Any member, who is entitled to benefits under this act for any wound, injury, disease or illness, and who incurs a permanent disability therefrom shall receive compensation as provided in this section. Entitlement to compensation under this section shall commence at the conclusion of the period specified in Kan. Stat. Ann. §§ 48-266 and continue so long as such permanent disability exists. The monthly benefit under this section for total or one hundred percent (100%) disability shall be one hundred twenty dollars ($120) plus twelve and one-half percent (12?1/2%) of the monthly basic pay of the grade or rank held by the member at the time entitlement under this act accrued. The monthly benefit under this section for less than one hundred percent (100%) disability shall be a percent of the amount payable for total disability that is equal to the percent of disability that the member is sustaining. Entitlement under this section and the amount thereof shall be determined by the military disability board. The board shall annually review each award under this section and determine whether it shall continue unchanged, be reduced, be increased or be terminated.