Insurance against Short Term and Permanent Partial Disability

There are some kinds of physical illnesses that even caution and conservativeness cannot prevent. If an employee were to fall severely ill in the due course of a job, then the security that he/she would still have an income would be of extreme importance, owing to the fact that they would not be able to earn in that specific short term.

This is where short term disability insurance kicks in. It is a hedge against an employee's shelf life where he still has a source of income in case he is rendered incapable due to an accident or a physical ailment. Under this insurance, a fixed percentage of the employee's salary is paid for a certain amount of time, in case he/she is fit to perform the duties of the job.

Short term is defined as a period starting from 1 day to anywhere till 14 days. When the illness lasts longer, then short-term disability is acknowledged and the employee is paid accordingly. It must however be differentiated from an injury. The policy for a physical injury varies from that of a short-term illness.

Short-term disability is different than permanent partial disability which causes a person to lose his body parts completely or partially or lose the functioning of a specific body part, or loses partial functioning of his entire body as a whole. This is a rather misfortunate event and differs from short-term disability as the employee is rendered incapable to work for good, in most of the cases.

These are two different kinds of occurrences that the policy insures you from.

In case of a permanent disability, the insurance cover pays certain amount of sum to the employee. The extent of this depends on how grave the injury is. The following are the percentage of salary compensation to the employees who suffer with permanent disability.

In case of loss of permanent functioning and use of both the hands from the wrist joint, the employee is compensated with 100% of the income.

A complete permanent loss of functioning of both the feet beginning from the ankle joint will render the employee a compensation of 100% of the income.

The permanent and entire loss of the functioning of one hand from the wrist joint and one of the foot, right the ankle joint will render the employee to receive 100% of his/her income.

When the employee's one hand stops functioning and his eyesight is also lost, then also he is compensated with 100% of his income.

In case of permanent loss of speech and entire loss of hearing, or the occurrence of Quadriplegia, the employee receives 100% of his income.

Permanent Partial Disability (PPD): Maxbupa permanent partial disability plan will pay up to 100% of sum assured towards the treatment. For more about imformation. Please visit our site: Maxbupa.com.