Workmen's Compensation Insurance is a crucial policy designed to protect employees who suffer injuries or illnesses arising from their work-related activities. It provides compensation for medical expenses, lost wages, and other benefits to workers who are injured on the job or develop work-related health conditions. This type of insurance ensures that employees are taken care of in case of workplace accidents, while also shielding employers from legal and financial liabilities.
Covers the costs of medical treatment required due to workplace injuries or illnesses. This includes hospital bills, doctor’s fees, surgeries, medication, and rehabilitation.
If an employee is unable to work due to a workplace injury, the policy compensates for a portion of their lost wages during the recovery period.
In case of a permanent or temporary disability, workers are entitled to compensation based on the severity of the injury. This may include a lump sum or periodic payments. If an employee dies due to a work-related injury or illness, the insurance provides financial support to the deceased worker's family or dependents.