The benefits of New India Assurance Workmen’s compensation policy are mentioned below:
The New India Assurance’s Workmen compensation policy provides legal liability coverage to the employer in case of injury of workmen at the workplace or during the course of employment. The legal coverage would also be applicable to the settlement of claims as a result of litigation.
The other benefit of New India assurance workmen compensation policy is the hassle free claim settlement facility in case of injury of the workmen leading to death of disability.
The other major benefit of New India Assurance Workmen compensation policy is the disability coverage to the injured workmen at the workplace or during the course of employment. The disability coverage includes the permanent total disability, permanent partial disability and temporary total disability.
The other advantage of the New India Assurance’s Workmen compensation policy is the ease of availability of the policy. The policy can be purchased from any of the offices of the New India Assurance company located all over India.
Yes it is mandatory to take Workmen compensation policy for any company having more than 20 employees as per the Workmen compensation act, 1923. It is advisable to take a workmen compensation policy even if the workmen strength is less than 20 as to cover the liability under the Fatal Accidents Act, 1855 and Common law. The liability of the employer would be unlimited under the Common law and it is advisable to take the Workmen compensation policy which has coverage under Table B.
Yes. Contractual employees can be covered under the Workmen compensation policy subject to the same being mentioned in the proposal form at the time of taking the policy. The number of employees and their wages should be clearly mentioned in the proposal form which forms the basis of calculating the premium under the Workmen compensation policy.
The medical expenses incurred by the workmen due to an injury at the workplace or during the course of employment would be covered under the Workmen compensation policy. The limit of coverage under the Workmen compensation policy would be specified in the policy copy. The medical expenses for hospitalization due to an accident or illness are covered under the workmen compensation policy. The claim can be made on a cashless basis as well as reimbursement basis.