Maharashtra government is working on an insurance scheme for students of higher and technical education courses which will ensure that their studies are not hampered in the event of the death of their guardians.
Higher and Technical Education Minister Rajesh Tope said the scheme will be applicable to all professional degree and diploma courses like engineering, pharmacy, MBA and hotel management that fall under the purview of his ministry.
He said that either the students can pay a nominal premium on their own or colleges can pay from the 'Students Welfare Fund' to the LIC.
"In case of death of a student's guardian or the head of the family, Rs4.5 lakh will be given, whereas, in case of the death of a student, the family will get Rs1 lakh," he said.
According to the minister, the insurance scheme would prove beneficial in respect of the security of the student's educational prospects.