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Varsity extends insurance scheme

M. Balaganessin

For its students, teaching and non-teaching staff as also those of constituent colleges

TIRUCHI: Bharathidasan University has extended for this academic year the implementation of the Special Contingency Policy, a group insurance scheme.

The university launched it for all its students, teaching and non-teaching staff as also those of constituent colleges.

Roping in New India Assurance Company, the university introduced the scheme in October last, bringing 1.34 lakh beneficiaries under the cover with an annual premium of Rs.10.

The policy assures a compensation of Rs.1.50 lakhs in case of death of the policyholder and Rs. 75,000 in case of permanent disability. The policyholders are also reimbursed up to Rs.5,000 towards medical expenses for injuries sustained in road accidents.

The university remitted Rs.12 lakhs on behalf of its students, teaching and non-teaching staff of constituent colleges.

"When we introduced the policy, little did we expect the company to pay a compensation to the tune of Rs.34 lakhs to the faculty and students of various colleges, who either perished in the tsunami or met with accidents," said the Vice-Chancellor, C. Thangamuthu.

This year, the annual premium per policyholder has been increased to Rs.12. The Divisional Manager of the company, V. Sowrirajan, said the policy covered students and faculty of affiliated colleges in Karur, Perambalur, Tiruchi, Pudukottai, Thanjavur and Nagapattinam districts.

The importance of the policy was realised during the post-tsunami period. The company paid compensation to the next of kin of each of the bereaved families of 13 victims of tsunami, including a faculty attached to the Holy Cross College, Tiruchi, and a batch of six students from Maruthu Pandiar College in Thanjavur, who lost their lives at Velankanni, besides two students who were killed at Cuddalore.

The Manager, Cantonment Branch, M. Chandrasekaran, in his capacity as Community Service Director of Rotary Club of Tiruchi, initiated the concept for school students during 2003-2004.

The premium was remitted by the Rotary Clubs of Tiruchi. Its success prompted the company to bring in university and college students under the insurance fold.

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