Workmen Compensation Policy (Now known as Employees' Compensation Policy) cover Industrial Injury while on duty which provides benefit / compensation for Temporary/Permanent disablement or death benefit.
Under this Policy you can also cover hospitalisation expenses due to accident upto Rs.1 lakh with nominal additional premium. This benefit is started from April, 2015, earlier hospitalization expenses were not covered, therefore employers used to bear hospitalization expenses.
Mediclaim Policy covers only hospitalisation expenses during illness/accident as per coverage limit with so many clauses. such as caps, preexisting diseases, dental treatment, cosmetic surgery etc. but not any compensation.
Suresh