| 404 N Court St. Medina | 330.722.4444 - 1575 Pearl Rd Brunswick | 330.225.5605

Insurance is important for all employees whether these policies are built into their employment contracts or not. Many employees find that they either don’t have adequate coverage through their jobs or they haven’t made the effort to get coverage on their own. The following four insurance types are important for all adults to have.

Life Insurance

Life insurance helps to protect both the employees, the employees’ defendants, and employers in the event that a worker dies. If your earnings are currently going toward supporting your family upon your death, life insurance allows your family to keep living comfortably through the proceeds set aside in your policy. Life insurance can also be used to pay federal estate taxes.

Employees who do not have access to life insurance through traditional employment with their jobs should find coverage on their own. These individuals can benefit from life insurance policies by taking the financial burden of their debts from their families after they die.

Social Security Disability Insurance

Social security disability insurance will pay bimonthly benefits to any employee who isn’t able to work. You’ll need to know how to apply for social security disability insurance in the event that you become disabled while working. This is part of the same social security program that pays retirement benefits as well. Based on an employee’s past earnings, these benefits are paid to an employee and his or her dependents if the employee becomes disabled.

To be eligible for social security disability insurance, a worker must have been employed by a company that offered such benefits. Self-employed individuals and independent contractors can also sign up for disability insurance to recoup their monthly incomes in the event that they become injured prior to retirement. The best policies for these individuals are the ones that are guaranteed renewable and unable to be cancelled.

Health Insurance

In addition to life insurance and disability insurance, health insurance is another necessity for every adult. All individuals can benefit from health insurance whether it is provided by their employers or not. Being in good health gives you the ability to work, to make money, and to live life to the fullest. In the event that you have an accident, develop an illness, or even come down with the common cold, you need to find a way to receive treatment without going into debt.

With health insurance, you’ll be able to have access to this medical treatment at a significantly discounted rate than you would otherwise. Thanks to health insurance taking care of the likes of deductibles, network coverage, co-pays, premium costs, and covered expenses, you’ll be able to maintain your health without having to pay out of pocket.

Workers’ Compensation

Workers’ compensation varies by state, but these policies cover employees who are hurt on the job. This insurance would pay for certain medical expenses as well as compensate you if you’ve lost any of your wages due to your inability to work. As this compensation acts as insurance against an accident on the job, workers who take advantage of its benefits are not allowed to sue an employer for the covered injury.

While freelancers and independent contractors won’t have built-in workers’ compensation policies, they can still sign up for policies that will cover work-related injuries or illnesses. These policies will cover medical costs, assistive services, reimbursement for wages, and protection against lawsuits from employees.

If these various insurances aren’t covered by your employer, it’s very important to look into getting covered on your own. Everyone should have the proper coverage he or she needs. Keep these four insurance types in mind as you decide what’s best for you and your family.