Life insurance scheme for workers in coconut, ‘Thal’ and ‘Kithul’ industries

The Agricultural and Agrarian Insurance Board says that it is planned to implement a life insurance scheme for workers engaged in the ‘Kithul’ (Caryota urens), coconut, and ‘Thal’ (palmyra) industries in the country.

Accordingly, it has been currently planned to introduce the Accidental Death and Dismemberment (AD&D) insurance for workers in these industries, which can be renewed annually, the board said.

Furthermore, the Agricultural and Agrarian Insurance Board stated that under this scheme, insurance coverage of Rs. 500,000, Rs. 1,000,000, and Rs. 2,000,000 will be provided in the event of death or total and permanent disability.

It is also reported that the insurance coverage will apply in cases of temporary incapacitation as well as hospitalization due to accidents, according to the Agricultural and Agrarian Insurance Board.

The board has also planned to offer the opportunity to join this insurance at small annual installments, such as Rs. 2,000, Rs. 4,000, and Rs. 8,000.