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
Representative of an insurance company in soliciting and servicing policyholders. An agent's knowledge concerning an insurance transaction is said to be the knowledge of the insurance ...
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Present value of a series of payments such that the first payment is due one period hence, the second payment two periods hence, and so forth. The continued payment is contingent upon the ...
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part of the Model Uniform Life and Health Insurance Policy Provisions Law giving an insurer a time limit on contesting coverage for preexisting conditions or misrepresentation. This law, ...
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Allocation of monetary resources to equities. ...
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