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Nagaland

High welfare input envisaged for low earners

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By EMN Updated: Oct 23, 2013 12:56 am
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Correspondent
KOHIMA, OCTOBER 22

THE economic security that a welfare endorsement offers, such as insurance, can mitigate future economic constraints that the middle-to-low income earners may possible face. The benefits of economic and welfare support which insurances can offer is what the Life Insurance Corporation of India (LIC) is planning to harness. As part of the month-long social security exercise, the LIC conducted an awareness camp Tuesday on social security in Dimapur, the program was held in collaboration with the directorate of Labour of Nagaland.
Resource person for the camp Deputy Manager of LICI Abdul Malik said “one of the main objectives of LIC since its inception has been to spread life insurance widely, in particular in the rural areas and to the socially and economically backward classes with the objective of providing them financial cover against death and disability.”
To emphasize the message of social security particularly to the socially and economically backward classes and the rural poor, LIC has been celebrating the month of October every year as a Social Security Month. October 2 is the birthday of Mahatma Gandhi, who was a staunch advocate of economic and social uplift of India’s millions of poor.
According to Abdul Malik, a major scheme sponsored by Government of India and one that is administered by LIC for the benefit of weaker sections is the Aam Admi Bima Yojana (AABY), a scheme that offers cover for disability for rural people without lands.
Previously there was two schemes namely Janashree Bima (JBY) and the AABY for rural landless households, he said. On January 1, 2013 the Ministry of Finance, Government of India merged the two schemes. The new scheme is also for the benefit of building and construction workers. The resource person said that the eligible persons are those aged in the group 18-59 years and normally the head of the family or the only one earning member of the family.
He highlighted the benefits under the scheme. He said the premium is Rs. 200 per annum per member while for the Rural Landless Households (RLH) the Social Security Fund is Rs.100. State governments and Union Territories would directly pay Rs.100 of the premium while the member in concern is to pay Rs. 100, he said. A member can claim Rs.30, 000 for natural death and Rs. 75, 000 for accidental death. The cover for Permanent Total Disability (loss of two eyes or two limbs due to accident) is Rs. 75, 000 while the cover for Permanent Partial Disability (loss of one eye or one limb due to accidents is Rs. 37, 500, he said.
Other benefits include scholarship as a free add-on benefit to a maximum of two children of the beneficiary studying between 9th to 12th standard at 100 per month for each child payable half yearly on the 1st of January and 1st of July every year.
Malik said further that total lives covered as on 31.03.2013 under the Social Security Schemes is 4,81,18,653 while claims paid is around Rs. 430 crore to 1.39 lakh families below or marginally above-poverty lines during previous financial year.
He also highlighted the Mahatma Gandhi Bukkar Bima Yojana (MGBBY), a scheme devised by the Ministry of Textiles, Government of India Implemented through LIC for the welfare of the handloom weavers.
Delivering the keynote address during the program was also State Project Officer T Chubayanger. He said that wage earners are the most vulnerable group of workers in the society. For that reason, the employers should take it as a responsibility to get them insured, the officer said to the gathering. To join the scheme, he said, the registration should come through the respective district assistant commissioner, the officer said.

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By EMN Updated: Oct 23, 2013 12:56:22 am