What is Direct Compensation Insurance?
- Direct compensation insurance usually covers salary or any wages paid out, overtime, contracted hours, employees compensation payouts and payments for last minute work.
- Direct compensation insurance also covers payments for holiday and paid leave. This also covers, sick leave, bereavement leave, maternity and paternity leave.
- All types of bonuses are covered with direct compensation insurance. Bonuses for years of service and performance levels. Some companies provide bonuses during the holiday season as an incentive, this normally equates to one months wages.
- Direct compensation also covers travel expenses, food allowance and medical reimbursement.