Congratulations, you just started a new full-time job and are ready to make a positive impact. With this new position comes a number of benefits, which brings us to the topic of insurance. Robert Jain, as well as other names in the world of finance, will tell you that this is a worthwhile investment to make. If you are still curious, and would like to learn more, here are some of the insurance questions that you would be wise to ask.
"When am I eligible for insurance through my place of work?" When it comes to insurance, as well as other related benefits, there is usually a 90-day wait period implemented. According to authorities on finance like Bob Jain, this is established to ensure that long-term employees receive their benefits. Keep in mind, though, that businesses are different when it comes to wait periods. What this means is that you should speak to your employer about this ahead of time.
"What forms do insurance come in?" When it comes to the forms of insurance worth investing in, there are quite a few to cover. Health, for example, will help you mitigate the expenses associated with everything from medical emergencies to doctor's visits. Retirement will allow you to build an account that, decades down the road, will allow you to leave the working world with comfort. These are just a few examples, but your mileage may vary.
"Will I keep my insurance if I switch jobs?" Generally, if you purchase insurance through your employer, you will not be able to retain it if you switch jobs. This isn't always the case, though, especially when it comes to insurance plans that employees purchase without assistance from their jobs. In a situation like this, insurance is retained. It's important to discuss this matter with your employer so that you have a better understanding of your rights.
"What if I have to cancel the insurance I have?" If this is the case, you can rest easy knowing that, generally, you can cancel the insurance you've signed up for. Keep in mind, though, that you must provide enough notice ahead of time. Additionally, you may have to pay cancellation fees, which vary depending on how much you're investing already. In general, though, canceling one's insurance isn't as complex as it may seem.
"When am I eligible for insurance through my place of work?" When it comes to insurance, as well as other related benefits, there is usually a 90-day wait period implemented. According to authorities on finance like Bob Jain, this is established to ensure that long-term employees receive their benefits. Keep in mind, though, that businesses are different when it comes to wait periods. What this means is that you should speak to your employer about this ahead of time.
"What forms do insurance come in?" When it comes to the forms of insurance worth investing in, there are quite a few to cover. Health, for example, will help you mitigate the expenses associated with everything from medical emergencies to doctor's visits. Retirement will allow you to build an account that, decades down the road, will allow you to leave the working world with comfort. These are just a few examples, but your mileage may vary.
"Will I keep my insurance if I switch jobs?" Generally, if you purchase insurance through your employer, you will not be able to retain it if you switch jobs. This isn't always the case, though, especially when it comes to insurance plans that employees purchase without assistance from their jobs. In a situation like this, insurance is retained. It's important to discuss this matter with your employer so that you have a better understanding of your rights.
"What if I have to cancel the insurance I have?" If this is the case, you can rest easy knowing that, generally, you can cancel the insurance you've signed up for. Keep in mind, though, that you must provide enough notice ahead of time. Additionally, you may have to pay cancellation fees, which vary depending on how much you're investing already. In general, though, canceling one's insurance isn't as complex as it may seem.
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To learn more regarding coverage, feel free to consult Bobby Jain.. This article, Robert Jain: The Questions New Employees Should Ask About Insurance is available for free reprint.
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