Question

1. Prior to the enactment of workers’ compensation laws, injured employees could choose not to pursue compensation, or they could file a lawsuit. List and briefly define the three common-law defenses that employers could mount to earn liability.
2. Briefly discuss the origins of disability insurance and workers’ compensation insurance programs in the US.
3. What are the main characteristics of long-term disability insurance?
4. Briefly discuss the three types of life insurance policies offered in the US.
5. Briefly discuss the types of disabilities recognized under workers' compensation laws.

Answer 1

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Answer 1 :

A common-law worker is someone appointed with an entrepreneur, with the owner holding significant power to regulate the employee's performance.

• Conventional, employers applied three common law defenses corresponding liability concerning injury over workers:
  • The fellow-servant rule: Following the fellow-servant rule, a worker that held wounded as a consequence regarding the execution of a fellow operator could not retrieve casualties of the worker.
  • Assumption of risk doctrine: The assumption of risk doctrine rendered that a worker that knew, preferentially should have acknowledged, regarding uncertain contingencies of profession considered the hazard through prevailing on the work.
  • Contributory negligence doctrine:  If a worker did harm within the carelessness from the owner disregarding happened slightly at a mistake, the worker was deprived of supportive heedlessness.

Answer 2 :

Disability insurance:

Disability Insurance also is known as DI or disability income insurance, or income protection is a scheme regarding coverage that protects the successor gained interest toward the opportunity that an incapacity constitutes a check as an operator to build the nucleus parties about their profession. For example, a single operator may sustain impotence to support stability in the status of subconscious complications or damage, disability, or position that induces bodily disablement either inability to manage.

Workers’ compensation insurance programs:

Workers' compensation also known as workers' comp (previously known as workmen's compensation) is a method of protection rendering earnings renewal including pharmaceutical compensations to workers harmed in the way of a profession in replacement concerning compulsory abandonment of the employee's power to claim his either her manager to the specific tort of negligence. These contracts-offs within confirmed, restrained analysis furthermore absence of appeal temporary the individual operator reward method is recognized as "the compensation bargain."

Answer 3 :

Long term disability insurance:

It refers to the insurance which provides cover to not only the employees engaged in dangerous tasks, but also to those who do normal work. Basically it is all related to providing insurance coverage to the employees so that they can deal with their disabilities in the longer period of time. A long term disability is something which lasts for more than 12 months and might result into death in future. This insurance helps to deal with such disabilities.

Following are the main characteristics of long term disability insurance:

• The employees covered under this insurance, gets around 50% of their salary during this disabled period, from their employers.
• The coverage of the policy is not cancellable and the policy cannot be stopped on its own, unless the policy holder stops paying the premium.
• In some cases, the employers pays half of the salary only up to the age of 65 years. Once the age exceeds, the benefits stops.
• Cases like cancer, mental illness, injuries, pregnancy & childbirth complications etc are all covered under this insurance.
• However, normal childbirth without any complications are not covered under this insurance policy.

With long term disability in hand, the policy holder gets many advantages and the hardships of facing the disability can be reduced by offering financial help to the policy holder.

Answer 4 :

Three types of life insurance policies offered in the US :

Term life insurance: Is the most fundamental, and frequently most economical, type of extra security for individuals under age 50. A term strategy is composed for a particular timeframe, ordinarily 1 to 10 years, and might be sustainable toward the finish of each term.

Whole life insurance:
Combines permanent protection with a savings component. Some portion of that exceptional gathers as money esteem. As the arrangement picks up esteem, you might have the option to acquire a bit of your approach's money esteem tax exempt, despite the fact that advances collect premium and diminish the strategy's demise advantage and money esteem, and may trigger an available occasion if the strategy slips.

Universal life insurance: Is like entire existence with the additional advantage of conceivably higher profit on the investment funds segment. Widespread life strategies are likewise progressively adaptable with respect to premiums and confront esteem. You may likewise have the alternative to change the sum you are guaranteed for, known as the face sum. All inclusive life arrangements regularly offer a guaranteed* return on money esteem.

Variable life insurance:  For the most part offers fixed premiums and the capacity to put your money esteem in a decision of stock, security, or currency showcase based speculation alternatives offered by your safety net provider. Money esteems and demise advantages can rise and fall dependent on the exhibition of your venture decisions.

Answer 5 :

Compensation law give the opportunity to get the benefit from the company. If he/she get disable during doing work. There are four types of disability recognize under the worker compensation law are:

• Temporary total disability
• Permanent total disability
• Temporary partial disability
• Permanent partial disability

1) Temporary total disability - In the temporary total disability, employee is not able to work and get disable. But, also employee is recovering and getting fit for his regular work duties.In this situation, employee is liable to worker compensation in his recovery period under the worker's compensation law . This is called a Temporary total disability.

2) Permanent total disability - When the employee suffered with permanent disability and not able to fulfill his work duties. Then the employee is liable to get the lifetime compensation or till the retirement age. This is called the Permanent total disability.

3) Temporary partial disability - When the employee get partial disable for sometimes. He/she is liable for the compensation. But because, he/she is not doing his duties. He may not get the full salary.

4) Permanent partial disability - In the Permanent partial disability, employee is able to return to his work. but also have some impartial disability. Under the worker compensation law. Employee is liable for the compensation. if he/she have a permanent partial disability. In this situation, employee can do the different duties/role in the organization.

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