Kendriya Vidyalaya students to get life, accident cover
Kendriya Vidyalaya Sangathan (KVS) will set apart Rs 4 crore as annual premium for insurance for its 11 lakh-odd students in the 1,086 schools across the country.
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Sources said the Kendriya Vidyalaya Sangathan(KVS) will set apart Rs 4 crore as annual premium for its 11 lakh-odd students in the 1,086 schools across the country. Each student will have a cover of Rs 2 lakh in case of an accident and Rs 3 lakh in case of death.
"We may charge Rs 70 to Rs100 per student per year towards premium. The exact amount will be decided after we get expressions of interest from insurance companies," said a KVS official.
KV school heads are as excited as the parents. In Tamil Nadu, there are 40 KV schools and each class has 40-45 students. "We've received the notification and it's a fantastic initiative," said Prasanna Kumari, principal of KV, Ashok Nagar. "It will encourage students and parents to be associated with KV schools."
With students spending most of their time in school, their safety has become a big concern for school managements. Some private schools in cities have introduced accident and illness insurance cover for students with a ceiling of up to Rs 10,000, but none covers life and for such an amount as KVS proposes to do.
"Every parent is worried about children running into some trouble," said Meena Kumari, the mother of class 9 student. "An insurance cover is a financial solace," she said, for middle-class families as hers. Her son had met with an accident recently and she had to foot a hefty bill.
An insurance company official said his firm has got inquiries from private schools, too. "So far we have been tying up with schools for medical check-ups and insurance. Life insurance for school students is an emerging trend," he said.
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