HOW TO CHOOSE THE RIGHT WORKMEN COMPENSATION POLICY

One can never predict the future and accidents can happen anytime such is also true in the workplace as it can get very busy and one can get hurt if they are not careful. But how can one remain insured if something were to happen which could cause one to have a heavy financial burden in their life? To protect them in such cases the government brought many policies that ensure that one gets proper care and support if one were to get injured in the work environment as called as workmen compensation policy. Here we are going to look at various benefits of workmen's compensation policy and how one can choose the right one.

 

Workmen Compensation Policy

Workmen Compensation Policy was made by the government by passing the Worker or Employee Compensation Act in 1923 and the Accidental Protection Act. This provides all the workers in an organization the protection act against any accidental damage which can lead to serious physical injuries and huge financial losses for one life. Every employer needs to provide their workers with a workmen's insurance policy as it is mandated by the government and the common law.

 

Benefits of Workmen/Workers Compensation Policy:

One can never know what can happen at their workplace in the future even if they are careful. Many times people have suffered serious physical harm and financial losses if they get injured on the job or workplace. Looking at such government has mandated employers to provide their employees with a workmen insurance plan that can help them cover their losses and also help them recover. Following are the benefits of the workmen compensation policy that one is entitled to in case there is an unforeseen accident:

1. Accidental cover: One is entitled to any losses due to any accident that can result in physical injury and financial losses in the workplace. By getting workmen insurance policy employers can remain protected from any losses as well. 

2. Medical cover: Employers can protect themselves and their employees from paying any costly medical bills by getting workmen compensation policy. This can help them mitigate any worry about getting treatment as well.

3. Sickness cover: Employees can catch diseases or get illnesses at the workplace which can be bad for their health. They can get proper treatment without worrying about any financial losses as it is covered by the workmen insurance plan.

4. Disability benefits: Sometimes one can get seriously injured in the workplace which can result in partial or permanent disability. One can get compensation for such cases from the employer through the workmen compensation policy.

5. Death compensation: In the tragic event of death of the employee due to any work-related reason his family is entitled to compensation as per the insurance policy gotten by the employer.

6. Rehabilitation cover: If the employee needs rehabilitation after any injury that has happened due to any work-related issues and they may require getting physical therapy to recover then they can get complete coverage for that through the workmen compensation policy.

 

How to Choose the Right Workmen's Compensation Policy

Selecting a workmen's compensation policy requires careful consideration. Here are key points to keep in mind when choosing your workmen's compensation policy:

1. Protection against legal liability: Ensure the policy offers protection in case of legal damages or fees. Verify the presence of legal liability coverage before finalizing your workmen's compensation policy.

2. Lost income protection: Some policies require employers to compensate seriously injured employees, resulting in income loss. Thoroughly review the lost income coverage for employees and associated costs before making your policy selection.

3. Special covers: Check for any additional special covers included in the workmen's compensation policy, such as disability cover, third-party accident coverage, sickness cover, and more.

4. Full inclusion of all employees: Verify that the policy provides coverage for all employees. Ensure that every employee is adequately covered under the workmen's compensation policy you choose.

 

Conclusion:

One can never know what can happen at work in the future even after taking all the precautions but one can always remain prepared for it by getting a workmen's compensation policy that can mitigate any financial losses that may come with them. Now one can easily get a workmen's insurance plan online in just a few easy steps from Quickinsure by visiting their official website- https://quickinsure.co.in/ and compare various insurance plans and get the one that meets all their requirements.

 

FAQs:

1. Why must employers have a workmen's compensation policy?

Employers are required to have a workmen's compensation policy as mandated by the government through the Workmen's Compensation Act and Accidental Protection Act to protect employees from significant financial losses.

2. Can workmen insurance plans be purchased online?

Yes, workmen insurance plans can be purchased online.

3. Where can one buy a workmen insurance plan?

You can easily visit Quickinsure official website- https://quickinsure.co.in/ and compare various available plans and get the one that suits them better.

4. How long does it take to process a claim for a workmen's insurance policy?

On average, a claim should be settled within 30 days of the claim request.