KP announces life insurance scheme for province

PESHAWAR: Barrister Saif, information adviser to the KP government, has announced the life insurance scheme for the people of the province, ARY News reported on Sunday.

In a statement KP adviser said that the provincial government has approved a plan of the life insurance scheme to extend financial security to the province’s people after the universal health coverage scheme.

Barrister Saif said that the welfare scheme has been approved to extend financial support to poor and downtrodden class of the province.

Adviser said that around 49 percent people in KP have been living below the poverty line. “The death of a breadwinner pushes whole family into financial crisis,” he said.

“The government will extend Rs. five lac financial support to a family on the death of a family member over 60 years of age,” Barrister Saif said.

“In case of the demise of a family member below 60 years, the family will be provided financial assistance of Rs. one million,” he further said.

He said the loss of life has been irreparable but extending financial help is major step for sustenance of an affected family.

KP government also considering over proposal of establishing an insurance company on the provincial level, he said.

“This scheme will be a key milestone towards a welfare state in the province,” he added.