In workers’ compensation cases, indemnity payments to compensate an injured worker for impairment from an industrial injury or illness that lessens the worker’s ability to compete in the open labor market. It is not intended to replace wages or to compensate for pain and suffering.
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permanent disability rating
In workers’ compensation cases, determination of the percentage of total disability of the injured worker. Considerations are the nature of the injury, occupation and age of the worker at the time of injury, and diminished ability to compete in the open labor market. The disability, not the pathological condition, is rated; thus a disease is not rated, but its permanent effect on the employee’s working capability is.
Permanent Health Insurance
This Insurance provides a weekly benefit in the event of disability from following any occupation, caused by accident or sickness. Payment of benefit maybe deferred for an agreed period, if required, but must continue to be paid up to a certain age limit provided the Policy is maintained by the insured until that time.
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See: INCOME PROTECTION.
Permanent health insurance (PHI)
insurance, on a group or individual basis, having a duration of at least five years and providing a benefit of a fixed amount or proportion of earnings for individuals prevented from working by sickness, accident etc.
Permanent impairment
In workers’ compensation, a disability that has become stable during a time period that allows optimal tissue repair but is not likely to change regardless of further therapy or surgery.
Permanent insurance
Life insurance policy that is valid for the entire life of the insured.
Permanent life insurance
Any form of life insurance except term insurance (i.e., whole life or endowment).
Permanent life insurance (Life Insurance)
A broad term for any kind of life insurance other than group or term policies.
Permanent Lok Adalat for “Insurance Service” (Lok Adalat)
By amendment of 2002 called “Legal services Authorities (Amendment) Act, Permanent Lok Adalat have to be established to cover “Insurance Service” and “Public Utility Service.” Lok Adalat is an alternative forum where cases can be compromised by both the parties with the intervention of the member Judges. They have jurisdiction to determine and arrive at a compromise settlement between the parties to a dispute, in respect of any case pending before or any matter falling within the jurisdiction of and not brought before any court, for which the Lok Adalat is organized. The Award of the Lok Adalat is at par with the decree of a Civil Court and is final and binding on all the parties to he dispute and no appeal lies in any Court against the Award.
Permanent partial disability (Health Insurance/Workers Compensation)
A disability the insured is impaired by, but not totally incapacitated by. The insured is still able to work in some capacity.