Cornerstone Insurance Agency Blog
Workers’ compensation is a form of insurance that provides a certain wage to any worker or employee in case of injury. This compensation serves as an alternative to employees to avoid further legal conversations against their employers.
Workers’ compensation is provided by companies who are also after the safety of their employees and protects their interests at the same time. Most workers are entitled to workers’ compensation like office workers and factory employee among others.
Herein, we list down five known benefits of worker’s compensation:
1. Cash Benefits
Every worker who needs medical assistance or any form of injury compensation can receive cash benefits from their employer. This form of benefit is beneficial for an injured worker or any laid-off employee because it is a form of financial support after they leave the company.
2. Medical Benefits
This is the most common benefit that companies are investing in. Medical benefits provide a wide array of medical assistance to any worker such as annual physical examination, dental, and any hospital support.
In case there is an injury to an employee, the medical benefits can pay off any expenses incurred during the hospitalization phase and other medical support needed.
3. Supplemental Benefits
Supplemental benefits are given to injured employees in cases they cannot return to work for an indefinite period. This act as their lifeline support from their employer to still have a dime even though they are not working due to the injury they acquired while at work.
4. Social Security Benefits
Some employees who cannot recover from an injury or have been disabled often grab the chance of early retirement. The social security benefits give the retired worker monthly compensation to support their life after their service from their respected employers.
Physical and mental impairments are both valid reasons in have the social security benefits.
5. Death Benefits
If worse comes to worst, the workers’ compensation offers death benefits to any demised employee and to his/her family as an act of support to them, most specifically on the financial side.
The death benefits of a former employee can survive by his/her spouse, children, or other declared dependents should there be a lack of immediate family members. Death benefits from the workers’ compensation are usually given weekly.
Most employees are covered by the workers’ compensation. This compensation policy follows any legal declaration, terms, and conditions issued and approved by the State. The said policy answers to all legally binding documents and related paperwork as recognized by the implementation body. At Cornerstone Insurance Agency, we put our clients first by offering them policies that they can afford. You can get more information about our products and services by calling our agency at (888) 661-8831. Get your free quote today by CLICKING HERE.