The Budget 2017 promise to provide a free insurance of Rs. 200,000 for 4.5 million school children in the age of 5-19 years will be implemented through the Sri Lanka Insurance Corporation Ltd., the government revealed today.

The proposal by Education Minister Akila Viraj Kariyawasam to implement the insurance cover subject to an annual premium of Rs. 2,348 million, as recommended by the Cabinet Appointed Procurement Committee, was approved by the Cabinet of Ministers.

Accordingly, the government has allocated Rs. 2,700 million for the following:

OPD treatment - Rs. 10, 000/=

Hospitalization - up to Rs. 100,000/=

Sudden death of a pupil - Rs. 100,000/=

Sudden death of a parent - Rs. 75,000/=

Total Disability - Rs. 100,000/=

Partial Disability - Rs. 50,000/= to 100,000/=