LIC covers 2 lakh agricultural labourers

Wednesday 02, November, 2005 In an innovative move, LIC has insured a massive 2-lakh agricultural labourers in Andhra Pradesh for a period of one year. These labourers have been covered under the ?Janashree Bima Yojana?, a plan that was launched four years ago by the state insurer. It is a social security scheme, specially designed to provide life insurance cover to the urban and rural poor. This group insurance scheme is offered to people falling between the age group of 18-59 years. The premium under the scheme is Rs.200 per annum. Out of this annual premium, the state government will contribute Rs 100 and the remaining will be borne by the Social Security Fund. It is quite beneficial to labourers since they are provided with insurance and moreover they wouldn?t have to shell our money to pay the premium amount. In case of natural death, an amount of Rs 20, 000 is paid and death due to accident or permanent disability, an amount of Rs 50, 000 is paid. Other benefits include scholarships schemes for the children of the members of this scheme. The students from 9th, 10th 11th or 12th are eligible to get Rs 300 quarterly. Out of the 2 lakh figure covered, 70% of them are women. The south central zone which includes, Karnataka and Andhra Pradesh is targeting to cover 3,50,000 new lives. Since last year, the insurance mammoth has covered 35,39,654 lives. The policies have been extended to states like Madhya Pradesh, Chattisgarh too.

[ Back to News Room ]

Back to Top^