what is payout of accured time from your employer?

Question

what is wage loss compensation, what is the difference between longterm disability, social security disability insurance and social security insurance

Answer 1

Payout of accrued time generally means payment for something like vacation time that you have coming, but aren't taking.

Wage loss compensation is a general term that means you aren't going to be getting your regular wages, but will get some money from someplace else to make up for it.

Long term disability means that you will be unable to work for an extended period. There is something called long term disability INSURANCE, which is a policy that will pay you money while you are unable to work - this could be either something you got yourself or something through your employer. You might or might not have such a policy.

Don't know exactly what you mean by social security insurance or where you heard the term. Having SS disability insurance means that you have worked long enough under ss to be covered if you become long term disabled. You'd apply to ss, then if they determine that you meet the requirements to get it, you'd get paid some amount per month for as long as you're disabled or until you meet normal retirement age at which point you'd be switched over to regular social security benefits.