LIC observes social security month

The Life Insurance Corporation of India (LIC), Coimbatore Division, on Monday organised a function to mark the observance of October as a social security month. V. Krishnaswamy, General Manager of Indian Overseas Bank and R. Palaniswamy - Senior Divisional Manager of LIC of India, Coimbatore Division, took part in the celebrations. There was a slide presentation on the salient features of Janashree Bima Yojana.

Janashree Bima Yojana is a scheme specially designed for people below poverty line. Persons engaged in specific occupations such as milk producers, rickshaw pullers, auto drivers, construction workers, farm labourers, handloom weavers, agricultural workers, plantation workers, self-help group members can avail the benefits of this scheme. The members could form a group of more than 25 and through NGOs or self-help groups could join this scheme. The annual premium is Rs. 200 only. Out of which, Rs. 100 is subsidised by the Government of India and the individual policyholder will have to pay only Rs. 100 a year. In case of natural death the claim paid will be Rs. 30,000 and in the case of accident death claim amount will be Rs. 75,000. Amount paid due to permanent disability is Rs. 75,000 and it will be Rs. 37,500 for partial disability. Apart from this, a scholarship amount of Rs. 300 per quarter will be paid to children of the members of the scheme, who are studying in Standard 9 to12.


Source: The Hindu