The Antyodaya Shramik Suraksha Yojana 2023 is a bold, low-cost insurance program that aims to provide full coverage and security to unorganized sector workers across the country. Recognizing Shramiks’ enormous contributions to our country’s progress and development, this provision is intended to assure their financial stability and well-being.
Antyodaya Shramik Suraksha Yojana 2023
- Comprehensive Coverage: It encompasses a wide range of benefits, including accidental insurance of Rs. 10 Lakhs and Rs. 5 Lakhs, Disability benefits, Hospitalisation benefits, etc. all tailored to cater to the unique needs of the Shramiks.
- Affordable Premiums: Being offered at the very affordable annual premium rate of Rs. 499/- for Rs. 10 Lakhs cover and Rs. 289/- for Rs. 5 Lakhs cover, making it accessible to ceramics from all walks of life.
- Easy Enrollment Process: Shramiks can conveniently enroll through the nearest post office/Postman/Grameen Dak Sewak.
- Pan India Coverage: Post the successful pilot launch, the scheme will be rolled out pan India to cover over 28 Crore+ shramiks. This nationwide coverage will ensure that every shramik, regardless of their geographical location can avail the benefits.
By ensuring financial security, accidental cover and hospitalisation benefits, this scheme will empower shramiks to contribute more effectively to the nation’s progress.
The insurance plan recommended below has capital benefits and allied/ additional value-added benefits meeting the needs of the labour workforce of our nation. Capital benefits are linked to death and disability on account of accidents. Allied benefits would help the Insured member or their family take care of the incidental expenses that could get impacted in case of an accident.
|Benefit Type||Benefits||Plan A – 10 Lakh Sum Insured (INR 499)||Plan B – 5 Lakh Sum Insured (INR 289)|
|Capital Benefits||Accidental Death||100% of Sum Insured||100% of Sum Insured|
|Permanent Total Disability||100% of Sum Insured||100% of Sum Insured|
|Permanent Partial Disability||100% of Sum Insured||100% of Sum Insured|
|Accidental Dismemberment||100% of Sum Insured||100% of Sum Insured|
|Add-on Benefits||Accidental Medical Expenses – Inpatient Hospitalisation Cover||INR 1 Lakh or actual claim amount (whichever is lower) – requires 24 hrs of hospitalisation||INR 50,000 or actual claim amount (whichever is lower) – requires 24 hrs of hospitalisation|
|Prolonged Hospitalisation Benefit – in case of Accidents||INR 10,000 will be paid if hospitalised for a continuous period exceeding 7 days during the policy period in case of accident – available as a one-time benefit||Not Available|
|Funeral Expenses||INR 5,000 or actuals whichever is lower||INR 5,000 or actuals whichever is lower|
|Repatriation of Mortal remains||INR 5,000 or actuals whichever is lower||INR 5,000 or actuals whichever is lower|
|Coma Benefit in case of Accidents||INR 1 Lakh as a one-time benefit during the policy period||INR 50,000 as a one-time benefit during the policy period|
|Education Benefit||INR 1 Lakh for maximum 2 eligible children in case of accidental death of the insured member||Not Available|
|Premium excluding GST||INR 423||INR 245|
|Premium including GST||INR 499||INR 289|
Note: The risk commencement date under this policy to start 15 days post the receipt of premium to eliminate the possible incidences of fraud. However, the Insured member will be eligible for the coverage for 365 days from thereon.
IPPB Group Accident Gaurd Policy (GAG)I IPPB Tata AIG Group Accident Gaurd Policy
- Key Features of IPPB TATA AIG Group Accident Gaurd Policy:
- Accidental Death Coverage of Rs.10,00,000
- Permanent Total Disability Coverage of Rs.10,00,000
- Permanent Partial Disability Coverage of Rs.10,00,000
- Accidental Dismemberment and ParalysiS Coverage of Rs.10,00,000
- Accidental Medical Expenses IPD Fixed upto Rs.60,000 or actual claims, whichever is lower
- Post Tax Premium Rs.399
- Accidental Death Coverage of Rs.10,00,000/-
- Permanent Total Disability Coverage of Rs.10,00,000/-
- Permanent Partial Disability Coverage of Rs.10,00,000/-
- Post Tax Premium Rs.399
- Accidental Medical Expenses OPD
- Fixed up to Rs.30,000/- or actual claims, whichever is lower
- Education Benefit
- 10% of SI or Rs.1,00,000/- or actual, whichever is lower for maximum of 2 eligible Children
- In-Hospital Daily Cash
- Rs.1,000 per day up to 10 days (1-day deductible)
- Family Transportation
- Benefits 25,000/- or actual, whichever is lower