Maritime Insurance Law

Maritime Life Insurance

Maritime life insurance is a comprehensive public insurance system which provides the mariners with the insurance benefits on event of sickness, injury, childbirth, death, unemployment and vocational training. This also covers the incidents of occupational disability death and missing persons.

The family members of the insured mariners can benefit during events of sickness, injury, childbirth death and other such happenings. A captain or a crew member on board a certain ship specified by law should be under the insurance system.

It is possible to apply for continuous coverage on a voluntary status when retiring under the insurance for at least 2 consecutive months and this coverage is only for the sickness and injury purposes. The benefits paid by the mariners insurance cover the non-occupational and occupational incidents and also cover unemployment, accidents while commuting.

When the insured or their dependants become sick or injured additional benefits can be sought for medical treatment provided under the insurance. Sickness and Injury Allowance is also offered on account of not being able to work due to medical treatment for accidents and injuries.

A disability allowance or pension is also possible in case of sickness or injury on job or while commuting leading to a certain level of disability. The allowance is based on the level of disability.

In case of severely disabled people, they become eligible for a lump sum of disability allowance. On account of death of an insured person or formally insured person due to occupational sickness or accident or injury then the dependent family members can receive the survivor’s pension.

The eligible family members are the deceased person's spouse, children, parents, grand children, grandparents, sister, brother who have been financially dependent on him. There are other eligibility factors such as their age. When the job is lost the insurance system provides vocational guidance and allowances till a new job is found.

The insurance offers pension and lump sum benefits on account of old age, disability or death by non-occupational cause of the insured person. This insurance is shared by the employer and the ship owner and hence the ship owner is responsible for paying his share of contribution and the employee's share of contribution to the Insurance Office and other appropriate offices.