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Students’ insurance scheme slashed and restricted to low-income families
View(s):The cash-strapped government has reduced the school-going students’ Suraksha insurance coverage for the death of a parent or legal guardian to Rs 75,000 from Rs 200,000, with a mandatory clause that the students should be from low-income families to be eligible for the insurance claim.
A revised circular to this effect was issued by the Secretary to the Ministry of Education.
The maximum amount allocated for the death of a parent is also reduced to Rs 225,000 from Rs 600,000 as fixed in the previous circular that was issued on March 13 last year.
The maximum amount allocated is to be equally shared among all the school-going children within the same family. In case of the death of both of the parents, the amount is granted in full for both occasions separately, Ministry Secretary M.N. Ranasinghe indicated in the new circular issued to Provincial Secretaries, Education Directors and Principals.
The insurance scheme was implemented based on the budget proposal presented in 2017 under the theme of “Protect Forever – The Children of the Nation”.
The state-sponsored insurance cover will be provided for one year by the Sri Lanka Insurance Corporation which entered into an agreement with the Education Ministry covering the duration from December 2, 2021, to December 1.
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