Workers are a fundamental element within a company, which is why it is important to provide them with benefits and insurance. In Mexico there are a large number of SMEs that generate a high percentage of jobs, their staff is essential within their business, so it is better to provide insurance for them.
There are different types of workers’ insurance, each one covers different needs and maintains different conditions in its contract, here we will mention some so that you can identify which option is more convenient.
Before hiring insurance for your workers, get advice from a specialist. Photo: Pixabay
Life insurance: group and group
This type of insurance applies to a large number of people, and is implemented in employers, banks, and another group to which a person belongs. In the event of the death of the insured, the money goes to the indicated individual or group.
Insurance for medical expenses: group and group
For companies it is better to have insurance for their workers for major medical expenses, in this way labor relations are strengthened because the employee feels the support of having a policy in case they or their children require this service, it also complements the protection granted by the IMSS.
Personal accident insurance: group and group
The company when contracting this insurance guarantees the economic tranquility of its employees and their families in case they have an illness or accident, they cover:
Accidental Death Loss of members Reimbursement for Medical Expenses due to accident Daily compensation for hospitalization.
Policies vary in their validity, some can be annual, semi-annual, quarterly or even monthly.
Insurance: payroll discount
In this type of insurance, they are exclusive plans for private companies, which seek to grant their workers access to individual life insurance that protects them and their families. It is not required to pay a large amount and it is done through a discount through payroll or banks, it can be biweekly or monthly.
Insurance: endowment retirement
They are an alternative for workers who are not affiliated with social security institutions, they are a form of pensions. The person who hires you pays an insured amount for when you retire from working life.
Insurance: civil liability
This type of insurance provides protection to the insured in the event that a third party demands compensation for damages and prejudices as a result of an event during the term of the contract, for example that may cause death, or some physical as well as material injury.
The most advisable thing for you to select a good insurance option for your workers is that you request advice from an expert to guide you through the process and decide what is most convenient.
In order for you to continue being informed about this and other related topics, we suggest you visit our Insurance section.