Underestimating the importance of disability insurance would be a mistake. There are two kinds of disability insurance, and both are equally vital to any benefits package that you would offer to employees. These policies are known as short-term and long-term, and it is essential. Don’t overlook it.
Compared to past years, comprehensive coverage is much more accessible. For the past decade or so, employers have been extending their employees more coverage options than ever before. Every company can reap the benefits and rewards of offering these programs to their workers. In fact, employees are expecting these benefits, so excluding them would not be a good way to attract and retain the top talent in your field.
One of the reasons why many employers are reluctant to offer disability insurance is that there is a perceived lack of interest. But whether a worker becomes injured or falls ill, they’re going to need disability insurance to help offset financial hardships incurred by medical bills, hospital stays, and loss of income from being unable to work. Voluntary and supplemental benefits are of great interest to employees at all levels, even if they don’t think they will need them. It’s a small investment that has a wide variety of applications and advantages, such as how flexible they can be. In other words, it is well worth it to include this in any benefits package because you never know what tomorrow brings, and it’s better to be safe than sorry!
Covering the Premium
When the employer covers the premium, it means that paying for these policies presents less of a hardship on employees. Just by doing this, employers can attract more of their employees to sign up for these programs. Offering fantastic benefits is a surefire way to expand your team by getting the best and brightest to choose you over your competition. You’ll also keep your hardworking employees in the fold and encourage higher morale because they know you are doing your best to look after them!
Get Your Voluntary and Supplemental Insurance Policies with the MWE Partnership!
Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet the needs of all your employees. With over 17 years of experience, The MWE Partnerships is your one-stop-shop for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, then contact us today! Also, be sure to like our Facebook page and follow us on Twitter and LinkedIn for all the latest voluntary benefit news!