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
Coverage for a mortgagee where real or personal property, used as security for a loan, is damaged or destroyed. For example, a bank (mortgagee) lends money to an individual (mortgagor) who ...
Method of calculating the primary insurance amount (PIA) for Social Security benefits. Employees' covered monthly earnings are adjusted to reflect changes in the national average annual ...
Trade association located in New York City, consisting of approximately 200 captive insurance companies. The objective of the association is to further the common interests of its members. ...
Insured losses that have occurred but have not been reported to a primary insurance company. These types of claims have a tremendous effect on a reinsurance treaty, which may be showing a ...
Monetary guarantee that an individual released from jail will be present in court at the appointed time. If the individual is not present in court at that time, the monetary value of the ...
Elements common to all life insurance policies. While state insurance laws do not prescribe the exact words that must be in a life insurance policy, certain standard provisions must be ...
Minimum degree of injury or loss for which an injured party can sue, even though covered by no fault automobile insurance. Traditionally, an accident victim had to prove the other driver ...
Life insurance and long-term disability income insurance on major employees, with benefits payable to the business. Key person insurance has these advantages: enhances the ability of the ...
Health plan that pays a flat fee for each patient it covers. ...
Have a question or comment?
We're here to help.