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Benefits Usually Provided by Drilling Companies

In addition to a competitive salary, drilling companies usually provide to their employees a host of benefits designed to make their employment as lucrative and risk free as possible. Some of the benefits usually covered by drilling companies are provided below:

Life and Accidental Death and Dismemberment Insurance

This policy is usually two times annual salary and offers the immediate kin of the rig worker some cash relief in case of accidental death or dismemberment on board the rig. It is a form of acknowledgement that rig workers are employed in a fairly risky profession so this policy aims to take some of the risk away for their families. Some companies allow employees to opt for an additional amount up to 5 to 10 times their salary but would require that the employees pay the additional premium.

Dependent Life Insurance

Another insurance policy frequently provided by Drilling Companies is Dependent Life Insurance, which covers your spouse or your child. In the event of the demise of your dependent, you will receive a sum of money to help with all the funeral arrangements and burial expenses.

Short and Long Term Disability Insurance

Working on an oil rig can result in injury or disability which prevents the worker from returning to the job for brief or extended period. This insurance policy protects the worker and his family from the loss of income that would occur during this time either wholly or partially.

Medical, Dental and Prescription Drug Coverage

Medical and dental care costs are huge overseas and most hospitals will not even examine you unless you are covered by a health care insurance plan. All reputed oil-drilling companies provide their employees excellent medical and dental coverage. In most cases, they also cover any prescription drugs required by the worker or his family.

Voluntary Vision Coverage and Safety Eyewear Coverage

Recognizing that rig workers may face injuries affecting their eyes during the course of their work some drilling companies offer their employees the option to apply for voluntary vision coverage through a network of service providers. Other companies may extend prescription safety glasses at a very nominal rate to protect the vision of their employees.

In additional to all these benefits, drilling companies very often offer a specialized set of benefits to non US citizens who work with their organization in different parts of the world.

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