Insurance to Members:
During the financial year 2016-2017 we have settled a sum of Rs.67,20,000/- to 224 members’ natural death. The sum assured of Rs.30,000/- each, was settled to their nominee’s bank account through LIC of India.Rs.11,25,000/- was settled to the member’s nominee for the accident death of 15 members. The sum of Rs.75000/- each was credited to their nominee’s bank account through LIC of India.
Mr.Sivanandhan, Trustee, Mr. Sankar, FC and Mr. TS. Sasikumar SDM Tirunelveli.
Rs.75,000/- Insurance Paid: –
Mrs. M. Duraichi, was lived with Husband Mr. Murugan, and their Son and Daughter at South Agesthiyarpuram, village, near Papavinasam. Two years ago she joined as a Member in Mahasemam Trust, Kadayam Branch, Center No.138 at her village.
She was doing Mango sales, to support her husband’s whole sale business. So, she got Loan 15,000/- to develop her existing business. In the meanwhile, she met with an accident and passed away on 08.03.2015. After completing the formalities of claiming the insurance amount, her husband, nominee, got the claimed amount of Rs.75,000/- from the insurance company.
During the special meeting the nominee, Mr. Murugan, has received the insurance amount from the SDM, HR Manager, Legal Advisor, Branch Manager, FDO, Center Leader and Members. Before he got the amount, the center members and Mahasemam employees were convey a minute silence for her death.
Insurance to Nominees:MMahasemam
Trust has tied up with insurance companies like Life Insurance corporation of India, to provide insurance cover to its clients,staffs and cattle.Mahasemam has covered insurance to its 14,88,820 clients.If the client diseased, the Organisation Paid to client’s spouse / nominee, RS.66,80,000/- with the help of Insurance companies.Whereas 668 familes has got Rs.10,000/- each . .
There was a sum of Rs. 66,80,000/- was settled to our Members for their Spouse / Nominee’s death (668) during the FY 2016-2017 through our members bank account.
All Staff were covered insurance both life and accidental benefit scheme. We deeply regret to our employee MR.P.Marimuthu-FDO was expired on 04.07.2016. The Family Members Were Suffered and Struggled the Sudden Diminish of Mr.Marimuthu.We Settled his PF,Gratuity and Insurance amount of the maximum claim of Rs.1,00,000/- (one lakh rupees) through IFFCO-TOKIO Insurance Company.The amounts Were Distributed Through Mr.H.Sivananthan, Trustee to Mr.P.Marimuthu’s Parents.
Mahasemam has tie up with Insurance Company, to provide insurance to Cattle. The Insurance coverage for cattle is up to 3 years and the maximum claim amount is Rs.25,000/- (Rupees Twenty Five thousand). Mahasemam also arranged to get cattle loan subsidy up to Rs.1154 to member’s benefit.