Temporary Disability Benefits
Income paid to a worker who is temporarily disabled by an injury or sickness that is not work related. Compare with workers compensation benefits, which are available only to workers injured on the job. And unemployment benefits are available only to those who are able to work. Temporary disability benefits fill in for those who cannot work because of illness and who were not injured on the job. After a waiting period that is typically about a week, the disabled worker is paid a weekly income. Temporary disability benefits may come from a group benefit plan, from a union medical plan, or, in some cases, from a state insurance fund. Five states have temporary disability plans: California, Hawaii, New Jersey, New York, and Rhode Island.
Popular Insurance Terms
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Percentage of life insurance or other insurance policies remaining in force; percentage of policies that have not lapsed. The higher the percentage, the greater the persistency. Since it is ...
Payments from an employee's employee benefit insurance plan that can be rolled over to an individual retirement account (IRA) or to another plan maintained by the employer that accepts ...
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Provision of a reinsurance contract that states that the reinsurance company remains liable for its predetermined share of a claim submitted by an insured, even though the primary insurance ...
Life or health insurance policy written on an applicant who has passed a medical examination and signed the application but has not paid the premium due. ...
Account that is similar in form to the health plan flexible spending account (FSA) with contributions to this account used to reimburse employees who are parents for expenses at a ...
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