Supplemental Insurance Basics
What is a worksite benefit?
A worksite benefit (also called a worksite insurance product) is a voluntary benefit offered through an employer at the worksite. Worksite benefits are sold through payroll deduction and typically at group rates. Common worksite benefits include: critical illness, accident, hospital indemnity, and supplemental life insurance.
Key Points
- Worksite benefit: voluntary benefit offered through employer at the worksite
- Sold through payroll deduction at group rates
- Common worksite benefits: critical illness, accident, hospital indemnity, supplemental life
- Group rates: typically lower than individual rates
- An independent agent can help employers set up worksite benefit programs