If you’ve been injured in a crash, securing financial stability during your recovery is crucial. Richmond Central Physiotherapy, your trusted partner in health and wellness, is here to guide you through ICBC’s Income Replacement Benefit coverage.

Coverage Overview:

• The Income Replacement Benefit becomes accessible from the eighth day post-crash, assisting when injuries hinder your ability to continue employment.

• This benefit is supplementary to other wage loss benefits you may have, including employer plans or Employment Insurance. Initial application for these benefits is required, and subsequent calculations consider them.

• Eligibility extends to minors, students, and individuals aged 65 or over, employed at the time of the crash.

Calculation Details:

• Income Replacement Benefit is computed at 90% of your net income, deducting amounts payable from other sources.

• The calculation is based on a maximum yearly insurable income amount, set at $109,000 as of April 1, 2023. Special cases may warrant an alternative formula, with guidance available from our dedicated support and recovery specialist.

Optional Additional Coverage:

• For individuals earning beyond $109,000, an option exists to purchase supplemental coverage to enhance the Income Replacement Benefit. This applies even if you already have private income replacement coverage.

Key Points:

• Commencement of the Income Replacement Benefit is contingent on receiving income details from your employer or proof of income if you’re self-employed.

• The benefit is derived from your pre-crash income, supported by past income tax returns, pay stubs, and employer-provided information. Expected post-crash earnings may also be considered.

• Benefit payments are issued every 14 days, either by mail or direct deposit, until your eligibility ceases. This occurs when there’s no longer a medical impediment preventing your return to work.

• The benefit is calculated at 90% of your net income, adjusting for amounts payable from other sources, with a maximum yearly insurable income amount of $109,000 as of April 1, 2023.

Richmond Central Physiotherapy is committed to enhance your recovery journey. Now accepting ICBC customers who have been in a car accident.

*Disclaimer: The information provided here is based on the ICBC Enhanced Accident Benefits Guide. While we strive for accuracy, updates by ICBC may not be immediately reflected. For the latest information, refer directly to the official ICBC guide at ICBC Enhanced Accident Benefits Guide. Contact us for assistance, and our team at Richmond Central Physiotherapy will help you understand and navigate your ICBC benefits for a smoother recovery process.