Medical Insurance, Life Insurance, Income Tax and Microfinancing Schemes


 1. Janata Personal, Accident Policy: After a lot of consultations and discussions with the New India Assurance Company we convinced the authorities and requested them to enable many people to get into this policy which is finally fixed at Rs. 222/- ($4.44)for five years. The policy is acceptable only for a group of 1001 members which is not possible by any agency because it is not profit oriented, therefore CPOI initiated to accept any number of applications from different organizations to club them up, make a group of 1001 and issue certificates to the organizations separately as per their groups. All the organisations can directly contact the company regarding claims and also give information to CPOI district co-ordinators which will inturn interact with Assurance Company to see that the claim is settled at an early date.

 Where a person has to pay Rs. 222/-($4.44) for a period of 5 years i.e. 1825 days which comes to 12 paise ($ 0.0024) per day, in case of death of the insured person an amount of Rs. 1 lakh ($ 2000) will be paid to the spouse of the diseased, in case the insured is totally paralyzed he will still be paid Rs. 1 lakh ($ 2000), in case the insured partially paralyzed, losses one eye or any other part of the body he will still be paid a sum of Rs. 50,000 ($ 1000). This policy is very useful particularly to the under privileged people of our region. The family is totally disturbed as the bread earning person is no more and life becomes very miserable as there would be nobody to support them financial or morally where most of them take the easiest way to overcome the situation by suicidal deaths.

Looking at all the above factors the policy would be definitely a boom for all those families who face this type of situation mentioned above to overcome, sustain and stand in this society without depending on others.

2Universal Health Insurance Scheme.

 This scheme enables a family of five or seven i.e. consisting of the insured, spouse, first three children would be Rs. 548/- ($10.96) and along with dependant parents would cost them Rs. 730/- ($14.6) per year can be renewed every year, i.e. Rs. 2/- per day ($0.04) which anybody in this society can pay and have a benefit of Rs. 30,000/- ($600) per year. This can either be used by an individual or all the seven members of the family any number of times in a year till they utilise the entire amount of Rs. 30,000/-($600).

Most of the families below the poverty line live in unhygienic conditions because of their financial crises and are prone to a number of diseases which becomes so difficult for them to pay for their medical expenses which may be more than Rs.  30,000/- ($600) per year which they borrow on high rate of interest and end up into deep problems and thus we see many suicidal deaths. People are so ignorant about such policies which are available to them, because of their ignorance or there is no awareness given by the companies, public servants, politicians, social organizations etc. CPOI has taken up onto its shoulders to protect the people from some of the dangerous situations that they are facing today and to bring awareness among this section of people who cannot afford to pay their medical bills. 

Under this policy a person can get treatment done in any nursing home/hospital which has a minimum of10 beds in any part of the country which covers room rent, boarding expenses, ICU facilities, doctor fees, anesthesia, blood, oxygen, other charges, surgical appliances, medicines, drugs, diagnostic material, x-ray, dialysis, chemotherapy, radiotherapy, cost of pacemaker, artificial limbs. One has to be admitted to a hospital for a minimum period of 24 hours.   This is not applicable to specific treatments like dialysis, chemotherapy, radiotherapy, eye surgery, kidney stone removal, D & C etc.

3. CPOI encourages every individual to have a “pan card” and to file “income tax returns” of their income to the income tax department to be benefited in the long run. People have a wrong notion that income tax is only for rich people but it is not so, it has more benefits for lower and middle class people where most of the people are not employed in the government or semi government organizations. Hence they do not have any proof of income as such they are not entitled for any type of loan i.e. personal loan, study loan, housing loan, marriage loan, vehicle loan or any other gadgets like T.V., Fridge, furniture, and many more things because  they do not have any proof of income like the government, corporate or semi government employees who have a proof of income and are eligible for all the above facilities, giving their children the best opportunity to grow and acquire great positions in the society.

  To overcome all these problems and to have a proof of income, to avail all the benefits mentioned above it is a must to file minimum three years income tax returns. Whatever type of work one is into, may be a daily labour, a plumber, an electrician, a painter, a fruit vendor, an auto driver, a truck driver, a car driver, a watchman, a house maid, a cook or any type of business. The first thing you have to do is apply for your pan card, open an account in an nationalized bank and then approach a known chartered accountant who would guide you to file your returns which may cost both of you around Rs. 1,000/- ($ 20) per year. (Individual or it is always better to file returns of both wife and husband which will enable you to have more benefits). Life would definitely be very different and wonderful as many facilities are made available because one has proof of income and are eligible for all the facilities mentioned above. The best benefit one can avail is a housing loan, a vehicle loan, and a study loan for children’s higher education to give them a bright future.

   We are sure once you go through all the above facts you would realize how many great opportunities you might have missed in your life and to your dear ones. We wish all our readers would take it serious and file the returns, open a bank account and transact continuously which would be a proof of income also to enable you to avail the loans easily. We will also guide or assist you in the process provided you approach us.

 4. Once the above process is done there are so many government projects/schemes which can be availed by all sections of people may be educated or illiterate.


 Business opportunities for lower and middle income group people who are interested in investing between Rs. 25, 000/- ($ 500) to Rs. 1,00,000/- ($ 2000) can avail a loan upto Rs. 5,00,000/- ($ 10000) without any co-lateral security as per the norms of RBI which will be facilitated through finance corporations and sanctioned by nationalized banks. There is a possibility of getting subsidy of 25 to 40% of the project amount either from NABARD or the Andhra Pradesh Industrial Infrastructure Corporation (A.P.I.I.C.) to start any type of business like establishment of shops, workshops, agro product manufacturing, poultry farming, dairy farming, chilling units, food processing, hotels, travels, catering services.

 Christian Chamber of Commerce and Industry is looking at young entrepreneurs from lower and middle class families to establish and enter into business by encouraging and supporting by giving information regarding the State and Central Government facilities extended to them. There is lot of fund available with both the state and central government which is not utilized by the business circle because of lack of information, the Ministry of Small and Medium entrepreneurs (MSME) which facilitates young entrepreneurs those who don’t posses collaterals security by paying 1% of the security amount. They extend the require collateral. With this any entrepreneurs who is facing the problem of security can easily overcome and start any type of industry and avail subsidy upto Rs. 50,00,000/- ($ 10000).

 As NGO’s (Non Governmental Organisations) who are registered as society should posses three income tax assessments along with their activities to enable them to avail the facilities under the micro financing or the umbrella programmes through NABARD or the minority finance corporation Delhi or through the nodal agencies.

Particularly for the small farmers who posses 2 acres land can immediately going for dairy project through NABARD where Rs. 5,00,000/- ($ 10000) is provided with a subsidy of Rs. 1,25,000/- ($ 2500) to start with minimum six HF cows and extended to twelve cows in the future. The State government is also extending Rs. 40,000/- ($ 800) per acre per year for rearing grass which need not be paid back. Thus the farmer who is not certain of this income on the agriculture can very comfortably earn a sum of Rs. 25,000 ($ 500) per month after all the expenses out of which around Rs. 9,000 ($ 180)  would be paid as EMI to the bank every month and would be left with more than Rs. 15,000/- ($ 300) for every six animals. Therefore the farmer makes more than Rs. 1,80,000/- ($ 3600) on every six animals per year which much more and certain than the agriculture income that he would earn per year. All this process would not require more than 2 people (both husband and wife). Hence forth extend the business as per their convenience and necessity.

We are also preparing a booklet in different languages to give awareness to people who are ignorant about the above facts.