By. Ch. Purnachandra Rao, Machilipatnam, Andhra Pradesh, August.7: The Government of India has release of Rs.500 crore towards Social Security Fund manitained by Life Insurance Corporation of India, to provide for fifty percent share of premium equal to Rs.100 per annum to provide death-cum-disability insurance cover to members of Women Self Help Groups credit-lined to Banks under Janashree Bima Yojana (JBY), according to a top official spoke person, LIC of India here today.
Talking to RNI Correspondent at LIC Divisional Office here, that it will facilitate to provide life and permanent disability cover to members of all Women Self Help Groups credit-linked to Banks under the Janashree Bima Yojana. LIC will cover Rs.2.5 lakh Women Self Help Groups under JBY by 31 March ,2009.
He also said that the JBY a Social Security Scheeme, implemented through LIC was launched on 10 August,2000 with theobjective of providing life insurance protection to the rural and urban poor under various vocational groups.
The premium under the Scheme is Rs.200 per member per annum, of which fifty percent premium is paid by the beneficiaries of the Scheme or Nodal Agency or State Government and the remaining fifty percent of premium is met from the Social Security Fund contributed by the Government of India and maintained by LIC. At present, there are forty five vocational ,and occupational groups covered under the Scheme.
He said that Women associated with Self Help Groups is one of the vocational groups and was introduced as a separate vocation or occupation under Janashree Bima Yojana,he added.
(For Queries contact CH.Purnachandra Rao at chaladipurna@yahoo.co.in)
--- TINN
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