KP Government Groundbreaking Free Life Insurance Scheme Set to Launch
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The Khyber Pakhtunkhwa (KP) government has made a landmark decision to launch a free life insurance scheme for families starting January 1, 2025. This initiative aims to provide financial security to families in case of the death of their head of household, ensuring stability during difficult times.
The scheme was announced during a key meeting chaired by KP Chief Minister Ali Amin Gandapur, where various developmental projects were also discussed.
The government has allocated a staggering Rs4.5 billion annually to fund this life insurance program, reflecting its commitment to public welfare.
Eligibility for the Free Life Insurance Scheme
Families will qualify for financial assistance under the life insurance scheme if the head of the family passes away in either:
- A government hospital, or
- A hospital affiliated with the health card panel.
This eligibility criterion ensures that the program reaches those in genuine need, utilizing existing healthcare infrastructure for verification.
How Much Will Families Receive?
The compensation under the scheme varies based on the age of the deceased head of the family:
- Under 60 years of age: Families will receive Rs1 million.
- Above 60 years of age: Families will be provided with Rs500,000.
This tiered system balances the financial assistance provided to families while addressing varying life circumstances.
Provincial Islamic Takaful Insurance Company to Be Established
As part of this initiative, the KP government will establish the Provincial Islamic Takaful Insurance Company within the next three months. This move aligns with Islamic principles and is designed to ensure a transparent and inclusive process for managing the life insurance scheme.
The chief minister has issued firm directives for the timely establishment of the company, emphasizing that the provincial government’s transmission line Lot-1 project must also be completed within the given deadlines.