Chennai: On Wednesday i.e. on September 8, 2010,University of Madras (UOM), popularly known as Madras University, has announced the introduction of 'Students Safety Insurance Scheme'.
The University hasintroduced the scheme to provide insurance to students through the United India Insurance Company Ltd. In order to avail the insurance coverage under the scheme students would be required to pay a premium of Rs.39 per year. In addition, the scheme would also cover hospitalization charges of student’s upto Rs 50000 and a compensation of Rs 1 lakh for the student's family in case of death.
Deputy General Manager of United India Insurance Company Ltd., M. Elango informed that only accident cases will be considered for providing the Rs 1 lakh compensation to the family of the student in case of death. In case of accidental death of a parent of a student, the student will be provided with a compensation of Rs 50000.
Students of the University and all its affiliated colleges can avail the insurance scheme.