Charity insurance to help relieve poverty caused by major disease
A public welfare insurance plan codenamed “breadwinner” has been launched to help relieve poverty that is caused by families’ sick breadwinners.
The new insurance plan, set up by the China Foundation for Poverty Alleviation and Jack Ma's Alibaba and Ant Financial, targets people aged 20-60 who are registered as poor families. It is estimated that some 10 million people will benefit from the plan by 2020.
In Xishui County, Guizhou Province, where the pilot program was launched, one can enjoy as much as 10,000 RMB under the plan. If hospitalized, more than 40 percent of one’s treatment fees can be covered by the plan, with a deductible of 3,000 RMB. How much the plan covers might vary from region to region.
According to Ant Financial, the insurance plan is partly covered from public fundraising through Alibaba and Ant Financial, which allows people to donate money via Alipay. The capital pool is also supported by donations from companies, government bodies, and NGOs.
“After studying years of poverty alleviation work, we’ve noticed that major diseases can cause poverty. One can fall into poverty again when a disease hits. There are many support programs offered by the government to help poor people, but a sick person doesn’t qualify. They can’t change their situation for the better until they’re better,” said Liu Wenkui, secretary general of the foundation.