What Are Living Benefits and Why Do They Matter?
July 24, 2024 | Tags:
Life insurance provides your employees with the crucial peace of mind that, in the event of their death, their family will receive financial support*.
But did you know that this important coverage can also offer your employees valuable benefits that can be used while they’re alive?
Life insurance plans can include access to a variety of helpful services, such as:
- Grief Counseling
- Employee Assistance Programs (EAPs)
- Will Preparation
- Travel Assistance
- Identity Theft Resolution
Here’s a list of common scenarios that illustrate how your employees may benefit from these additional resources:
Scenario 1: An employee unexpectedly loses a loved one and is having trouble coping.
Helpful Resource: Grief Counseling
Experiencing loss, especially sudden loss, can be a complex situation to navigate. Talking with a grief counselor can provide valuable support during these difficult times. All visits are confidential and can help employees cope with loss as they heal.
Scenario 2: An employee’s spouse is struggling with depression and needs to talk to someone.
Helpful Resource: Employee Assistance Program (EAP)
The goal of these programs is to connect your employees with the resources they need to handle everyday challenges impacting them and their families. EAPs offer confidential and personal support and assistance with life transitions, legal problems, substance abuse and more.
Scenario 3: An employee wants to proactively decide how their assets will be distributed if they pass away.
Helpful Resource: Will Preparation
A will is a critical component of an estate plan and protects an employee's loved ones and their personal wishes. Creating a will allows your employees to direct their assets to where and to whom they wish after they pass. Having access to an online will preparation service that takes less than an hour can make this process much easier. Scenario 4: An employee realizes their identity has been stolen and they don’t know where to begin.
Helpful Resource: Identity Theft Resolution
Recovering from identity theft is a lengthy process. When an employee has their identity compromised, this resource provides access to experienced fraud specialists who can help resolve financial, criminal or medical identity theft.
Additional services, such as fraud alerts, cyber monitoring of financial accounts and assistance with law enforcement, can be set up to provide peace of mind.
Scenario 5: An employee takes a vacation and needs medical emergency services from being badly injured on a hike.
Helpful Resource: Travel Assistance
Medical emergencies don’t take vacations, so having extra protection while away from home is a huge benefit. Travel assistance programs can help employees locate the appropriate medical and non-medical services in the location they’re traveling.
Knowing employees have a quick, direct resource to help them find access to doctors, hospitals, pharmacies and other useful services during stressful times offers them peace of mind.
Interested in providing these resources to help your employees face similar life challenges?
By partnering with Medical Mutual, you can offer high-quality life insurance that gives employees peace of mind with value-added living benefits they can use today. Talk to your broker or Medical Mutual sales representative today to learn more. You can also fill out our group quote form.
*MedMutual Life Insurance Company policies contain exclusions and limitations