The government has decided to bring another 50,000 students, this time from madrasas and technical schools, under the Bangabandhu Education Insurance program in an effort to support poverty-stricken families and reduce dropouts.
Previously, 50,000 students from 64 districts had been brought under the scheme after its inception in early 2021, on the occasion of the birth centenary of the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman. The students were from primary, secondary and technical schools.
The Directorate of Technical Education and the Directorate of Madrasa Education have been asked to select one institution in each district and provide information on the students from the institutions who are going to be covered by the new plan.
Deputy Secretary of the Technical and Madrasa Education Division Kamrul Hasan confirmed that a list of students from one technical school and one madrasa in each district has been sought for the insurance scheme in the fiscal year 2022-2023. The information has to be submitted by January 22.
On December 6, the Insurance Development and Regulatory Authority (IDRA) ordered all public and private life insurance companies in the country to offer the scheme. The insurance program had been piloted for a year by the state-owned Jiban Bima Corporation.
Under the scheme, parents of students between the ages of three and 17 years are covered for a premium of Tk85 per annum. In case of unexpected death of the guardian or certain accidents, students will be given education insurance benefits up to the age of 17 years at the rate of Tk500 per month.
A student must subscribe to the insurance program through their parents or a legal guardian. The age of the guardian should be 25 to 64 years. The policy expires on the child's 18th birthday.
