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 by at least two insurance policies providing the same coverage for the same risk. ...
The surplus resulting from an additional amount of capital necessary to act as a supplement to the reserves in the event of unforeseen contingencies that would impair the insurance ...
Same as term Binder: temporary insurance contract providing coverage until a permanent policy is issued. In property and casualty insurance, some agents have authority to bind the insurance ...
Limiting provision. Exclusions listed in group health plans include: benefits under Workers Compensation; certain dental procedures; convalescent or rest cures; medical expenses resulting ...
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Endorsement to the special multiperil insurance (smp) policy that provides all risks damage coverage for personal property. There are special limitations on amounts of coverage for furs, ...
Statistics (such as health data from physical examination of employees or other insureds) used as a benchmark from which deviations and comparisons of expected losses, as well as future ...
Fund that contains the portion of the premium that has been paid in advance for insurance that has not yet been provided. For example, if a business pays an annual premium of $1000 on ...
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