Chief Minister Pinarayi Vijayan announces insurance coverage for Life Mission houses
Thiruvananthapuram: Chief Minister Pinarayi Vijayan stated that the government has decided to offer insurance coverage for houses constructed under the Life Mission project. Each house will get a coverage of up to Rs 4 lakh. The scheme is implemented by the state insurance department in association with United Insurance company.
The government will pay the premium for the first 3 years. This expenditure will sum to Rs 8.74 crore for 2,50,547 houses.
The Chief Minister stated that the consumer can renew the insurance themselves after 3 years. The CM also added that the cabinet has approved to take loan worth Rs 1,500 crores from HUDCO for construction of houses in the third stage of Life Mission project.