2020-21 budget feature: Insurance cover for poor through LIC!
Posted on: 14/Feb/2020 10:58:24 AM
Tamil Nadu State Deputy Chief Minister and the Finance Minister O. Panneerselvam is presenting the state budget for the financial year 2020-21.
As one of the features of the budget, it has been announced that the poor sections of the society will be provided with Life Insurance and Accident Insurance cover through the Life Insurance Corporation of India (LIC).
Life Insurance and Accident Insurance coverage for the economically weaker sections of the society will be implemented by the state government of Tamil Nadu through LIC.
If any permanent disability is incurred in an accident, compensation of up to Rs. 2 Lakhs would be given. For those who die in accidents or other reasons, the coverage has been increased up to Rs. 4 Lakhs.
It has also been announced that the compensation for those with natural death will be increased to Rs. 2 Lakhs.
