Death is a sensitive topic, and most Filipinos are hesitant to think about what can happen to their families in the event of their untimely demise.
While providing employee health benefits is a sound investment for employers, some companies go the extra mile by offering life insurance as well. Life insurance is important to employees, especially if they’re the bread winner of the family. Voluntary benefits like life insurance will empower employees and let them know that the company is concerned about the financial security.
Help your employees prepare for life uncertainties and make sure that their families are covered with a financial plan, so they can focus on excelling within the workplace and not worry about the future.
Life insurance covers any cause of death, whether due to illness or accidents, except suicide on the first year of coverage. It also provides additional benefits in case of untimely loss of life, dismemberment or disablement. In case of total and permanent disability, it advances the life insurance benefit through a monthly income.
Often, life insurance also comes with a fixed daily benefit to supplement income lost due to hospital confinement or accident. If your employee is diagnosed with any critical illness, it pay a pre-determined amount under the chosen policy. If found terminally ill, it advances a portion of the life insurance benefit.