Insurance scheme for property owners

The Municipal Corporation of Surat (SMc) has proposed a Citizens Security Insurance Scheme (CSIS) which is a first in Gujarat. In his draft budget for the year 2016-17, Municipal commissioner of the city Milind Torwane has recommended that CSIS will be started for all property holders aged between 18 and 70.

As per the scheme, once a property holder is insured, his nominee would get Rs. 2 lakh in case of accidental death. The insured would get Rs. 2 lakh if he or she suffers complete disability in an accident and Rs1 lakh in case of partial disability. The premiums would be paid by Surat Municipal Corporation.

CSIS benefit will be extended to all the 12.5 lakh registered property owners who fall within the limits of SMC. “Every year, over 325 people in Surat fall prey to accidents and this insurance will act as a social security for them,” Torwane said.