If you have just been hired, you'll want to get the most out of your job as possible. This brings us to benefits, with insurance being one of the most commonly invested in. Despite this, it's important to be aware of what you're getting, which is where insight from Robert Jain, as well as other names in finance, comes into play. Here are just a few inquiries that, as a new employee, you should bring up.
"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.
"What if I leave my current place of employment? Does my insurance carry over?" In most cases, no. If you purchase insurance, be it related to health, retirement, or what have you, through your employer, it won't be retained if you leave. However, there are certain places of work that allow for a grace period, as far as insurance is concerned, which means that you will be able to keep your plan for a certain length of time as you shop for different options. Speak to your employer to learn more.
"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.
"What if I leave my current place of employment? Does my insurance carry over?" In most cases, no. If you purchase insurance, be it related to health, retirement, or what have you, through your employer, it won't be retained if you leave. However, there are certain places of work that allow for a grace period, as far as insurance is concerned, which means that you will be able to keep your plan for a certain length of time as you shop for different options. Speak to your employer to learn more.
"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 insurance, 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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