Workers’ compensation insurance has been created to provide employees who get injured on the job compensation for their medical bills and lost wages. Several different types of benefits are available to provide injured workers with the benefits they need to make it through a difficult time. Other types of injuries warrant different types of benefits. In some cases, a Workers’ comp attorney may be needed to ensure an injured employee receives the kind of compensation for their needs. Let’s discuss the benefits of this insurance in detail.
Types of Income Benefits
Each level of benefits has different terms and conditions that must be met. Regular medical examinations will determine the level of compensation you need. For some, benefits are only required for a few months, while others may need compensation for the rest of their lives. If the person should pass away due to the injury, their family will receive their benefits.
- Temporary benefits
Temporary benefits only last a few months and cover medical expenses and lost wages. Usually, temporary benefits will last from three to six months. Although this benefit only pays a percentage of your full wages, it will pay for all your medical expenses. If a full recovery isn’t possible, the category of benefits may change from temporary to an impairment or supplemental benefits.
- Impairment benefits
Impairment benefits come into play when your injury causes you to lose your ability to perform the tasks associated with your previous job. This type of benefit will provide funding for additional training you may need to earn the same amount of money you did in your last job. The goal is to teach you a new skill so that you can return to work and earn a similar wage.
- Supplemental benefits
Supplemental benefits are meant to provide compensation if you can no longer work at the same job or if your injury prevents you from earning the same amount of money you did before being injured. The supplemental funds will make up for most of the wages you lost due to your injury.
- Lifetime income benefits
Lifetime income benefits will be paid either monthly or in a lump sum if your doctor states that you are completely disabled and unable to return to work. Once this determination is made, a settlement offer is made so that, if accepted, your case can be closed. Once the case is closed, it cannot be reopened for the same injury.
- Death benefits
A death benefit is compensation a loved one receives if an employee is killed on the job or dies from the injuries they received on the job. It may be paid to a person’s estate if they don’t have any family. This is normally a lump sum payment that is made once the cause of death has been determined.
Get the Most Out of Your Workers’ Compensation Insurance with J Archer Insurance Group
Workers’ compensation offers different levels of compensation for different degrees of injuries. Contact the agents at J. Archer Insurance Group to learn more about work-related injuries. We have the answers you need about workers’ comp insurance. Workers’ comp insurance is mandatory in almost every state in the country. You must be fully informed when it comes to being protected at work.