The Khyber Pakhtunkhwa (KP) government has introduced a new life insurance scheme aimed at providing financial security to the people of the province. This initiative is designed to support families facing financial hardships due to the loss of a breadwinner. The announcement was made by Barrister Dr. Muhammad Ali Saif, the Advisor to the KP government on Information, who stated that this program would extend the government’s commitment to the welfare of its citizens, following the success of the universal health coverage scheme.
This article will explain the details of the life insurance scheme, its benefits, eligibility, and how it will help people in KP, especially those living under the poverty line.
| Point | Details |
| Financial Support Amount | Rs. 500,000 for those over 60 years; Rs. 1,000,000 for those under 60 |
| Target Beneficiaries | Families of deceased breadwinners |
| Support for Poor Families | Targeting families below the poverty line in KP |
| Welfare Goal | Financial security for families after the loss of a member |
Contents
Life Insurance Scheme
The life insurance scheme announced by the KP government is a significant step towards providing financial security to families who lose their primary earners. The scheme is particularly aimed at those who are most vulnerable—those living below the poverty line. Barrister Dr. Muhammad Ali Saif emphasized that nearly 49% of people in KP live in poverty, and the loss of a breadwinner often throws these families into severe financial distress. The scheme aims to cushion the financial impact of such tragedies by providing financial support to families in need.
Financial Assistance for Families
The families of those who have passed away will receive financial support from the KP government through the life insurance program. If the deceased family member was above 60 years old, the family will receive Rs. 500,000 as financial support. However, in cases where the deceased was under 60 years of age, the family will receive a larger sum of Rs. 1,000,000. This assistance will help cover funeral costs, medical bills, and other immediate financial needs of the family during a difficult time.
Benefits for Low-Income Families
The scheme specifically targets low-income families, who often lack the resources to deal with the sudden loss of a family member. With 49% of KP’s population living below the poverty line, many families struggle to meet basic needs, and the loss of an income earner can push them into a financial crisis. This life insurance scheme aims to alleviate some of this burden by providing financial support when it is needed the most. The program will not only offer immediate financial relief but also promote a sense of security for families living in precarious financial conditions.
Role of the Government in Welfare
The KP government has taken this step to promote the welfare of its citizens, particularly those who are most in need. The government has recognized that while the loss of a loved one can never be replaced, financial support can provide families with the means to rebuild their lives. By introducing this life insurance scheme, the government is reinforcing its commitment to becoming a welfare state, where citizens can rely on the state for support in times of hardship.
The life insurance scheme is an extension of the KP government’s broader welfare efforts, which include the universal health coverage scheme. This new initiative is seen as a key milestone towards creating a safety net for the province’s vulnerable population.
Future Plans for Insurance in KP
Barrister Saif added that the government is looking at the potential of starting a provincial insurance firm in addition to the life insurance plan. This would further strengthen the welfare infrastructure in the province by providing more comprehensive insurance solutions to the citizens of KP. The government aims to make sure that more people can benefit from insurance coverage in the future, which would also help in improving the overall standard of living for low-income families.
Conclusion
The life insurance scheme introduced by the KP government is a much-needed initiative for families who face financial hardships after the loss of a breadwinner. With financial assistance of up to Rs. 1 million, this scheme provides vital support to families in their time of need. This scheme is also part of a broader strategy to build a welfare state in Khyber Pakhtunkhwa, where the government takes responsibility for the well-being of its citizens. Through this initiative, the KP government is aiming to improve the quality of life for its vulnerable populations and provide them with the financial security they deserve.
Also Read: KP Government Launches Low-Cost Housing Scheme: Details of the First Phase
FAQs
1. Who is eligible for the life insurance scheme in 2024-25?
The scheme is available to families in Khyber Pakhtunkhwa who have lost a breadwinner, with the amount of support varying based on the age of the deceased.
2. How much financial support will families receive under this scheme?
Families will receive Rs. 500,000 if the deceased was over 60 years of age, and Rs. 1,000,000 if the deceased was under 60.
3. Is the life insurance scheme available only to poor families?
Yes, the scheme targets families living below the poverty line in Khyber Pakhtunkhwa, providing them with financial security in case of the death of a breadwinner.