PM Awas Yojana 2021: Another big facility can be found in the Pradhan Mantri Awas Yojana. CII has demanded to make the facility of life insurance mandatory in this.
PM Awas Yojana 2021: A big news has come out under PM Awas Yojana 2021 . Industry organization CII has demanded from the government that the Pradhan Mantri Awas Yojana should be started again and the facility of life insurance should be made mandatory in it. Along with this, a demand has also been made to provide compulsory insurance to the people getting the loan of Pradhan Mantri Awas Yojana (PMAY).
Home for all Actually, the government has planned to provide houses to all the people of the country under the Pradhan Mantri Awas Yojana (PM Awas Yojana Benefits). Under this, if the borrower dies or becomes disabled, the government has also been demanded to give the benefit of life insurance along with the loan to make his dream come true.
Most prominent among the government’s missions
Pradhan Mantri Awas Yojana PMAY is one of the major schemes of the Central Government (PM Awas Yojana Eligibility). Under this, the central government has set a target of providing housing to all by the year 2022 i.e. till the completion of 75 years of the country’s independence. To fulfill this goal, CII has demanded the government to provide the benefit of life insurance to the beneficiaries along with the housing scheme.
What is the demand of CII
If the government accepts this demand of CII and the list of PM Awas Yojana 2021 is restarted with life insurance, then it will be a big achievement for the people. Till now there is no facility of any kind of cover for the borrower in this scheme. There is no provision of built-in insurance plan with the loan. CII says that if you get the benefit of insurance along with the loan of PM Awas Yojana, then in adverse circumstances the cost of the house will also continue and the construction work of the house will not stop.
Benefits of life insurance
CII Director General Chandrajit Banerjee said, “There is a need to revamp the PMAY scheme, with which the benefit of credit linked insurance or essentially life insurance can be extended to every borrower. This will not disturb the goal of ‘Housing for All’. The construction of the house will not stop even on the death or disability of the borrower. There should be some arrangement that families get houses, not loans. Life insurance can play a big role in this. Providing cheap houses is the biggest need for rapid development in the country. Under PM Awas Yojana, if the borrower dies, the construction of the house will stop and the effect of the loan will be different. The family will also have trouble.
Insurance is more needed in Corona
There has been a serious impact on the livelihood of the people during the Corona period. The second wave saw a rapid increase in the death rate. In such a situation, financial help is very important. Financially troubled people can get big benefits by giving benefit of life insurance with PMAY scheme. Under the scheme, the government can fix a standard premium for life insurance if it wants. Through this, the insurance company can give credit cover to the beneficiaries of PM Awas Yojana. The convenience should be that while taking a loan equal to the loan amount, the benefit of insurance cover should be given.
