Kerala launches ‘Rakshakavacham’ accident insurance scheme for private sector workers
GS2Polity · Governance · IR· Vulnerable sections (SC/ST, minorities, disabled, elderly, children)· Prelims·
Why in news
Kerala launched the 'Rakshakavacham' accident insurance scheme to provide financial support to families of deceased private sector workers.
Background
The scheme provides ₹5 lakh as immediate assistance upon accidental death of a worker. It is implemented by the Comprehensive Health Insurance Agency of Kerala (CHIAK) for workers enrolled in the Wage Security Scheme.
Facts for Prelims
- SchemeRakshakavacham: An accident insurance scheme for private sector workers in Kerala
- FactThe scheme aims to cover 25 lakh workers
- FactAnnual contribution for the scheme is set at ₹150
- BodyCHIAK (Comprehensive Health Insurance Agency of Kerala) is the implementing body
For Mains
Q. Discuss the importance of social security frameworks for informal and private sector workers in India's evolving labor landscape.
Dimensions to cover in your answer
- Coverage gap: Difficulty in reaching unorganized workers outside formal wage security schemes
- Fiscal sustainability: Balancing low-cost annual contributions with high-value immediate death benefits
Keywords: Social Security · Labor Welfare · Risk Mitigation · Informal Economy · Public Policy
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