No one wants to be involved in any work-related injuries. But it could not be avoided. If you are injured in work, you should be aware of the various type of workers compensation benefits. Just remember though that not all the compensation benefits mentioned here are the same in all localities. Make sure that you inquire with a professional lawyer first about the benefits and if you are entitled to them. Having a lawyer explain all of this to you could help you not only financially but also to plan out the next stage of your life, especially if the injury caused you and your family considerable inconvenience.
Time Loss Compensation
Time Loss Compensation is compensation benefits for the amount of time you lost for not being able to work because of your injuries. The amount of compensation workers will receive varies. It is determined by the percentage of the wages that you are receiving the day of your injury. In some areas the contribution by your employer to your employee benefits is included in the computation. This kind of compensation is paid either bi-monthly, once a month or once a week.
Loss of Earning Power
This type of benefit is not that common since not all municipalities offer this. This benefit is for those workers who returned to work but in a job that is on a lower pay grade. The compensation for this type of benefit includes the difference of amount in the previous salary to the wage you will receive on the new job.
Weekly Permanent Disability Payments
If you become disabled, you can get regular weekly permanent disability benefits, or you could choose instead to get the payment in a lump sum. As for the computation for the weekly benefits, it would depend on how disabled you are and your pre-injury average weekly earnings or PIAWE while in the line of duty.
Permanent Disability Pension
Permanent Disability Pension is also called life pension and is given to workers who have become permanently disabled because of their work-related injury. This pension is given to those who could not continue with the employment not only because of the injury but also if they have contracted an illness or disease because of their work.
The compensation is also computed based on the percentage of the worker’s wage. The pension could also be paid once a month, twice a month or once a week. This depends on the laws of the areas where the company is situated. In some areas, even if the disabled person died, their spouse or any living next of kin would still receive the benefits.
Not everyone is comfortable making their selves knowledgeable about these types of benefits because it might mean they are expecting that they’d be injured in the future. But preparing yourself for any possibility would ensure that you are not getting the short end of the stick when and if you got injured.