PESHAWAR – The Khyber Pakhtunkhwa is now working on an innovative public welfare plan to provide free life insurance to all citizens of the province.
It comes after the successful implementation of universal health coverage in the province. The life insurance initiative aims at arranging financial security for disadvantaged and vulnerable segments of society.
A press release issued by the government states that nearly 49 percent of the total population in the province lived below the poverty line, where the loss of a family member often serves severe financial setbacks to the bereaved family.
Keeping in view of the hardships of the affected families, the provincial government is considering providing financial relief to them.
Up to Rs1 million Insurance in Khyber Pakhtunkhwa
Under this initiative, bereaved families would receive Rs500,000 in wake of financial assistance for the death of individuals aged 60 or older, and up to Rs1,000,000 for those younger than 60, the press release said.
In order to execute the program, the KP government is planning to establish a provincial insurance company to manage the mechanism efficiently.
