I- A major concern for most employees is caring for their families in the event of the employee's death. Many employers provide life insurance for employees.
1- Does your organization offer a group insurance policy?
2- If so, what is the basic plan design of your organization's life insurance policy, and for how much are you covered?
All coworkers have different wants and different needs when it comes to life insurance plans. This is an area that no one want to talk about but at some point, those left behind will need this benefit.
3- What would coworkers want to consider as a part of the plan design?
II-In addition to replacing household income when an employee either retires or is no longer working, he or she may also carry some type of income-replacement plan in the event they become disabled.
1- Does your current (or former) employer offer disability coverage for employees? (use the website reference about Adult Medical Day Cares in New Jersey)
2- What are the specifics of your coverage?
3- Do you feel the need to purchase supplemental disability insurance? Why or why not?
There will be situations that impact us all as individuals physically throughout our lives. This will have an adverse impact on our job performance. That said:
4- why are disability programs so important for coworkers and what types of plans should be considered?
1. Yes, my organization offers a group life insurance policy called the Federal Employees Group Life Insurance (FEGLI) (www.opm.gov).
2. The basic group plan is a group term life insurance coverage in which all eligible employees are put into the plan as soon as they are hired, except for those who opt out of the plan. The basic group plan covers an employees' annual basic pay rounded up to the nearest $1000 with an additional $2000. There are three options (option A adds $10,000 to the basic plan, Option B offers an adds up to 5 times the employee's basic pay, option C offers coverage for an employee's spouse and eligible children) an employee can add on after they are enrolled in the basic plan. The government will pay for one-third of the premium and the employee will pay the other two-thirds of the basic group plan. The plan does not have to offer a paid-up ...
The following posting discusses various employee benefits including life insurance, income replacement and disability.