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AP govt allocates ₹750 crore for YSR Bima scheme for 2021-22

Our Bureau Hyderabad | Updated on July 01, 2021

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Thursday formally re-launched the YSR Bima scheme with new guidelines, where the government itself will directly pay the insurance amount to the family of the deceased to make the insurance claims easier. The State government has allocated ₹750 crore for the scheme for the year 2021-22.

In the last two years, the state government had spent ₹1,307 crore for the scheme.

Speaking on the occasion, the Chief Minister said about 1.30 lakh families have been brought under insurance coverage. Under the scheme, an insurance amount of ₹1 lakh will be paid if the beneficiary aged between 18 to 50 years, who is a breadwinner of the family, succumbs to natural death. A sum of ₹5 lakh will be paid if the beneficiary in the age group of 18 to 70 years dies in an accident.

Also read: Jaganmohan Reddy launches welfare schemes for fishermen

The Chief Minister explained that the Union Government had withdrawn from the insurance scheme from April 2020, which was earlier paying 50 percent of premium. After the Centre’s withdrawal, the entire premium was paid by the State on humanitarian grounds to provide security for those families in need, he added.

Published on July 01, 2021

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