Workmen’s compensation insurance is a type of business insurance that provides benefits to employees who suffer work-related injuries or illnesses. Specifically, this insurance helps pay for medical care, wages from lost work time, and more.

1. 1 This insurance is included in income because it covers wages from lost work.
2. 2 Is excluded from income.
3. 3 Is excluded from income only if used for certain purposes.
4. 4 Is partially included in income and partially excluded.