Accidental death benefits increased to Rs. 1 lakh

Marine Products Export Development Authority (MPEDA) has revised insurance scheme benefits for seafood workers. As many as 40,000 workers across India will benefit.

Under the revised scheme, accidental death benefits have been increased to Rs. 1 lakh and the cover has also been extended to disabilities caused by accident under certain conditions.

The medical benefits have also been revised to Rs. 20, 000 for the workers and their dependents, according to a statement from MPEDA here on Thursday.

Besides, benefits up to Rs. 10, 000 could be availed to loss or damage of property or dwellings.

As for emergency medical evacuation, coverage of up to Rs. 2, 000 could be availed. The annual premium of the scheme remains the same as Rs. 200.

The revised benefits will be effective for policies taken on or after January 1, 2011. An MoU on the same was signed at MPEDA headquarters in December 2010 by J. Ramesh, Secretary, MPEDA, and K.B. Suresh, Regional Manager, United India Insurance Company Limited, Kochi.