10 Aug 2012

Google Provides Death-Benefit Packages For Employees

Google is known for being one of the best places to work for. Their benefits package is top notch – not to mention they added bonuses and food perks, but last night I learned about one more part about their package that makes me admire the company even more. Google offers something called the death-benefits package, which goes directly to the family of the deceased. I guess you could view this as an alternative to life insurance but, in reality, there’s no replacement for the real thing, especially as we aren’t all lucky enough to be employed by a company like Google! If you’re in search of life insurance to give you peace of mind and the confidence that your family will be left in a good financial situation if the unthinkable happens to you, this policy may suit you so take a look and see what you think.

Should someone pass away while employed by Google, that person’s surviving spouse or domestic partner will receive a check for 50 percent of the deceased’s salary. And that spouse or domestic partner will receive that check every year. For the next decade…And any children of the decease, furthermore, will receive $1,000 a month from Google until age 19. Which gets amended to age 23 if those children are full-time students.

Um. Awesome. To read more about how Google is better than your workplace, click here.

I think that this is a wonderful idea. Losing someone you love is hard enough as it is, but having to think about how to support your family financially, without a second salary, is added pressure that you simply don’t need. Many thoughts may run through your mind. “Do I need to move to a home that is cheaper to afford?”, “Do I need to think about getting a second job?” Well, as Google has shown, the answer is no.

It sounds a bit like the social security benefits that you could be entitled to if you are married or have been widowed. But it is important to remember to have a look at the comparison between Social Security spousal benefits vs survivor benefits, to see how they are different. Spousal benefits are what you are entitled to if your partner is still alive, and survivor benefits are what you could receive if you have been widowed. Schemes like this, and the one that Google has implemented, can help people who have been left in an impossible situation to stay on their feet financially. I for one think it is great, and long may it continue.