Workmen Compensation Insurance Policy

  • Buy Workmen Compensation insurance policy in India

Workmen’s  Compensation  Insurance Policy  offers  monetary  compensation  to  the  employees  in  case  of  medical emergencies  during  their  employment  period.  This  policy  can  be  issued  even  to  the  employees  who  do not fall in the scope of Workmen’s Compensation Act, 1923, and subsequent amendments thereto The  policy  covers  statutory  Liability  of  an  employer  for  the  death  of  or  bodily  injuries  or  occupational diseases sustained by workmen in the Insured’s immediate service and arising out of and in the course of employment. The  workmen’s  compensation  insurance  is  the  primary  method  by  which  an  employer  can  demonstrate the  ability  to  satisfy  the  obligations  imposed  by  the  worker’s compensation policy.  It is insurance for workers payable under a scheme set out in the Workmen’s Compensation Act of India, monitored by the Ministry of Labour.

The policy covers legal Liability of an employer under:

  • Workmen’s Compensation Act, 1923, and Subsequent amendments of the said Act prior to the date of issue of the policy
  • Indian Fatal Accidents Act, 1855, and Subsequent amendments of the said Act prior to the date of issue of the policy
  • Common Law

Key Benefits

  • Accidental Death & Disability Cover
  • Permanent Partial Disability
  • Weekly Compensation cover
  • Accidental Medical Expenses
  • Compensation Amount related to Salary
  • Occupational Diseases
  • Unnamed Policy (Workers)

Exclusions

  • If the appropriate waiver is not opted for, then the policy will not cover:
  • Treatment of pre-existing illnesses
  • Any treatment for illnesses/diseases within the first 30 days of the policy, unless due to an accident
  • Treatment of specified illnesses for the first year of the policy
  • Certain diseases like hernia, cataract, piles, sinusitis etc are excluded during the first year of operation of insurance cover
  • Any claim arising out of or traceable to pregnancy
  • Ayurvedic, Homoeopathy, Naturopathy or any other form of local medication
  • Alcoholism, drug abuse and AIDS
  • Dental treatment or surgery, unless requiring hospitalisation  Cost of spectacles,
  • Vaccination and inoculation
  • Cosmetic treatment

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