The Hindu Business Line : Andhra Bank unveils 3 schemes

The Union Finance Minister, Mr P. Chidambaram, unveiled the insurance schemes, while the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, released the AB Kisan Green Card.

The Chairman and Managing Director of Andhra Bank, Mr T.S. Narayanasami, said the health insurance scheme for the members of SHGs titled `Swasthya Bima Policy' has been designed in alliance with United India Insurance Company Ltd at a premium amount of Rs 140 per annum.

Any SHG or credit-linked group member in the age group of 15-65 years can join the scheme. The scheme offers reimbursement of hospitalisation expenses up to Rs 10,000 in addition to transportation cost up to Rs 200 and cost of meal to a maximum of Rs 150.

The scheme for senior citizens, AB Jeevan Prakash Plus, has been introduced in alliance with Life Insurance Corporation of India and United India Insurance Company. It is a cumulative term deposit scheme for the senior citizens in the age group of 61-65 years providing insurance cover. The scheme offers free health insurance and free life insurance cover, where there is no need for medical examination for joining the scheme.

The depositors have two options - Rs 2 lakh and Rs 1 lakh. According to Mr Narayanasami, the AB Kisan Green Card takes care of comprehensive credit requirements of farmers, which include crop production, land development, dairy development, purchase of cart and bullocks, sheep rearing, horticulture, purchase and repairs to agricultural implements, besides for consumption purposes.

It also offers farmers personal accident insurance cover up to Rs 50,000.The bank would issue the card without any collateral security up to the limit of Rs 50,000.

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