The Hindu Business Line has carried the news item that those who will buy TVS auto rickshaw will get health insurance policy for sum assured of Rs 30,000
TVS Motor Company (TVSM) has formally launched its debutante autorickshaw TVS King, in LPG and petrol versions, marking its foray into the three-wheeler market. During the launch TVSM has also announced several welfare schemes for the autorickshaw drivers and their families, including a one-year free accident and healthcare policy. TVSM has tied up with few insurance companies for this and the policy would cover the owner and his family against medical care for up to Rs 30,000 per annum on a floater basis. The owner will additionally be covered by a personal accident policy for Rs 1 lakh.
We welcome this initiative of TVS .
The concept of insurance is, generally speaking, a safety measure against misfortune. The nowadays professional indemnity insurance, used under different forms these days, has been practiced thousands of years ago, as people became aware that no matter if they traded goods, slaves, or they simply needed a large sum of money, they had to insure their merchandise or property somehow, in order to protect themselves and their business.
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