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Workmen Compensation insurance
Buy all kind of Insurance Plans at a Single PlatformEnsuring your Workers on Worksite in Convinent Way
About Workmen Compensation insurance?
Injuries in the workplace occur even in the safest workplaces. Even if your employee has health insurance, you are responsible for your medical costs if you suffer a work-related injury or illness. In addition, the worker is entitled to a percentage of his regular salary during the time he cannot work due to his injury or illness. These costs are covered by workers' compensation insurance. If you do not have insurance, you will have to pay these out-of-pocket costs.
Why need Workmen Compensation insurance?
If a worker suffers an injury, workers' compensation coverage gives you and your employees important protection. Workers' compensation coverage is an insurance program required by the state that covers lost wages and medical treatment resulting from an injury or illness related to an employee's work. It also covers the services needed to help an employee recover and return to work. Worker's compensation insurance protects your employees and your company against work accidents, illnesses, and even death.
Benefits of a Workmen Compensation insurance
How to choose the Best Workmen Compensation insurance
The cost of workers' compensation insurance is paid by the employer. Unlike other types of insurance for employees, such as health insurance, the cost of workers' compensation is not shared between the employer and the employee.
While the employer must bear the cost of workers' compensation insurance, consider what would happen if your company was not insured. It is likely that you will still be required, under state law, to cover your employee's medical costs and loss of wages in the event of a work-related accident, illness or death.
Injured workers and compensation are one of the major liabilities issues for any organization in India. You need to be confident about your insurance policy, the maximum cover they will provide and what is the maximum term for that.
