The Kerala government has drawn up a scheme to provide pension and financial security to Keralites residing outside the state. Chief Minister A K Antony will formally launch the scheme, titled 'Pravasi Swasarya', on January 14.
The scheme is being implemented by Roots-Non-resident Keralites Development Initiative, a company floated by the government for development and welfare activities for non-resident Keralites in collaboration with the Life Insurance Corporation of India.
Non-Resident Keralites Affairs Minister M M Hassan said on Tuesday that those who have returned to the state after working in other states or abroad can subscribe to the scheme, which will allow them to draw a fixed monthly income.
Six LIC schemes have been brought under a common umbrella for marketing many options to suit the needs of different kinds of people with different annuity requirements and varying paying capacities.
"It will be beneficial to the affluent Keralites in the United States as well as the poor Keralite living in the labour camps in Gulf countries. They can choose the scheme which suits them best," he said.
The minimum age for pension will be 40 years. The scheme also has a provision for financial security to the families of non-resident Keralites in case of early death. The terms suggested for the scheme vary from five to 16 years. The premium is payable for a definite period or till death if it occurs within the period.
The government has already offered add-on benefits like free accident insurance and medical insurance besides executive health check-up at reputed hospitals and credit purchase facility in state public-sector companies like Hanveev, Oushadhi, Hantex, and Handicrafts Development Corporation.
The six schemes being marketed in the beginning are Endowment with Jeevan Akshay, Jeevan Anand with Jeevan Akshay, Jeevan Akshay Immediate Pension, Jeevan Suraksha without life cover, Jeevan Suraksha with term rider option, and Jeevan Suraksha single premium. Non-resident Keralites can choose any one depending on their requirement.
The details of the schemes are available at the non-resident Keralites affairs department Web site [www.nonresidentkeralite.com]