Andhra Pradesh CM Nara Chandrababu Naidu launched the third year of Chandranna Bima Yojana here on Thursday.
The program was first launched on 2nd October, 2016 and completed its second year on May 31st this year.
"The schemes of Aam Admi Bima Yojana, Pradhana Manthri Jeevana Jyothi Bima Yojana, Pradhana Mantri Suraksha Bima Yojana and the Individual Accident Bima Policy of the State government are included in this insurance scheme," Chief Minister Naidu said.
He said that around 2.5 crores labourers in the unorganised sector are benefitting under this scheme.
"The entire policy amount will be paid by the State government on behalf of the labourers. The beneficiaries have to pay only Rs. 15 per annum.The beneficiaries aged between 18 to 70 years or their dependents will get insurance of Rs. 5 lakh for accidental death, up to Rs. 2.50 lakh for temporary disability due to an accident and up to Rs. 5 lakh for permanent disability due to an accident," the chief minister added.
The scheme will entitle the beneficiaries Rs. 2 lakh for those aged between 18 to 50 years, and Rs. 30,000 for those between 51 to 59 years, in case of natural death.
Labours in the unorganised sector whose monthly income is Rs. 15,000 are eligible for the scheme.