Kerala MSME Insurance Scheme 2023: Apply Now | Check Details

Here in this article, we are going to discuss the latest scheme program which was initiated by the government of Kerala named as Kerala MSME Insurance Scheme 2023, introduced on 13th October 2023. With the implementation of this program, the government will provide insurance opportunities to industrialists and those who are unemployed and willing to start their businesses. All the eligible candidates want to learn all the details about this scheme and how it works, so here we have mentioned all the important aspects of this scheme that will include some of its benefits, eligibility criteria, features, purpose, insurance coverage criteria, and much more. kindly read this article till the end and get all the relevant details from it.

Karnataka Bhagyalakshmi Scheme 2023

Kerala MSME Insurance Scheme 2023

The government of Kerala introduced the scheme for industrialists to provide them ease on losses that they often face in their work and due to that they face huge financial losses. With the implementation of this scheme, all industrialists will get a chance to pay only 50% of the premium and the remaining premium of 50 percent will be reimbursed by the government of Kerala. This is a better opportunity for the youth who are unemployed and looking forward to an opportunity to start their work, and it will also help in reducing the unemployment level of the state. So those beneficiaries who think they are eligible for this and willing to get this opportunity are advised to get all the details from it and then take any further steps.

Key Highlights of Kerala MSME Insurance Scheme 2023

Name of the SchemeKerala MSME Insurance Scheme 2023
Launched ByGovernment of Kerala
Launched On13th October, 2023
Launched ForIndustrialists
ObjectiveProvide Reimbursement in premium for the insurance
How to RegisterOnline
Official Website

Objective of Kerala MSME Insurance Scheme

The main objective of this scheme is to provide insurance facilities to all industrialists out there who have financial losses due to any circumstances and they have to pay a huge amount for it, but with these insurance facilities they only have to pay a 50% premium and the rest 50% will be paid by the government of Kerala. This is a great opportunity for all the citizens who have their businesses and those who want to establish one which will help in decreasing the unemployment level in the state.

Benefits of Kerala MSME Insurance Scheme

  • With the implementation of this scheme, all the industrialists will get a boost to the business owners which will help to make safe their business in various situations.
  • Under this, the candidates just have to pay only 50% premium of insurance, and the rest 50% will be reimbursed by the government.
  • This scheme intends to secure the future of employees and all the industrialists who are job givers to all the unemployed candidates in the state.
  • This scheme will not just focus on industrialists but it will also provide opportunities to all the young entrepreneurs of the state who want to start their businesses.
  • This scheme will help in reducing the unemployment level in the state by providing them opportunities in various fields.

Karnataka Airavata Scheme 2023

List of Insurance Providers

  • NICL – National Insurance Company Ltd
  • NIACL – New India Assurance Company Ltd
  • UIICL – United India Insurance Company Ltd
  • OICL – Oriental Insurance Company Ltd

Eligibility Criteria

  • To get this beneficial opportunity candidate should be a resident of Kerala state.
  • This scheme is only available for the industrialists and entrepreneurs of the state.
  • Candidates must have valid Udyam Registration to get this opportunity.
  • Sectors such as Trading, manufacturing, and service, are eligible for this scheme.
  • Candidates must have enrolled in any of these four insurance companies which is listed above to be eligible.

Required Documents List

  • Details of your Enterprise
  • Udyam Portal Registration Details
  • Mobile Number
  • Email ID
  • Bank Account Details for Premium Payment

Registration Procedure Under Kerala MSME Insurance Scheme 2023

  • To get registered under this scheme, candidates have to go to the Official Website of the scheme.
  • After this, you have to click on the Registration option and continue.
  • The registration form will appear on your screen, complete it go back to the homepage click on the Login option, and continue.
  • After that, you have to enter your application number and password on it and continue.
  • After successfully logging in, the application form will appear on your screen.
  • Now you have to provide all the necessary details on it such as Age, Gender, email ID, and Enterprise details like Name of the enterprise, Address, Type of Local Body, Category of Unit, Constitution, etc.
  • After that, recheck the details save it, and tap on the next option.
  • On the next page, provide your insurance details and then you have to pay your premium through online payment, and its done.

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