In this scheme, the beneficiary will receive an insurance amount in their family member's untimely death or permanent disability.
Benefitting 1.14 crore primary bread earners in the unorganised sector, Andhra Pradesh Chief Minister Jagan Mohan Reddy launched the 'YSR BIMA' scheme at the camp office.
In this scheme, the beneficiary will receive an insurance amount in their family member's untimely death or permanent disability. During his Padayatra, the Chief Minister came across scores of citizens facing such issues due to the lack of insurance coverage. The scheme aimed at providing security to the families of poor and unorganised workers in the state.
Speaking further on the launch, Reddy has also announced financial assistance of Rs 10,000 to the family of those who died in an accident.
"The bereaved family can reach out to the village's grama secretariat for the immediate financial relief of Rs 10,000. It will be the first time in the country that a state government will be single-handedly funding the insurance scheme. The estimated value of the premium and other expenses being paid by the government is 510 crores," the Chief Minister's Office said.
The amount is expected to go up further as the number of beneficiaries is expected to increase within a few days, once the eligible citizens' bank accounts are operationalised, it added.
The category wise coverage includes -- accidental death and total permanent disability (Age: 18-50 ) -- Rs 5 lakh, accidental death and total permanent disability (Age: 51-70 ) -- Rs 3 lakh, natural death (Age: 18-50 ) -- Rs 2 lakh and partial permanently disability due to an accident (Age : 18-70) -- Rs 1.5 lakh.
The Chief Minister further directed the officials to make sure that the claim amount will be deposited into the linked bank account within 15 days.
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