Telangana to Launch Rs 5 Lakh Universal Life Insurance Scheme on November 19
Telangana aims to become the first state in the country to provide universal life insurance coverage to every family through the Indiramma Kutumba Jeevitha Bima Pathakam, Deputy Chief Minister Mallu Bhatti Vikramarka announced on Friday.
Hyderabad: Telangana aims to become the first state in the country to provide universal life insurance coverage to every family through the Indiramma Kutumba Jeevitha Bima Pathakam, Deputy Chief Minister Mallu Bhatti Vikramarka announced on Friday.
Enrolment for the scheme will begin across the state on November 19, with Chief Minister A. Revanth Reddy formally launching the initiative.
Under the scheme, every family will receive life insurance coverage of Rs 5 lakh, irrespective of caste, religion or income. Addressing a video conference with district collectors and officials, Vikramarka said enrolment would be conducted simultaneously in villages, towns and cities through a saturation approach.
In families with a single earning member, that person will be insured. Families with multiple earning members can choose the person to be covered. Beneficiaries can also nominate one or more individuals and determine the proportion of the insurance amount allocated to each nominee.
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The Deputy Chief Minister instructed officials to verify the insured person’s and nominees’ details carefully and read them aloud before obtaining signatures. Enrolment camps will be publicised on November 17 and 18 through traditional tom-tom announcements.
The initiative gains significance in light of the COVID-19 pandemic, particularly the second wave in 2021, when several families lost their primary breadwinners and faced severe financial difficulties.
By extending insurance protection to every household, Telangana aims to provide financial security to vulnerable families and prevent the sudden death of an earning member from pushing dependants into economic hardship.
