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Wage Earners' Welfare Board (WEWB) has signed an agreement with Jiban Bima Corporation (JBC) to implement the mandatory insurance coverage of the migrant Bangladeshi workers from December 19.
WEWB director general Gazi Mohammad Julhash and JBC managing director Mohammad Mahfuzul Hoque signed the one-year deal on behalf of their organisations at Probashi Kallyan Bhaban in the capital on Wednesday.
State minister for Expatriates' Welfare and Overseas Employment Imran Ahmed was present at the signing ceremony as chief guest. He said the government would bring all the outbound workers under the insurance coverage to enhance their protection.
JBC chairman Dr Selina Afroz was the special guest of the event while officials were present.
Prime Minister Sheikh Hasina is scheduled to formally inaugurate the life insurance coverage in Dhaka on December 19 on the occasion of the International Migrants Day 2019.
Under the agreement on the pilot project to be supervised by the board, the workers will be offered two insurance products and the policies will be for a two-year term. However, the tenure could be extended if the job contract is extended.
The Policy One will be of Tk 200,000 with a one-time premium of Tk 990 and the Policy Two of Tk 500,000 with a one-time premium of Tk 2,475.
The workers will bear Tk 490 for the policy one and Tk 1,975 for the policy two while the WEWB will subsidise each premium by Tk 500 from its own fund.
The nominees will get 100 per cent benefit in case of any policyholder's death during the coverage period.
Besides, the workers will also get 100 per cent benefit in case of their eyesight, hands and legs are fully damaged. If these parts are damaged partially, they will be eligible for 50 to 10 per cent benefit depending on the degree of injuries.
Talking to the FE, head of BRAC migration programme Shariful Islam said that it is a good initiative as it will ensure increased security of the migrant workers. But the amount of benefit could be higher, he said, added that still it is possible to increase the benefit as it is a pilot project.
According to the data available with the Bureau of Manpower Employment and Training, an estimated 0.6 million workers go abroad from Bangladesh annually.
Since the year 1976, more than 12 million Bangladeshis have gone to different countries.