THE SCHEME, "PRAVASI BHARTIYA
BIMA YOJANA, 2003", FINALISED
On the occasion of
Pravasi Bhartiya Diwas on the 9th January, 2003, the
Hon’ble Prime Minister announced a compulsory Insurance Scheme
for the emigrants going abroad for employment. Accordingly an
Insurance Scheme was framed by Labour Ministry in consultation
with the Ministry of External Affairs. Proposals from M/s. New
India Assurance Co. Ltd., M/s. Bajaj Allianz General Insurance
Co. Ltd. And M/s. ICICI Lombard General Insurance Co. Ltd. Were
received which were examined in the Ministry.
A notification
for introducing the "Pravasi Bharatiya Bima Yojana, 2003"
has been issued on 13th November, 2003. This scheme
will come into force on the 25th day of December, 2003.
The salient features of the Pravasi Bharatiya Bima Yojana, 2003
are follows:
- The Pravasi Bharatiya Bima Yojana
seeks to provide insurance cover of a minimum sum of Rs.2.00
lakhs payable to the nominee/legal heir in the event of
death or permanent disability of any Indian emigrant who goes
abroad for employment purpose after obtaining emigration
clearance from the concerned Protector of Emigrants (POE).
- In the case of death, besides
the cost of transporting the dead body, the cost incurred on
the one way airfare of one Attendant shall also be reimbursed
by the Insurance Company.
- If a worker is not received by
the employer on his arrival to the destination abroad or there
is any substantive change in Employment Contract to his disadvantage
or if the employment is pre-maturely terminated within three
months for no fault of the emigrant, the Insurance Company shall
reimburse one way economy class airfare provided the grounds
of repatriation are certified by the concerned Indian Mission/Post.
- The Insured person shall be reimbursed
actual one way economy class airfare by the Insurance Company
if he falls sick or is declared medically unfit to commence
or continue working and the service contract is terminated by
the Foreign Employer within six months of taking the insurance.
- The Insurance Policy shall be
valid for a period of two years or the actual period of contract
whichever is less.
- The Insurance Policy shall also
provide medical cover of a minimum of Rs.50,000/- as
cash-less hospitalization and/or reimbursement of actual medical
expenses of the insured emigrant workers on grounds of accidental
injuries and/or sickness/ailments/diseases occurring during
the period of insurance provided the medical treatment is taken
in India.
- The Insurance Policy shall also
provide maternity benefits, subject to a minimum cover of
Rs.20,000/- in case of women emigrants but re-imbursement to
be restricted to actual expenses.
- The family of emigrant worker
in India consisting of spouse and two dependent children up
to twenty one years of age shall be entitled to hospitalization
cover in the event of death or permanent disability of the
insured person for a maximum amount or Rs.10,000/- per annum.
- The Insurance Companies shall
charge fair and reasonable premium for policy period
of six month, one year and two years.
