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Insurance, housing benefits for 60 lakh teachers

New Delhi, June 18 (Calcutta Tube) It’s good news for over 60 lakh teachers across the country – a health and life insurance cover, as well as a group housing scheme has been proposed for them, which would also help attract more people to the profession.

The proposals were discussed at a meeting of the National Foundation for Teachers’ Welfare, which was attended by education ministers from all states and Human Resource Development Minister Kapil Sibal.

Briefing the media later, Sibal said that the schemes were welcomed by all state ministers.

The move comes as an incentive when the country is suffering from a shortage of teachers when major educational reforms are being introduced.

A statement from the ministry said that while the central government will contribute to the health and life insurance scheme, the onus for the housing scheme will fall on the respective state governments.

Under the proposed Rs.500 crore life insurance scheme, teachers will get coverage at lower premiums. It would be available for teachers in the age group of 18-59 at a premium of Rs.840 per annum per member ensuring a minimum of Rs.5 lakh at the end of service and Rs.2 lakh in case of death during service. The health insurance will cover hospitalization of the teacher, spouse, two children and parents.

For health coverage, two options are under consideration. The first is a maximum cover of Rs.1.25 lakh, while the other is of a cover of Rs.3 lakh, which would mean a higher premium.

‘We will take the proposal to the finance ministry for approval,’ Sibal said.

For the group housing scheme, land will be given at institutional rates. The construction will be done by the National Building Construction Corporation and the scheme will be centrally administered via a portal.

‘The plans will start with Delhi as the government has already identified the land,’ Sibal said.

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