The Rubber Board launched the Group Life Insurance-Cum-Terminal Benefit Scheme for tappers in the small holding sector here on Monday.
Rubber Board Chairperson Sheela Thomas inaugurated the scheme by providing Esavu Kanjirathinkal, a rubber tapper, with the first enrolment.
Rubber Board Director (Finance) Viju Chacko, Joint Rubber Production Commissioners K.V. Mathew and M.N. Gopinath, and Vigilance Officer Thomas Augustine participated in the inaugural function.
The scheme is being implemented in collaboration with the Life Insurance Corporation of India. It provides insurance cover for both natural and accidental deaths, compensation for disabilities due to accidents, and terminal benefits for the members. In addition, the members' children studying in classes 9 to 12 will be eligible for an educational scholarship.
The membership is limited to tappers in the age group of 18 to 59 years. However, without insurance cover, tappers will be permitted to remit their contribution to the retirement scheme till the age of 65 years.
The scheme offers Rs.35,000 for natural death, Rs.80,000 for accidental death, Rs.37,500 for the loss of one limb due to accident, and Rs.75,000 for the loss of two limbs.
The minimum contribution for membership in the scheme is Rs.300 a year. Of this, Rs.133 will be accounted as premium and Rs.167 as contribution to the terminal benefit fund. Those desirous of additional benefits can contribute more. Along with the contribution of the tappers, the employer also can contribute an amount for the tapper. The amount will be added to the contribution of the tapper and will be recorded separately.
The Board's contribution to the fund has been fixed at Rs.200. For those tappers who have membership in the tappers bank, the Rubber Producers' Societies concerned will remit Rs.2,000 a year as their contribution.
The application forms for the scheme, declaration forms for self-certification regarding sound health, and the application forms for appointment of nominee will be available at the regional offices of the Board. The application should contain the permit number of the holdings and signature of the employer. In the absence of the above, field officers of the Board or the presidents of the Rubber Read More
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