In today’s employment environment, employers are in competition with one another to attract top talent. The best talent helps a company rise to the top of its industry. And while there may be a large pool of potential candidates, finding the right candidate for your company may not be easy. One way to make sure the top candidate for your company wants to work with you is to offer benefits above and beyond the norm. Most employers will offer things like health insurance and a retirement savings account. However, when you, as an employer, offers benefits like life insurance, you are showing your prospective employee that you are willing to rise above the rest to provide them with benefits to protect their peace of mind.
Life Insurance Shows You Care About Your Employees as People
Many benefits offered by employers are meant to help your employee have access to healthcare or wellness incentives. These incentives are meant to keep the employee healthy. Life insurance, on the other hand, is meant to give an employee peace of mind. His or her family will have peace of mind that they will be provided for in the event of his or her death. This is the purpose of all life insurance policies, whether purchased as an employee benefit or privately. It resonates with employees because it goes above the standards of benefits many employers offer. In doing so, employers are showing their employees that they are people with families and lives outside of work. This type of benefit helps an employee feel valued.
Life Insurance as a Supplemental Benefit
When an employer offers life insurance to his or her employees, it is considered a supplemental benefit. It is often completely paid for by the employee, but employers can offer paid amounts as well. Many supplemental benefit life insurance policies offer guaranteed acceptance for employees. This means the policies provide benefits to individuals who may not otherwise be able to qualify for life insurance. This gives many employees additional peace of mind, considering they may not have any other policies available to them. Yet, as a supplemental benefit, it does not cost the employer any out of pocket money unless the employer decides to contribute to the policy.
If you are interested in providing your employees with life insurance benefits, contact the experts at Fusion Employer Services. They will be happy to walk you through the process of obtaining life insurance as part of your benefits package.