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Insurance scheme for rubber tappers launched

The Rubber Board has launched a group life insurance-cum-terminal benefit scheme for tappers working in the small holding sector.

July 12, 2011 / 03:38 PM IST

The Rubber Board has launched a group life insurance-cum-terminal benefit scheme for tappers working in the small holding sector.


The scheme, being implemented in collaboration with LIC, provides insurance cover for natural and accidental deaths, compensation for disabilities due to accidents and terminal benefits for the members.


In addition, members' children studying from Classes 9 to 12 will be eligible for an educational scholarship. Board chairperson Sheela Thomas, who inaugurated the scheme by presenting the first enrolment to a tapper at a function here yesterday, said membership is limited to tappers in the 18-59 age group.


However those without insurance cover could remit their contribution to the retirement scheme till age 65. The scheme offers Rs 35,000 for death due to natural causes, Rs 80,000 for accidental death, Rs 37,500 for the loss of a limb due to accident and Rs 75,000 for loss of two limbs.


The minimum contribution for membership in the scheme is Rs 300 per year. Of this, Rs 133 will be accounted as premium and Rs 167 as contribution to the terminal benefit fund. The board's contribution has been fixed at Rs 200, she said.

For tappers that have membership in tappers bank, the Rubber Producers' Societies concerned will remit Rs 2,000 per year as their contribution, she added.

first published: Jul 12, 2011 12:13 pm

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