Plan Details - Argus Bermuda
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Plan Details
Wage Replacement
Legislated:
Our standard plan provides two thirds of an employee's base salary per week, as required by Bermuda law.
Premium:
Our premium plan helps your business stay competitive with 75% coverage of an employee’s base salary.
Death Benefit
Paid to the employee’s legal personal representative, his dependents or other such person who may be appointed by the court following an employment-related fatal injury or occupational disease.
Argus Pays:
Actual earnings in the 3 years prior to the event or 3 years of the average annual per capita earnings, whichever is the lesser
Permanent Incapacity
Occurs when employment-related injury or disease results in 100% loss of earning capacity.
Argus Pays:
Benefits equal to the actual earnings of the employee in the 4 years prior to the incident or 4 years of Bermuda’s average annual per capita income, whichever is less.
Total Incapacity
Employment-related injury or disease that results in 100% loss of earning capacity and requires assistance with activities of daily living.
Argus Pays:
Similar to Total Incapacity, but additional benefits are paid to cover caregiver cost.
Partial Incapacity
Occurs when employment-related injury or disease permanently affects a percentage of earning capacity.
Argus Pays:
Similar to Total Incapacity, but benefits are proportionate to the degree that earning capacity is affected.
Temporary Incapacity
Occurs when employment-related injury or disease results in temporary loss of earning capacity.
Argus Pays:
A weekly wage replacement benefit for the length of time that the employee is unable to return to work for up to a maximum of 8 years..
Medical Aid
Coverage that is needed for medical costs incurred through employment-related injury or disease.
Argus Pays:
Related medical costs, integrated with Argus health insurance plan benefits.
Maximum Amount per Event
Financial limitation of payment for a specific event.
Argus Pays:
$5,000,000 in total under all sections of the policy.