Minister of Urban Development M.Venkaiah Naidu gifted Accident Insurance Policies to 10,000 women on the occasion of Rakshabandhan Day. The woman beneficiaries, who get the benefit of accident insurance cover of Rs 2 lakh were identified from the villages of his native Nellore district in Andhra Pradesh.
Naidu’s initiative came in the backdrop of the call given by Prime Minister Narendra Modi to gift at least one social security cover policy to sisters on Rakshabandhan Day.
The 10,000 women were gifted insurance policies by Venkaiah Naidu under ‘Prime Minister Suraksha Bima Yojana’ launched recently. He paid the necessary amount towards premium for life time accident insurance coverage.
Under the scheme, Rs.201 can be deposited against each beneficiary in the bank from which premium for two years at the rate of Rs.12 per year will be deducted and from the interest on the remaining amount of Rs.177, premium requirements for 10 years will be met. This enables accident insurance of Rs 2 lakh for beneficiaries of 18-70 years of age for life time.
The insurance policies were presented to the beneficiaries by Venkaiah Naidu at a programme organized in the premises of ‘Swarna Bharat Trust’ at Venkatachalam village near Nellore today, since a bandh was called in the state yesterday.