Robert Jain: The Questions New Employees Should Ask About Insurance
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 types of insurance do I need?" While these will vary, depending on your goals and family structure, there are different types of insurance that everyone should have. Retirement, for example, is one of the most crucial, especially when established early. Health, vision, and dental are standard in many workplaces, and matter just as much, if not more so. These are just a few categories that you would be wise to discuss with your employer.
"Do I get to keep my insurance if I leave my place of employment?" You won't be able to keep your insurance, if you leave your place of employment for any reason, so it's important to know what your rights are. Be mindful of the fact that this only applies to employer-provided insurance; plans that employees purchase outside of work will carry over. Furthermore, employer-provided insurance may have a grace period that will allow former workers to shop for alternatives. These are just a few things to know about this particular topic.
"If need be, can I cancel my insurance?" If you must cancel your insurance, whether it's due to a lack of funds or what have you, it can be done. Keep in mind, though, that providers have unique cancellation guidelines. Some may require that you pay fees. Others will need enough notice, too. Don't assume that you're locked into a particular plan forever, as you may find it surprisingly easy to get out of a plan at any time.
"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 types of insurance do I need?" While these will vary, depending on your goals and family structure, there are different types of insurance that everyone should have. Retirement, for example, is one of the most crucial, especially when established early. Health, vision, and dental are standard in many workplaces, and matter just as much, if not more so. These are just a few categories that you would be wise to discuss with your employer.
"Do I get to keep my insurance if I leave my place of employment?" You won't be able to keep your insurance, if you leave your place of employment for any reason, so it's important to know what your rights are. Be mindful of the fact that this only applies to employer-provided insurance; plans that employees purchase outside of work will carry over. Furthermore, employer-provided insurance may have a grace period that will allow former workers to shop for alternatives. These are just a few things to know about this particular topic.
"If need be, can I cancel my insurance?" If you must cancel your insurance, whether it's due to a lack of funds or what have you, it can be done. Keep in mind, though, that providers have unique cancellation guidelines. Some may require that you pay fees. Others will need enough notice, too. Don't assume that you're locked into a particular plan forever, as you may find it surprisingly easy to get out of a plan at any time.
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