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Language , Updated: Aug 1, 2022, 9:52 PM
Hyderabad, Aug 1 (PTI) The Telangana government will launch a life insurance scheme for handloom and power loom weavers on August 7. National Handloom Day will be celebrated on this day. About 80,000 beneficiaries are expected to get the benefit of this scheme. State Industries Minister KT Rama Rao on Monday said that the objective of the scheme is to provide financial assistance to the families of handloom and power loom weavers. He said in a statement that the death of the beneficiary handloom or powerloom weaver during the insured period
State Industries Minister KT Rama Rao on Monday said that the objective of the scheme is to provide financial assistance to the families of handloom and power loom weavers.
In the event of the death of the beneficiary handloom or powerloom weaver during the insured period, the nominee will get Rs 5 lakh, he said in a statement.
The state government has entered into an agreement with Life Insurance Corporation (LIC) to implement this scheme.
The government will pay the premium amount to LIC and the beneficiaries are not required to pay any amount.
The government has allocated Rs 50 crore for the payment of premium, out of which Rs 25 crore has already been released.
All handloom and power loom weavers below the age of sixty years are eligible to enroll under the scheme.
About 80,000 handloom and power loom weavers in the state will get insurance under this scheme, the statement said.
Source: navbharattimes.indiatimes.com
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