As an employer, you want to offer the best benefits possible for your employees. However, budget constraints and a small or overworked staff can limit the perks you can provide. Personal accident insurance sometimes does not make the cut, but there are plenty of reasons why employees hope for just such a personal accident insurance benefit.
Here are just five reasons employees want personal accident insurance provided by their employer:
- To maintain financial security.
Accidents throw lives into turmoil in seconds, and the costs associated with accident recovery can quickly develop into a major financial setback. Lost wages, out-of-pocket expenses, at-home support, medical care – it all adds up. Through personal accident insurance, employees are offered a cost-effective way to keep medical care, therapy, or the costs of other healthcare needs low.
- To provide for their family.
Financially, emotionally, and professionally, an employee can experience major setbacks because of an accident – whether it occurred on or off the job. But it’s not just the employee who feels the stress. Families are left unprotected as well, especially when the employee is unable to work. The worry about where money will be coming from to cover all the new healthcare expenses is alleviated somewhat when personal accident insurance pays benefits for medical and recovery expenses such as ambulance, hospitalization, major diagnostic exams, surgery, medications, equipment, and so much more.
- To have the freedom to get help where they need it.
Employees who can choose personal accident insurance are often attracted to the freedom of the plan. Benefits can be used at the employee’s discretion and for various needs, from housekeeping assistance to transportation to child care.
- To protect their loved ones.
Personal accident insurance can include family coverage for spouse, dependents, or domestic partner. The family deductible can be reasonably set and, once satisfied, makes benefits payable for all covered family members. When combined with group health and medical plans, personal accident insurance can extend an employee’s protection, and protect their family members too. The need to dig into savings just to afford necessary medical care doesn’t have to be the only option.
No matter what other insurance benefits you offer your employees, and no matter what they do or do not choose, if they opt for personal accident insurance they will always be provided with cash benefits paid directly to them. Accidental injuries must qualify to be covered – daredevil antics will not get benefits; injuries from a no-fault car accident will.
The administration of personal accident insurance, and any group health insurance plans, takes effort. Reach out to The Benefits Group to learn more about disappearing deductibles, support for administering personal accident insurance plans, choosing the right offerings for your employees, and more. You can help your employees protect their wages and savings with personal accident insurance. Contact us today to learn more.