Indian Insurance Policies

By: KeithTimimi   Date: 8 April 2010

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KeithTimimi

The free-spirited family-man internet entrepreneur who fell in love with the study of economics. And

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The insurance industry in 2010 in India has flourished and is offering more and more options to the citizens of the country. Some of the insurance policy options, requirements for policy coverage, date of commencement of the policy and their adopting organizations are as follows:

1. Social Security Group Scheme

This scheme is administered by Life Insurance Corporation of India for fulfilling the requirement of the weaker section in the society. This scheme covers the peoples in the age group of 18-60 years and an insurance of Rs.5000 for natural death and of Rs.25000 on due to accidental death.

2. Shiksha Sahyog Yojana

This scheme is working since December 31,2001. Under this scheme an educational scholarship of Rs.300 per quarter per child is given for a period of four years.

3. Jan Arogya Bima Policy

Generally this scheme covers a special group of population who are unable to pay for high cost of medical treatments. The premium collection for the adults upto the age of 45 years is Rs. 70 and for children it is Rs. 50. The limit coverage is fixed at Rs.5000 per annum.

4. Mediclaim Insurance Policy

This policy helps in reimbursing the medical expenses. The age coverage is from 5-80 years. Here there is a tax benefit of upto Rs 10,000.

5. Jana Shree Bima Yojana

In this insurance policy, a minimum membership of the group should be 25. There is an insurance coverage of Rs 2,000 on natural death and Rs 50,000 for accidental death. The premium amount is fixed at Rs. 200 for single member. This scheme is working since August 10,2000.

6. Videsh Yatra Mitra Policy

It is for providing benefits for medical expenses during the period of overseas travel. This policy was started in the year 1998 by four General Insurance Companies.

7. Bhagya Shree Child Welfare Bima Yojana

This policy covers one girl child in a family upto the age of 18 whose parents age does not exceed 60 years. This policy is working since October 19,1998 with a premium of Rs.15 per annum.

8. Raj Rajeshwari Mahila Kalyan Yojana

This scheme provides protection to woman in the age group of 10 to 75 years with an insurance of Rs. 25,000 and premium Rs.15 per annum. This scheme is working since October 19,1998.

9. Ashray Bima Yojana

The policy is covering workers in case of loss of jobs since October 10,2001. Here a maximum amount of Rs.3000 assistance is given to the workers till he/she gets an alternative opportunity.

10. Personal Accident Insurance Scheme for Kissan Credit Card

This scheme is working since 2001. Under this scheme all the KCC holders are covered up to an age of 70 years. Insurance coverage includes 50,000 for accidental death and 25,000 for partial disability.


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