Generally loss of pay coverage will works in PA policy (personal accident) very few insurance company are paying under Health to retain or to enter into new business.
Loss of pay- if any employee / insured met with an accident and they need to take bed rest say for few months. Ofcourse in any organisation casual leave and sick leave will be restricted to minimum period (for eg 30 & 30 respectively). Even after availing (eg 60 days) leave benefit and further need to take rest at home as per doctor advice then employee has to face loss of pay. This benefit will trigger now to compensate loss of pay with maximum 104 weeks.
Arun Ragavendran
Insurance consultant
Bangalore
