LIC Bima Gram - Village Parasrampura / Talhan

The Bima Gram (Insurance Village) concept is a new holistic insurance coverage scheme launched by LIC and other private life insurance companies during 2002-03 for propagating the concept of insurance in rural areas.

This scheme envisages the inclusion of at least 75 per cent households in the village under insurance coverage besides promoting the socio-economic welfare of village community.

100 new policies should come in from the village in a financial year in which the village is to be declared a bima gram. Village Parasrampura has been declared a Bima Gram.

To be a 'bima gram', the village should be a rural centre as per the definition of IRDA with a minimum population of 1000 but below 5000. The number lapsed policies issued prior to the current financial year should not be more than 20 per cent at that time when the village is to be declared as a bima gram. Grants of 22.5 per cent of the premium collected from the village or Rs 35,000, whichever was less are given for community development activities to be carried out with collective responsibility of villagers.

The LIC disburses the amount of incentive to the sarpanch of a village only after getting a certificate from the LIC branch manager under which the selected village falls.

The community development activities include up keeping and renovation of school buildings, purchase of furniture for schools, village sanitation, drinking water, solar street lamps, up keeping of community hall, up keeping, renovation & rejuvenation of religious and holy places, forestation, soil conservation, protection and promotion of culture heritage, awareness about ill effects of social vices & superstitions & de addiction from drugs and alcohol.