That's the whole thing. For my part I know a Ryanair FO who broke is leg during the inspection of the A/C, unable to fly during 3 month, during those 3 month he has received is full basic salary and an average of his sector pay.
And if you have something happening outside your duty you have the "irish social security" who take care of your salary, and the "medical" insurance (where you live) who take care of the medical cost.