In today's competitive world, people change jobs more often and have less loyalty to sticking with one company than they did in the past. Even though the job market may be moving this way, it can still be hard to convince people to join your business.  One way of doing this is to offer specific types of benefits packages as part of their contract of employment, that is, to insure your employees. So, for example, you could offer a range of employee health insurance benefits (all of which can easily be added to your small business insurance commitments). 

If you make the time and take the effort to insure your employees in this way, then they will be more likely to join your company in the first place and less likely to leave as they won't want to lose the benefits that you give them. Employee health insurance, for example, is very attractive to most people, especially if you extend cover to their families, and it doesn't have to bump up your small business insurance costs by much. So, what measures can you take to insure your employees?

Popular employee health insurance options

There are various types of policy that you could take out on behalf of your employees. Some businesses will buy individual policies for employee health insurance, but many will put a group policy in place to protect everyone. Examples include:

1. Life insurance:  This employee health insurance cover will make a lump sum payment to employees' next of kin if they die. The lump sum here is usually linked to their salary levels. Cover here may also include critical or terminal illness protection which will give them the lump sum if they are diagnosed with a critical or terminal illness.
   
   
2. Employee health insurance:  Also known as private health insurance, this type of employee health insurance policy allows your employees access to private medical treatment. Employee health insurance cover can range from basic in-patient services in private hospitals to fully comprehensive cover that also includes out patient needs. Many companies will extend this cover to include spouses and dependant children. The fact that you can choose from basic plans upwards makes this a popular small business insurance option.
   
   
3. Income protection insurance:  If some of your employees go off sick long-term or have an accident that prevents them from working then you won't have to pay them forever. This kind of policy put in place to insure your employees allows you to insure your employees against this kind of event and will give them some peace of mind as it will give them an income once you stop paying their salary.

Although benefits such as employee health insurance are 'nice to have' you will also need to put Employers' Liability Insurance in place as well. This is a legal requirement for the majority of business that employ other people—whether you are looking for small business insurance or for cover for a large multi-national. Here, you insure your employees by making sure that you will be able to pay them compensation if they have an accident or fall ill because of the job they do.

Do bear in mind that there are specific cost savings to be made with these kinds of policies, including employee health insurance and small business insurance that gives life cover, if you set up a group policy. And, also remember that it is wise to insure your employees in a structured way.  Most companies will offer these kinds of employee benefits only once a new employee has been employed with them for a specific amount of time.                        

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