The Kudumbamitra Benevolent Society is an initiative launched by the Bharateeya Vyapaari Vyavasaayi Sangham (BVVS) to ensure the financial security and well-being of its members, their families, and employees. The scheme aims to provide a safety net for its members and their loved ones in the event of unexpected events or demise, and to support them in times of need. The Bharateeya Vyapaari Vyavasaayi Sangham (BVVS) considers it their responsibility to protect and support the families of businessmen and entrepreneurs who have taken on the responsibility of providing for their families, in the event of unexpected events or demise. This highlights the organization's commitment to ensuring the financial security and well-being of its members and their families. This scheme aims to provide financial support and confidence to the family of a businessman or entrepreneur even after their demise, ensuring their financial security and well-being. The scheme aims to provide a sense of security and protection to the family, ensuring that they are able to maintain their standard of living even in the absence of their breadwinner. This benefit is only available to those who enroll as members of this scheme. All members contribute to a corpus fund, which is the main source of funding for this scheme. By pooling their resources together, members become mutual partners in supporting each other in times of need. To enroll in the scheme, each member must contribute a one-time payment of Rs 3000 as a Membership fee and Rs 1000 as a Subscription fees, totaling Rs 4000.. This payment is mandatory for all members who wish to join the scheme. If a member passes away after completing 3 months of membership in the scheme, their nominee will be eligible to receive the death benefit or mortality assistance. If a member passes away within 2 years after completing 3 months of membership, their family will receive a benefit of Rs 5 lakhs.
Here's a breakdown of the benefits:
- If a member passes away within 2-10 years after enrollment, their nominee will receive Rs 10 lakhs.
- If a member passes away after 10 years of enrollment, their nominee will receive Rs 15 lakhs.
This indicates that the benefit amount increases as the membership tenure increases.
After 3 months of enrollment in the scheme, members will be eligible for medical assistance ranging from Rs 25,000 to Rs 2,50,000, depending on the financial capabilities of the society. This means that members can receive financial support for medical expenses, subject to the society's financial limitations.