Business Desk :
The government is considering doubling the benefit on mandatory insurance coverage and enhancing other facilities for migrant workers leaving.
Currently, a worker receives Tk4 lakh from their policy with a premium of a single installment of Tk490 for a two-year term, officials said.
The workers and their families will get the money in case of disability or death.
A senior official at the Wage Earners’ Welfare Board (WEWB) spoke about the possibility of increasing the benefit amount to Tk10 lakh.
The duration of the policy will be 5-7 years.
On the other hand, the authorities are bringing the workers, who are coming back home with illness, under the insurance coverage.
The WEWB introduced mandatory insurance coverage to ensure the financial protection of migrant workers with benefits in case of their disability or death.
It signed an agreement with the Jiban Bima Corporation (JBC) to implement the coverage from 19 December 2019.
However, the deal will expire this December.
The WEWB seeks to bring more beneficiaries under the program.
Migrant workers have received an estimated Tk6.4 crore against their claims in the last three years.
The total insurance premium counted Tk81.2 crore during the period, according to official data.
The JBC settled insurance claims made by 210 outbound workers during the December 2019-June 2022 period.
An estimated 1.4 million workers have come under the mandatory insurance coverage since its inception, discloses the data.
According to the Bureau of Manpower Employment and Training, 600,000-700,000 workers go abroad from Bangladesh annually.
WEWB data shows that the country receives 3,000-4,000 dead bodies of migrant workers every year.
The nominee will get 100% benefit in case of the death of a policyholder during the coverage period.
Besides, the workers will also get 100% benefit if their eyesight, hands and legs are fully damaged.
In case of partial damage, the policyholders will be eligible for 50-100% benefit depending on the degree of their injuries.
Overseas job seekers aged between 18 and 58 are eligible for insurance policies.
