TN modifies insurance scheme for weavers

Tamil Nadu government on Tuesday announced that it will contribute an annual sum of Rs 98.23 lakh as insurance premium for 75,565 co-operative weavers in the state.

The government also announced that the self insurance scheme, run by the state, has been modified as 'Bunkar Bima Yojana' with the support of Life Insurance Corporation of India (LIC) to implement this plan.

Under this scheme, the central government will make a monthly contribution of Rs 150, LIC Rs 100, and the state government Rs 130 as premium money.

Under the new scheme, Rs 50,000 would be paid to the weaver's family if he died before reaching 60 years.In the case of accidental death, the weaver's family will be paid Rs 80,000.

In case of being incapacitated fully by accident, Rs 50,000 will be paid to the weaver and Rs 25,000 in case of being incapacitated partly.

Further, the new scheme will also provide a payment of Rs 300 per quarter towards the education of the weavers' children between grade nine and 12, for a maximum period of four years.