The Rajasthan government has launched the Shiksha Sanjeevani Bima Yojana, a first-of-its-kind insurance scheme aimed at benefiting students from Class 1 to Class 5 in government schools. This initiative marks a significant step towards securing the future of schoolchildren and promoting financial security in the education sector.
Shiksha Sanjeevani Bima Yojana
Personal Accident Insurance Coverage: The scheme provides ₹1 lakh insurance coverage for 1.3 lakh students in government schools across Udaipur division.
Statewide Expansion: This unique initiative will gradually expand across Rajasthan, ultimately benefiting one crore school children.
Scholarship Support:
- In the event of accidental death of a student’s parent, the child will receive a scholarship until the age of 18.
- The scholarship amount will be protected with interest to ensure its long-term benefits.
Preventing Financial Hardship: Ensures continuity in children’s education and helps prevent child labor by offering financial support in case of family crises.
Digital Financial Inclusion: Encourages saving habits from an early age and prevents misuse of insurance claim amounts.
Implementation and Collaboration: The scheme is being implemented with the support of:
- Wonder Cement
- Zurich Kotak General Insurance
- State Bank of India (SBI)
- SME Insurance Promotion Council
Significance of Scheme
- Strengthens Social Security: Acts as a safety net for school children by offering financial assistance during adversities.
- Encourages Education: Reduces the risk of students dropping out due to financial hardships caused by accidents.
- Supports Digital India Mission: Ensures efficient fund transfer and claim settlements through digital banking systems.