From the course: Human Resources: Compensation and Benefits
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Life and health insurance
From the course: Human Resources: Compensation and Benefits
Life and health insurance
- Life is uncertain, and a serious injury, prolonged illness, or the death of a breadwinner could easily wipe out a lifetime of savings and assets. Any of those events could place a family in debt for years to come. To help protect your employees, and indirectly, your business, you need to offer your employees two essential benefits, life insurance and health insurance. Life insurance is pretty straightforward, and 86% of companies provide life insurance policies for their employees. The amount of coverage may vary, but typically employers provide one to two times the employee's annual salary. And most companies provide an opportunity for employees to buy more coverage, either through a direct payroll deduction, or a flexible benefits option. Talk to a life insurance specialist, or do some online research to get all of the details to help you make thoughtful choices. Health insurance, on the other hand, is an enormous topic, so you will definitely need to consult a specialist to…
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