What is the wage loss benefit payment duration after an accident?

The wage loss benefit payment duration after an accident is typically until 65 years old. This aligns with the common retirement age in many jurisdictions and reflects the intention of the insurance system to provide support to individuals who are unable to work due to an accident until they reach a point where they would normally retire.

The rationale for this age limit also reflects an understanding of workforce participation; as individuals approach retirement, they may be less reliant on income from employment as opposed to retirement benefits. This benefit duration allows for a balance between supporting the individual following an accident while also recognizing the transition to retirement that typically occurs around that age.

In contrast, other age limits such as those set to 55, 60, or retirement age can vary significantly across different insurance policies or local regulations, but the standard practice often culminates around the age of 65 to align with societal norms regarding retirement.