Employee insurance programs - 100164

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Employee Insurance Programs

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Employee Insurance Programs

Abstract

Employee insurance programs refers to diverse insurance cover policies that an organization can provide for their employees to safeguard them in case of accident, deaths and injuries. These insurance programs will provide a fraction of the income when the workers are incapacitated by injuries, accidents or death. Through provision of employee insurance programs, the employer will reveal their respect and care for their employees. Consequently it will help them maintain talented employees and hence competitive advantage. Employee insurance programs terms and policies vary from one organization to the other depending on employee’s contribution and how long they have worked for the organization.

 

 

 

 

 

 

 

 

 

Introduction

Employee benefits basically implies the life insurance, retirement plans, vocation, disability insurance, employee stock ownership plans and health life insurance among others. Benefits are continuously becoming costly for organizations to offer to employees, thus the options and range of benefits keep changing swiftly to incorporate, for instance, flexible benefit plans. Benefits are types of value, other than compensation, that are offered to the employee in exchange of their contribution to the firm, that is, executing their duties. This paper will focus on diverse forms of insurance programs that can be offered in a firm’s compensation and benefit package. It will include a definition and discussion of the advantages of term life insurance, universal whole life insurance, accidental death and dismemberment as well as long and short-term disability insurance.

Term life insurance is vital since it act as a worker’s financial safety net in the course of the most vit