future.

These policies will often include coverage for everything from a mortgage and car payments to medical bills and college tuition. In the end, a universal life insurance policy is the most effective way to protect family and loved ones without an expiration date on the policys benefits.

DISABILITY INSURANCE

Over the course of their lifetime, most people will face a serious illness of some sort. The illness may be temporary and overcome with treatment such as cancer. It may also be a chronic condition such as multiple sclerosis that affects their ability to carry out daily living activities.

Because of the likelihood of such an event, many people choose to purchase disability insurance. This is insurance that is designed to help protect people financially in case they are stricken with a serious illness. The illness may prevent them temporarily or permanently from being able to earn a living.

Typically, the person will buy a disability insurance policy. The insurance policy provides a sum of money to the person as long as they remain disabled. The policy may also pay a sum of money if the person becomes partially disabled. This may be the case if the person has lost the ability to use one arm or has lost sight in one eye. The policy will then offer him compensation to make up for the loss.

This type of insurance may be purchased through an insurance agent. The person will choose to purchase the policy directly from the company offering the insurance. Many people choose to do so because they want to be protected in case of illness and find the insurance affordable.

Another way many people have this type of insurance is through work. Many companies offer their employees a disability policy. This type of policy is especially common in jobs where an employee may face a significant risk of on the job injury such as a police officer or fireman. The policy might be difficult for the worker to afford unless the employer provides a subsidy to purchase it.

The benefits of such a policy are often enormous. Even a temporary disability can make it hard for people to earn money. A long-term absence for a job may mean the total loss of the job. This type of policy can help someone who faces a health problem remain on financially stable footing even when they can’t work.
LONG TERM CARE

Many people can expect to face a long illness, especially towards the end of their lives. An illness that lasts for many years such as Alzheimer’s disease may require the person to be cared for by someone else. This can pose a huge burden on the person’s loved ones. Fortunately, there is a form of insurance that can help protect someone if they are facing a long term illness.

This insurance is known as long term care insurance. Long term care insurance is designed to provide the policy holder with the means to pay for any necessary care they may need. Long term insurance needs may include skilled nursing home care, care in an institution or just help paying for an aide to come to someone’s home and assist them with daily living activities. Care insurance is designed to allow the policy holder to pay for any necessary or have their loved ones pay for any care without dipping into their accumulated assets.

Long term insurance may be purchased as a separate policy from an insurance company. Many people do so to help protect their assets as they age. Other people will have access to this type of policy as a benefit of their employment. The type of benefits offered by the company may vary. In general, most policies of this type cover payment for skilled care as needed. A policy may cover skilled care that is used in place of having someone with a serious illness go into a nursing home. It may also cover other kinds of care that can be expensive such as nursing during the evening and on weekends.

In general, the policyholder pays for a policy. The holder of the policy makes regular payments for the coverage. Payments are made annually or on a more routine basis. The company will uphold the policy as long as the policyholder keeps making payments. This can mean for many years if someone has a lingering and costly illness. The payments allow the policyholder to help get the kind of care they really want if they get sick.
In today’s job market, while many employers are competing with each other to offer the best workplace benefits to their employees, many offer a benefit called accident insurance. This type of insurance functions as an alternative to a traditional healthcare insurance policy, generally costing less to maintain, and provides insurance coverage to you and your covered family members for non-catastrophic injuries.

As the name suggests, an accident policy covers you in the event of an accident, which is something for which we can never truly be prepared. Accidents typically covered under these policies include broken teeth, concussions, lacerations, a broken leg and many other injuries that can happen unexpectedly and without notice.

Imagine that it’s late autumn and you’re cleaning the clogged gutters on your roof of all the leaves that have fallen. You take a step to turn around and suddenly you lose your balance and fall. You suffer a broken arm and a few cuts and scrapes. Thankfully you’re okay, but now you need medical attention. This example provides an illustration of how quickly an accident can occur.

Once you’ve received the medical care you need, you’ll soon encounter medical bills for the services you received. Accident insurance provides you with the financial means to pay those expenses while avoiding many out-of-pocket costs associated with your medical care and life’s expenses while you recover.

Many accident policies will also provide an allowance for rent, car payments and utility bills. Often times these policies will pay a cash benefit directly to you so that you can decide how best to allocate your benefits. In addition, accident plans do not generally have a deductible, nor do they have a waiting period for when they become effective; you’re able to use your benefits immediately upon the effective date of the policy. Perhaps what accident policyholders like most about these plans is that there is no network of doctors or hospitals that you are required to use.

An accident policy provides you with the financial security and peace of mind you need to be ready to handle life’s unexpected moments.
ACCIDENT INSURANCE

In today’s job market, while many employers are competing with each other to offer the best workplace benefits to their employees, many offer a benefit called accident insurance. This type of insurance functions as an alternative to a traditional healthcare insurance policy, generally costing less to maintain, and provides insurance coverage to you and your covered family members for non-catastrophic injuries.

As the name suggests, an accident policy covers you in the event of an accident, which is something for which we can never truly be prepared. Accidents typically covered under these policies include broken teeth, concussions, lacerations, a broken leg and many other injuries that can happen unexpectedly and without notice.

Imagine that it’s late autumn and you’re cleaning the clogged gutters on your roof of all the leaves that have fallen. You take a step to turn around and suddenly you lose your balance and fall. You suffer a broken arm and a few cuts and scrapes. Thankfully you’re okay, but now you need medical attention. This example provides an illustration of how quickly an accident can occur.

Once you’ve received the medical care you need, you’ll soon encounter medical bills for the services you received. Accident insurance provides you with the financial means to pay those expenses while avoiding many out-of-pocket costs associated with your medical care and life’s expenses while you recover.

Many accident policies will also provide an allowance for rent, car payments and utility bills. Often times these policies will pay a cash benefit directly to you so that you can decide how best to allocate your benefits. In addition, accident plans do not generally have a deductible, nor do they have a waiting period for when they become effective; you’re able to use your benefits immediately upon the effective date of the policy. Perhaps what accident policyholders like most about these plans is that there is no network of doctors or hospitals that you are required to use.

An accident policy provides you with the financial security and peace of mind you need to be ready to handle life’s unexpected moments.






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