Without any uncertainty whatsoever, easily the least expensive form of insurance that provides medical benefits, death benefits and more for work related injuries.
1. Death Benefit: Contains a substantial death benefit for certain survivors. Example: California provides surviving spouse a death benefit of $250k, and additional payments for dependent children.
2. Lost Wages/Disability Benefits: Pays for wage loss due to work related accidents, injury and disease. Up to 2/3rd of your salary subject to the maximums in your state
3. No Deductibles or Co-Payments: There are no deductibles or co-payments for work related injuries that require medical treatment. For covered, work related injuries, 100% medical, drug, hospitalization, first aid, transportation, physician expenses, pharmacy, therapy, home care, prosthetics, follow up care – all medically related expenses, often Including chiropractic, acupuncture and even holistic medicine are paid by workers compensation benefits.
4. No Lifetime Caps for Medical: Work related claims are not subject to regularly high stop-loss amounts like medical/health plans are.
5. Choose your Doctor: Physician of your choice with pre-designation for workers’ compensation covered medical visits.
6. 24 Hour Coverage, even foreign travel: 24 hour protection not limited to your state but includes coverage for travel to all states including foreign business travel when you have a work related injury.
7. Retraining: Incorporates a limited “Supplemental Job Displacement Benefit.”
8. Extra Costs: Has provisions that allow the spouse or “significant other” of an injured worker to collect for the extra expenses that are often incurred as a result of the incapacity of the breadwinner due to a job related accident or injury.
9. Burial Payments: For a work related injury that results in a death, a burial benefit is paid, amount subject to your states guidelines.
10. Cost: The premium basis to cover officers is capped, subject to your states guidelines. You can do a quick Internet search for what the minimum and maximum payroll caps for officers are in your state to estimate your premium. Or call Granite for more information.
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