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Sep 2020

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Bangladesh: Insurance to be mandatory for outbound migrant workers

Source: Asia Insurance Review | Jan 2020

The government has decided to enforce mandatory insurance coverage for Bangladeshi migrant workers, according to the Expatriates Welfare and Overseas Employment Ministry.
 
To this end, the Wage Earners’ Welfare Board (WEWB) has signed an agreement with Jiban Bima Corporation to carry out a pilot scheme with effect from 19 December 2019.
 
Workers can decide between two plans, both for a two-year term that can be extended for longer job contracts, reported New Age. The insurance covers accidental death or disability. Policy One offers coverage of BDT200,000 ($2,357) at a premium of BDT990 and Policy Two offers coverage of BDT500,000 at a premium of BDTT2,475. WEWB provides a subsidy of BDT500 for the plans.
 
According to official data, an estimated 0.6m workers head abroad from Bangladesh annually. A 
 
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