Andhra Pradesh Chief Minister recently re-launched the YSR Bima scheme with new guidelines, where the government itself will directly pay the insurance amount to the family of the deceased to make the insurance claims easier.
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The State government has allocated ₹750 crore for the scheme for the year 2021-22. In the last two years, the state government had spent ₹1,307 crore for the scheme.
About 1.30 lakh families have been brought under insurance coverage. Under the scheme, an insurance amount of ₹1 lakh will be paid if the beneficiary aged between 18 to 50 years, who is a breadwinner of the family, succumbs to natural death. A sum of ₹5 lakh will be paid if the beneficiary in the age group of 18 to 70 years dies in an accident.
