Workers' Compensation Insurance

Workers’ Compensation Insurance

As we all know that there is Highly Global and Competitive Work environment in today’s time. So, Employees’ or Worker’s rights have also become important in this highly global work environment. . It is the Responsibility of every company to provide safe and healthy working atmosphere for its workers. Tax and also prefer to buy this Insurance policy to every working person because it is important for the life.

Workers’ Compensation Insurance is an insurance that provides benefits or wages to the worker’s or employees who suffer work-related injuries or illness. This Insurance policy helps pay for medical care, wages from lost work time and more. The Workmen Compensation Policy Includes following:-

·       Permanent and Total Disablement

·       Temporary Disablement

·       Hospital and Physician services

·       Prescription Drugs

·       Rehabilitation Drugs

·       Lost Wages

·       Legal Expenses

·       Death benefits for surviving family members.

The Insurer of the Insurance policy agrees to pay all benefits and compensation related to the insured worker’s state’s workers’ compensation laws without any regard to liability.

The Workmen Compensation Insurance Policy is also called ‘Employer’s Liability Insurance’ and ‘Employer’s Compensation Bill’. The Coverage of Worker’s Compensation insurance is mandated by each state and the wage and medical benefits vary by state and coverage premiums are based on the Employer’s payroll and the type of work or duties its Employer perform.

The Workmen Compensation Insurance Policy can be purchased by any worker, employer or contractor engaging in ‘workmen’ as defined in the Workmen Compensation Act to cover his Liability towards them as per the common law. Small Business and firms that work in risky industries must have Workmen Compensation Insurance.

Types of Workers’ Compensation Insurance

Workmen Compensation Insurance Policy usually helps employees or workers by covering following types of facilities:-

§  Medical Treatment

If any worker gets an illness or injury caused by their work, they can file a Workmen compensation claim to help pay for their medical treatment. Medical treatment includes pay for their:-

                 Ø  Doctor’s appointment

Ø  Hospital and emergency room visits

Ø  Medications

Ø  Therapy and Rehabilitation

Ø  Recover equipment 

§  Disability Benefits

 Disability benefits are for disable worker it means sometimes a work related injury can leave a worker disabled. Then that worker can claim for Disability benefits. Work- related disability usually falls on the following categories:-

Ø  Temporary Total Disability

Ø  Temporary Partial Disability

Ø  Permanent total Disability

Ø  Permanent Partial Disability 

§  Rehabilitation

This insurance Policy can help cover the worker’s ongoing care. This includes the ongoing physical therapy or vocational rehabilitation to help them learn new skills so that they can return to their work in a different role. Many Workers’ compensation programs offer two years of vocational rehabilitation.


§  Death and Funeral Services

If any employee loses their life because of a work- related illness or injury, Workmen compensation insurance policy provides benefits to their family and beneficiaries. These insurance benefits can help to cover funeral expenses and lost income. In mostly cases, these benefits go to immediate family members or dependents living with the deceased employee like their Children, Elderly parents and spouse.


Benefits of Workers’ compensation Insurance

The benefits of the Workmen Compensation Policy are generally awarded on a no-fault basis. Some Main Benefits of Buying this Policy are as follows:-

*     Legal Liability Coverage

*     Occupational Illness and conditions

*     Lost Wages Compensation

*     Vocational Rehabilitation Expenses

*     Special Add-on Covers

*     Comprehensive Inclusion