New Delhi: Pursuant to Prime Minister Atal Bihari Vajpayee's announcement in January, an insurance scheme for Non-Resident Indians (NRIs) - "Pravasi Bharatiya Bima Yojana" - will be launched on December 25 this year.

The scheme would offer insurance cover of a minimum Rs 2 lakh payable to nominee and legal heir in the event of death or permanent disability of any Indian emigrant going abroad for employment purpose, an official release said.

It would also offer a medical cover of a minimum Rs 50,000 as cashless hospitalisation or reimbursement of actual ailment of the emigrant.

Moreover, the policy would provide a minimum Rs 20,000 maternity benefit for women emigrants.

The family of the emigrant consisting of wife and two dependent would also be entitled to a maximum Rs 10,000 hospitalisation cover.

In the event of death of the emigrant, the scheme offers cost of transporting the dead body and one-way airfare of one attendant.

The insurance scheme was first announced by the Prime Minister on Pravasi Bharatiya Diwas on January 9, 2003.

Accordingly, the scheme was framed in consultation with Ministry of External Affairs after presentations from New India Assurance, Bajaj Allianz and ICICI Lombard.

PTI