You own a business and you’ve completed all your employee’s medical insurance plans, as well as, supplemental plans. Have you thought about offering them legal and identity protection as well? It may seem like an expensive cost to your business and unnecessary for everyday business operations, but it might be a good idea overall.
When talking with employees I like to share an incident that happen to me. Identity theft is a growing issue around the world and you may not even be aware of it. One day I received a phone call from AT&T cell phone service for an overdue $800 bill. Keep in mind I had not received anything in the mail, nor did I use AT&T for my cell phone service. I explained to the person calling that I had been with another cell carrier for over 10 years and never opened an AT&T cell phone account. They went on to tell me that I opened an account in Minnesota two months prior, but never paid the bill.
This could have cost me $800, through no fault of my own. I was a victim of identity theft. If I had not been a customer of my current provider for so many years and lived in Colorado this could have been an issue. They contacted my carrier and confirmed that I had been with them a long time. The charges were dismissed. This type of theft is being repeated every day. I now have Identity Theft protection and am alerted if an account is opened using my name, date of birth and social security number.
What does legal and identity protection entail?
Legal protection usually entails the use of in-house or contracted lawyers to assist with legal advice when a legal crisis occurs. This benefit could be used for reviewing legal contracts or perhaps they are a party in a lawsuit or DUI. The longer you participate in this type of protection the more billable hours you accumulate to use.
Will preparation is one of the best benefits from having access to legal counsel. If it is a simple will they could receive it without a charge. Just by participating in a program that offers it.
Protection from Identity theft entails continual screening of employee’s security, as well as, assistance and insurance if their identity is stolen.
How serious of an issue is identity theft?
Identity theft affects nearly 15 million Americans every year. The annual loss from identity theft is as high as $50 billion. Every 2 seconds, someone becomes a victim of identity theft. Not only can someone steal your identity, but the personal information of your close family. It can take years to recover what has been stolen, especially if you are not covered for identity theft.
Should my employees find their own legal and identity protection?
Many companies do not offer any sort of legal or identity protection to their employees. In today’s world, finding and keeping employees is becoming more difficult. One way to stay ahead of the competition is to choose benefits that will enhance your benefit portfolio. Items that current and future employees may not think of purchasing for themselves, but as their employer, you do.
Why should I offer my employee’s protection?
Your employees are integral parts of running your business and part of their identity is your business. This symbiotic relationship entangles the employee’s life within the business. With a lot of business and personal information being exchanged over the internet, your business secrets are exposed with employee’s personal information. It is important to be proactive in protecting your business’ secrets while adding a benefit to your employee’s lives.
Benefits always have a cost attached, but overall, investing in the legal and identity protection for your employees and your company can be recouped with just one claim. Identity theft costs money and time. Relieving your employees from this stress is huge. When employees see that you care about them and their families, they will care about taking care of you and your company and clients.
Contact SW Insurance Corp today to review your benefits package and discuss the option for adding Legal and Identity Theft protection for you, your company, and your employees.