Avoids high legal fees. Working with a network lawyer, fees for covered services are 100 percent paid-in-full, with the lawyer generally offering reduced rates for any non-covered services.
Reduces the stress and time involved when dealing with a legal issue, including finding a suitable, affordable lawyer.
Access to online educational legal resources and tools allows many employees to handle minor matters on their own
Promotes employee's overall well-being by offering the ability to consult a lawyer regarding legal issues which, in turn, helps lower employee stress levels and lessen frustrations commonly associated with unwelcome legal situations
Having a choice in benefits - as well as a place to turn when needs arise are critical components of job satisfaction.
A robust benefits package - one that includes unique benefits that deal with common situations - can help reduce employee turnover.
Offering attractive benefits package, employers can gain a competitive edge over other companies, attracting the best candidates for hard-to-fill positions.
Legal plans give employees tools to handle life's legal events - thereby reducing stress and improving wellness.
Reduces absenteeism: 85 percent of ARAG plan members report they have the resources they need to avoid taking more time off work than necessary.
For instance, some ARAG legal plans give employees access to credit monitoring, identity theft restoration, internet surveillance, financial counsellors, tax services and caregiving services.
No two employees are exactly alike. In fact, the Australian workforce continues to become more diverse. And because each employee may be coming from a different background, culture, generation, country, etc. that makes being able to provide a more personalised benefits package very attractive to employees.
A study by The Australia Institute - Justice for All, found that 85 % of Australian employers believe voluntary benefits will be an important way to boost employee engagement and noted employee retention increased by 67%, along with a 21% increase in employee productivity. More and more employers are realising how appealing the emerging voluntary benefits such as legal insurance, Mental Health programs financial counselling are to employees. Not to mention they are appealing to employees.
One voluntary benefit that works for all employees: Legal expense insurance.
While some benefits (for example, gym membership or discounts on banking products or pet insurance) will be more useful to certain age groups or employees in certain life stages, there are a few that can be useful to all employees. Legal insurance is a benefit that supports every employee, no matter their age, relationship status or background.
Lawyers can be expensive. A lawyer has an average hourly rate of $600. When you consider that the average number of legal hours for something like buying or selling a house is six hours, the costs add up fast. But with ARAG legal insurance, legal fees are 100 percent paid in full for most covered matters when a plan member works with a network lawyer.
Many businesses are faced with regular legal challenges such as matters arising from employment, contract disputes, statutory licenses, compliance and regulation to name a few. Most will not uphold their rights due to the cost prohibitive nature of engaging lawyers.
That’s where LEI as an employee benefit will help businesses retain staff and generate loyalty. If your client’s business offers its employees legal protection, they are exhibiting to their workforce that they have their back and want to support them to pursue their rights.
In the current market, a LEI employee benefit can act as a differentiating factor to attract and retain good people.
By helping employees to insure against a major cost in life, organisations align themselves with their employee needs. But it is not only of great benefit to employees, there are also significant benefits that employers experience through offering LEI to their workforce.
In Australia it is estimated that work place stress costs the Australian economy $14.81 billion a year, which is on average about 3.2 days per worker lost annually. To help employees manage stress and improve their productivity, it is important to understand the reason that is contributing to the stress. When it comes to stress, whether it is caused by personal, medical or legal issues, much of it can be tracked to money and whether there is enough of it.
Having employee benefits improves productivity and reduces stress. Providing access to justice might just be the answer!
Employers can choose the type of LEI Employee Benefits Policy they prefer. A Master Policy can be voluntary or “gifted” by the employer and is supported through HR.
For more information on LEI Employee Benefits contact us at
ARAG Services Australia Pty Ltd (ABN 14 627 823 198) (ARAG) has been granted delegated authority by the Insurer to enter into, vary or cancel Policies and handle Claims on their behalf. In providing these services, ARAG acts on behalf of the Insurer and not as Your agent. ARAG is authorised to provide financial services in accordance with its Australian Financial Services Licence (AFS Licence number 513547). Any advice provided by ARAG in relation to this product is general in nature and does not take into account Your individual circumstances.
The Insurer is detailed in your policy documents.
All enquiries should be addressed to ARAG.
Any advice contained on this website is general advice only and has been prepared without considering your individual objectives, financial situation or needs. Before purchasing or renewing a product we recommend that you consider if it is suitable for your circumstances and read the policy terms and conditions.