What is the PTD Full Form in Insurance?
PTD Full Form in Insurance is Permanent Total Disability. It refers to the insurance benefits that are offered to the employees who are permanently or completely disabled from a injury related to work. If an employee is deemed to be completely incapable of working again, then they would qualify for PTD compensation.
When can a person qualify for PTD?
An employee can qualify for PTD insurance if they have permanently lost the use of both their hands, feet, arms, eyes, legs, or a combination of any of these two organs. If a person is completely incapable of performing any employable work, then he would be categorized as PTD. The PTD benefits would generally last until the employee passes away. At times, it could be handled as a one-time settlement as well.
Standards of Permanent Total Disability:
PTD status would be awarded depending on whether the worker would be able to perform a job on the basis of their training, education, and experience. If these background qualifications are not enough for them to be able to perform their job, then they would be eligible for PTD. For example, if an employee loses both his arms while working in the construction sector, they would qualify for PTD benefits.