Madurai: LIC to enroll 50,000 in new scheme

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Madurai, Oct 21: At the time when the whole world is under credit crunch, employees being sacked left and right, Life Insurance Corporation (LIC) 'Janashree Bima Yojana' scheme is going to enroll 50,000 persons in Madurai. 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.

This scheme just costs Rs 100 per month for 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. Addressing the social security month celebrations organised here on Monday, Oct 20 Senior Divisional Manager S Chandrasekar said that the scheme was part of LIC"s corporate social responsibility.

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.

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