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Voluntary Benefits: Hospital Indemnity Insurance in Connecticut

Choosing the right voluntary benefits for your company can be a daunting task. Many options are available, and each offers its own advantages and disadvantages. Nesso Group can help you…

April 24, 2023

Written by Justin Sloan

Choosing the right voluntary benefits for your company can be a daunting task. Many options are available, and each offers its own advantages and disadvantages. Nesso Group can help you navigate the world of voluntary benefits and find the right option for your company in Connecticut.

If you’re looking for comprehensive health and benefits services in Connecticut, Nesso Group is the perfect provider. Our benefits include voluntary benefits and hospital indemnity insurance. These plans offer employees a great way to get their needed coverage while keeping costs low.

At Nesso Benefits, we aim to meet the needs of businesses and individuals. Plus, we have a team of knowledgeable and experienced professionals ready to help you every step of the way.


Our Voluntary Benefits Service in Connecticut

Voluntary life insurance is a financial protection plan that gives a cash benefit to somebody else when the insured person dies. It’s an optional benefit offered by employers. Employees pay monthly premiums to receive the insurer’s guarantee of payment if they die. Employer-sponsored life insurance premiums are often cheaper than those in the retail market.

Do you want to offer your employees insurance in case of an emergency? Nesso Benefits provides employees with voluntary insurance, which gives them the financial security they need in an emergency. By offering various products, Nesso allows employees to choose what is best for them and their families.

How Does It Work?

Voluntary benefits work like any other insurance policy. The employer pays a premium to the insurer, and the insurer agrees to pay a death benefit to the beneficiaries if the insured person dies.

Employers offer 2 types of voluntary life insurance policies: whole life and term life.

Voluntary Whole Life Insurance

Voluntary whole-life coverage protects the policyholder for their entire lifetime. If elected, this coverage also applies to a spouse or dependent–protecting their lives fully. Usually, the amount of protection given to spouses and dependents is less than what’s available to employees.

Like whole-life policies, the cash value builds up according to the policyholder’s investments. Some insurance plans only offer a fixed interest rate on the cash value, while others allow investing in equity funds that fluctuate with the stock market.

Voluntary Term Life Insurance

Voluntary term life insurance is a policy that only offers protection for a specific amount of time, like 5, 10, or 20 years. Since building cash value and investing are not possible with this type of insurance, the premiums are less expensive than whole-life equivalents.

Even though the premium’s monthly price remains consistent during the policy term, it can go up when it’s time to renew your coverage. At Nesso Benefits, we can help you find the best fit for your company.

The Benefits Of Voluntary Benefits

Some benefits of the voluntary benefits include:

  • It can help improve employee morale.
  • It’s a smart way to attract and retain employees.
  • Employees can choose the coverage they need.
  • It’s an affordable way to offer comprehensive coverage.
  • This benefit will cease upon the employee’s termination or if they decide to quit.
  • It’s available to an employee immediately upon hiring or shortly after that.
  • It’s paid for by a monthly premium that often takes the form of a payroll deduction.


Why are Voluntary Benefits Important?

Voluntary benefits are important because they offer employees comprehensive coverage at an affordable price. At Nesso Benefits, we help business owners to choose what is best for them and their families.

Additionally, voluntary benefits can help improve employee morale and attract and retain employees.

Hospital Indemnity Insurance at Nesso Benefits

An indemnity insurance policy is an insurance coverage that pays out to the policy owner for specific, often unanticipated losses or damage expenses. The amount paid by the insurer won’t surpass the total loss amount, as decided in the insurance contract. Policyholders make regular premium payments to keep their protection active.

Businesses and professionals use these policies as a safety net in cases where they are held responsible for events such as mistakes or negligence. This protection usually comes in the form of a letter of indemnity.

Nesso Benefits offers a variety of voluntary benefits, including hospital indemnity insurance. Hospital indemnity insurance is a great way for employees to protect themselves from incurring high medical bills if they need to be hospitalized or receive emergency care.

How it Works

Hospital indemnity insurance is an extra insurance plan you can purchase in addition to your health insurance plan. You pay a monthly premium for this, just as other types of insurance. Plus, if you have to stay in the hospital for any time, you receive a fixed benefit amount paid directly to you. This money helps cover some of the expenses associated with your hospital stay.

A hospital indemnity insurance payment could be used for different expenses, including deductibles, coinsurance, transportation, medications, rehabilitation, or home care costs. You can also use the money to pay for additional expenses incurred as you recover from your injury or illness, such as groceries and childcare.

Unlike health insurance, which contracts with providers and pays them directly, hospital indemnity insurance payouts are sent directly to you as the policyholder.

Get Plenty of Benefits from Hospital Indemnity Insurance

There are plenty of benefits that come with having hospital indemnity insurance. Some of them are:

It Helps You Cover Some Out-Of-Pocket Costs

This includes deductibles, coinsurance, and other expenses your health insurance may not cover.

It Gives You Freedom to Choose How to Spend Your Benefit Payments

You can use the money to cover essential living expenses, such as groceries and childcare, as you recover from your illness or injury.

It’s a Great Way to Protect Yourself from Incurring High Medical Bills

If you have this type of coverage, you can rest assured knowing that you have a safety net in place in case of an unexpected hospital stay.

The Importance of Hospital Indemnity Insurance

There’s no doubt that hospital indemnity insurance is a valuable coverage to have. It’s a great way to protect yourself and your family from high medical bills in the event of an unexpected hospital stay.

With Nesso Benefits, you can choose from a variety of voluntary benefits, including hospital indemnity insurance. Nesso offers comprehensive coverage at an affordable price, making it a great option for employees in Connecticut.

Other Voluntary Benefits Services We Offer

Voluntary benefits at Nesso offers different insurance programs that you can purchase through payroll deduction. The best part is that this cost is very minimal for your business.

Critical Illness

This type of insurance pays a lump sum benefit if the policyholder is diagnosed with a covered critical illness, such as cancer, heart attack, or stroke. This money can help cover medical bills, lost income, and other expenses associated with the illness.

Critical illness insurance is a great way to protect employees from becoming financially stranded during a vulnerable time. At Nesso Benefits, we know that no one is immune to a critical illness, which is why we offer this important coverage. Our Critical Illness Insurance plans are affordable and provide comprehensive coverage to employees in Connecticut.

Accident Insurance

This type of insurance pays a lump sum benefit if the policyholder is injured in an accident. The money can be used to help cover medical bills, lost income, and other expenses associated with the accident.

Accident insurance is a great way for employees to protect themselves against the unforeseen. It makes funds available when an unexpected accident happens. Nesso Benefits offers affordable and comprehensive accident insurance plans to employees in Connecticut. We’re committed to providing our clients with the best possible coverage.

Our Straightforward Process

At Nesso Benefits, we understand that choosing the right insurance can be confusing. We make it easy for our clients by offering a straightforward process.

  • First, you get in touch with our team and let us know what you’re looking for.
  • We’ll ask you a few questions to better understand your needs. Then, we’ll provide you with a list of options that are best suited for you.
  • Once you’ve chosen the right plan, we’ll help you enroll and answer any questions.


Choosing Us is Your Best Choice!

Many benefits come with working with Nesso Benefits, including:

  • You’ll be able to focus on other important aspects of your business while we take care of the tedious task of finding the best benefits for your company.
  • You can feel confident that you’re getting the best possible rates on voluntary benefits and hospital indemnity insurance.
  • You’ll have access to our team of knowledgeable and experienced professionals who can answer any questions about our services.

Nesso Benefits: We Provide the Most Reliable Health and Benefits Services

Are you looking for the most reliable health and benefits provider in Connecticut? Look no further than Nesso Benefits! Nesso Group has provided top-notch health and benefits services to businesses and individuals in Connecticut for many years.

What sets us apart from other providers is our commitment to our clients. We’ll go above and beyond to ensure you get the best possible service. Every business is unique, and we understand that each has different health and benefits needs. That’s why we’ll work with you to find the best solution for your company. Get in touch with us to learn more about our services.


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