Any words of caution?
Don’t focus solely on an extra benefit’s price. Accident coverage that only costs a few dollars each pay period may not be worth it if it doesn’t provide a lot of money when you need it.
Think about your needs. Accident coverage, which would help with an emergency room bill, may be appropriate for a family with young children. Critical illness coverage may be better for a middle-age employee saving for retirement and worried about being ruined financially by medical bills.
Consider, too, what you give up in order to buy an extra benefit. Buying pet insurance and accident coverage could mean investing less in a retirement plan.
Don’t feel pressured into signing up for all the extra benefits during your company’s open enrollment window. Those not tied to health care could be available at other times of the year.