Understanding the Different Types of Workers’ Compensation Benefits

As a responsible employer, you likely understand the importance of workers’ compensation insurance. These policies can provide critical financial security for your company and its workforce while helping the latter maintain or recover their health and wellness following work-related incidents. To ensure you have adequate workers’ compensation coverage while maximizing the efficiency of your premiums, you should retain a comprehensive understanding of the various benefits of your policy.

Types of Benefits Offered by Workers’ Compensation Insurance 

Following an employee’s on-the-job injuries or work-related illnesses, both employers and affected staff may benefit in several ways from workers’ compensation insurance, including the following:

• Medical assistance—If an employee requires medical assistance for a work-related ailment, workers’ compensation insurance may help pay for health care costs.

• Income replacement—An employer’s coverage may also help affected workers recoup wages they would have earned if not for their injury.

• Disability benefits—Workers’ compensation coverage may also contribute to an employee’s ongoing income should their injury or illness force them to take time off work.

• Vocational rehabilitation—Following a work-related injury or illness, employees may be unable to perform their previous responsibilities. Fortunately, workers’ compensation insurance can help pay for costs as they learn new skills for a different job.

• Death benefits—Should a workplace incident prove fatal, workers’ compensation insurance may help compensate victims’ families, such as by helping to pay for income replacement and funeral costs.

• Employer legal costs—Employee injuries and illnesses may lead to lawsuits. In such cases, an employer’s workers’ compensation insurance may help cover resulting expenses and losses, such as attorney fees, settlements and judgments.

We’re Here to Help

At Alliance Insurance & Realty, we have extensive experience working with employers in the Bremen, Georgia, area and will work with your business to secure ideal workers’ compensation coverage. Contact us today to get a quote.

This blog is intended for informational and educational use only. It is not exhaustive and should n