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Top 4 Things You Need to Know About Income Replacement Insurances

Income Replacement | Gaylord & Nantais Workers Comp Law Firm

If you’ve ever worked for a company with workers’ compensation insurance, you probably already know how helpful it can be. Even though the program has many benefits, the main focus is on how much money you can get if you get hurt and can’t work. Someone who has been hurt and doesn’t know how they will pay their bills needs to know what income replacement insurance they will get.

In this post, we will discuss the four most crucial aspects of workers’ compensation insurance that you need to be aware of to replace any income that you may have lost.

What is Income Replacement Insurance?

Workers’ comp is essential because it helps make up for lost wages. When a worker has an injury on the job, having workers’ compensation insurance enables them to maintain their financial obligations even when they are unable to work.

Income Replacement can pay out all at once or over time. They will eventually become accustomed to paying their mortgage, rent, utility bills, and other necessary bills.

For workers to get benefits that replace their income, they must have a valid workers’ compensation claim. They also have to show how much money their injuries cost them.

  • Workers can only get so much in benefits to make up for lost income. The amount depends on the worker’s payment and where they live.
  • In 2016, about 3 million workers filed for workers’ compensation, according to the U.S. Department of Labor. About 2.5 million of these workers got income replacement benefits.
  • The average weekly benefit for workers with insurance to replace their income was $1,064. On average, help was worth $747. It means that half of the workers who got gifts to replace their income got less than $747 a week, and the other half got more than $747 a week.

Workers’ comp has kinds of insurance to replace lost wages.

Through workers’ compensation insurance, four main types of benefits can help replace lost income. These things are:

  • Employees who are hurt or sick and can’t work are given Temporary Total Disability (TTD) benefits. These benefits are based on how much the worker makes on average each week.
  • Temporary partial disability (TPD) benefits are given to workers who can return to work but can’t make their total wages because of an illness or injury. These benefits depend on how much a worker makes above or below their average weekly wage.
  • Permanent total disability (PTD) benefits are given to workers who are permanently disabled and can never work again. These benefits are based on how much the worker makes on average each week.
  • Permanent Partial Disability (PPD) benefits are given to workers who have a permanent disability but can still return to work. These benefits depend on how bad the worker’s disability is and how much money they make each week on average.

Top four things you should do to make sure you have the right workers’ comp insurance plan

  1. Make sure you know all the benefits of workers’ compensation. These benefits can include insurance to replace lost income, help with medical costs, and money to cover funeral costs.
  1. Make sure you know what your rights and responsibilities are when it comes to workers’ compensation. You should know what coverage you are eligible for and how to file a claim if necessary.
  1. It’s essential to have a plan in case you get hurt. This plan should tell you who to call for help, what medical care you need, and how you will pay for your living expenses while you can’t work.
  1. Make sure you keep accurate records of any injuries and medical care you get. You will need this paperwork if you need to file a claim or appeal a decision made by the workers’ compensation insurance company.

Contact Us At Gaylord and Nantais Workers’ Comp Lawyers

Even if you can’t go back to work right away, you may be able to get benefits. Workers who get hurt on the job in California can get up to two-thirds of their average weekly wage if they can’t go back to work. Get in touch with us immediately if you were hurt at work and want to know if you can get insurance benefits to replace your lost income. At Gaylord and Nantais Workers’ Comp, we’ve been helping injured workers get their insurance benefits for over 20 years. We will do everything we can to ensure you get all the benefits you are legally entitled to. Call us at (805) 800-8799 NOW.


Picture of Thomas M. Nantais

Thomas M. Nantais

Thomas M. Nantais is the Partner of Gaylord & Nantais, a legal firm specializing in workers’ compensation, in the state of California. This firm deals in getting hearing loss compensation and work related injuries compensation for those who have worked in the state of California. With his sincere efforts, Thomas is committed to meet the highest standards of the legal industry, and aims to provide the clients with an honest and aggressive representation.

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