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Insurance |
Mahasemam Trust has tied up with insurance companies like Bajaj Allianze to provide insurance cover to its members.
Bajaj Allianze
A premium of Rs.25 is paid by Mahasemam on behalf of the member. Compensation is given in case of the death of a member or her husband.
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| Compensation given on |
Active * Member |
Savers |
Active member who has repaid the first loan and waiting for second loan |
| Death of Member |
Rs.10,000 |
Rs.2000 |
Rs.5000 |
| Death of Husband |
Rs.2000 |
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*Member who has taken loans.
Cumulative Death Compensation has been done for 524 members. Trust has paid Rs.4‚257‚775 as insurance premium to Bajaj Allianz. |
ICICI LOMBARD
A micro health insurance cover is being extended by Mahasemam Trust in collaboration with Meenakshi Mission Hospital and Research Center and ICICI LOMBARD‚ a major player in private insurance sector. The premium of Rs. 125 will be paid by the Trust, thereby ensuring it to be a totally free of cost facility for the beneficiary.
Mahasemam members can avail the medical facility at the hospital free of cost by just producing their identity card. |
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At present the Trust has provided insurance cover to 30,498 members from 10 Branches, in and around Madurai. The same facility will be extended to all the members in a phased manner. The Trust has paid Rs.3‚812‚247 as premium to ICICI LOMBARD.
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