Agri Business

Spices Board to launch insurance scheme for cardamom growers, workers

Our Bureau Kochi | Updated on July 28, 2011 Published on July 28, 2011

A farmer nursing his cardamom plant (file photo)

Thousands of cardamom growers and workers in the country will soon come under the ambit of personal insurance cover which will be introduced by the Spices Board.

The Spices Board Chairman, Dr A Jayathilak, will launch the scheme by releasing the first five policies to cardamom growers at a function to be held at the Indian Cardamom Research Institute in Idukki District, on Friday.

The personal accident insurance scheme has been initiated by the Ministry of Commerce, as a social security scheme for workers and growers of plantation crops under the Price Stabilisation Fund Trust Scheme (PSFT). The insurance scheme which will be run by the Cholamandalam MS General Insurance Company will cover growers in the age group of 5-80 years and workers in the age group of 14-80 years, a press release from the Spices Board said.

Similar schemes will soon be launched for other spices such as chillies, pepper, turmeric and ginger, sources in the Spices Board said.

Under the present scheme, a grower will get enrolled as members of the PSFT by paying a registration fee of Rs 100. The workers will not be required to pay any membership fee and will have to pay only their share of the annual premium. The insurance coverage works out to Rs 1 lakh.

The yearly premium is Rs 22 and each of the grower and worker need to pay only 50 per cent of the premium and remaining Rs 11 will be paid from the PSFT. Growers having plantations up to four hectare will be eligible to enrol in the scheme.

The scheme is expected to benefit cardamom growers and workers who face risks working in forest areas. The Spices Board sought support from estates, growers and other associations in the realm of cardamom cultivation for enrolling the workers/growers.

Published on July 28, 2011
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