Staff Reporter

MADURAI: Life Insurance Corporation (LIC) of India’s Madurai division plans to enrol 50,000 persons into one of its major social security scheme, ‘Janashree Bima Yojana,’ this fiscal. This is 15,000 more than last year’s figure for the scheme, offering a wide range of benefits and aimed at those working in the unorganised sector.

Addressing the social security month celebrations organised here on Monday, Senior Divisional Manager S. Chandrasekar said that the scheme was part of LIC’s corporate social responsibility.

While the one taking this insurance scheme had to pay Rs. 100 towards premium annually, another Rs. 100 would come from the Social Security Fund maintained by the LIC. While Rs. 30,000 would be given to the family of insured in case of natural death, Rs. 75,000 would be given in case of death by accident.

P. Vairamuthu, Assistant Branch Manager (Pension and Group scheme), said that under the scheme 2.21 crore members had been enrolled by the end of last fiscal. Madurai division had two lakh members with 375 claims amounting to Rs. 1.21 crore settled.

Under the scheme, 13 lakh scholarships were given to students between standards IX and XII. A sum of Rs. 1,200 was given as scholarship every year. While Rs. 76 crore was disbursed totally, Rs. 1.56 crore was given in the division to 13,934 students.