Group Medical Insurance for Teachers & Staff
In a landmark first of its kind project, the VMAA envisaged a Health Insurance scheme for the teachers and staff of Vidya Mandir during the Golden Jubilee year of 2005. A group health insurance policy with a Rs 50,000 cover was taken for all staff and teachers over the age of 45 years and with 10 years of experience at Vidya Mandir. The criteria was chosen then based on the existing funds, the fact that health problems are more likely over 45 years and 10 years in an institution would make them familiar to a wider group of alumni. The number of people covered under this scheme has increased steadily and the VMAA currently covers over 160 people. The quantum of cover has also been increased to 1 lakh per person per year. A large number of our teachers and staff have benefitted from this scheme which has been a of great help in their time of need. They have been deeply appreciative of our effort and taken pride in choosing our insurance over any other policies they have had as it is from their students.
The premium for this scheme has also steadily increased every year due to new people joining and the increasing age of the existing group. The premiums are currently being paid by the interests from a separate corpus, specially created for this purpose. This corpus has been supported by various batches of alumni who have generously contributed by collecting for the same during their reunions. We would like to increase the cover, include more people and keep a good thing going longer. We welcome donations for this endeavor and appreciate contributions to healthinsurance corpus from individuals and batches.