Insurance cover for weavers
The Union Ministry of Textile and Life Insurance Corporation of India (LIC) have jointly introduced the Janashri and additional Group Insurance Schemes for the weavers using power looms for the year 2005-2006 also.
The weavers who had insured during 2004-2005 will have to renew the registration. Those desiring to register afresh have to pay a premium of Rs 200 for Janashri scheme.Of this the LIC will bear Rs 100 from its security fund while the Centre will contribute Rs 60.The weaver has to pay Rs 40 as his contribution to the premium.
In case of natural death during the risk covering period the nominee of the insurer would get Rs 20,000 and in case of unnatural death the amount would be Rs 50,000. For an additional premium contributed by the insurer the Centre would pay a matching contribution making the premium amount Rs 180.
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