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Migrant Workers Insurance Claims Reach Tk 372 Million

Industry: Financial, Insurance, Migration, SDG
Company: Jiban Bima Corporation
Company Intelligence Tag: Business Insights

Official data reveals that beneficiaries under the mandatory insurance coverage for outbound migrant workers received Tk 372 million in claims until June this year. The insurance, introduced in 2019 through Jiban Bima Corporation (JBC), aims to provide financial protection to migrant workers and their families in case of death or disability. Over 2.5 million outbound workers are currently covered, with the benefit increased to Tk 1.0 million from Tk 400,000 and a policy duration of five years. Workers who return within six months of migration receive Tk 50,000. The policyholder’s family receives 100% benefit in case of death during the coverage period or accidental death within 90 days after the policy expires. Partial damages entitle the policyholders to 10-100% benefit based on the degree of injury.

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