First time in the state, Bangalore University has decided to introduce a medical insurance policy for its post-graduate students from this academic year. Students need not to invest in extra money to avail of the insurance benefit, as the university will be paying the entire premium amount. National Insurance Company (NIC) will be partnering with Bangalore University in providing medical insurance to students, offering health and accident coverage to postgraduate students. The entire premium amount will be borne by the university and students need not feel its burden at all. “An annual premium of `582 will be paid by the university for every student and in all about `20 lakh will be spent under this head in a year, as stated by Dr N Prabhu Dev, vice-chancellor, BU. The proposal to introduce medical policy for the PG students was placed before an academic council meeting of the university on Wednesday. The council unanimously agreed to the proposal. This scheme will go by the name 'Vidyarthi Medical Policy for Students'. Under the policy, the postgraduate students of the university are eligible to get medical benefit up to Rs50, 000. About 3,500 students will be covered by the policy. In case of a student's death, the university will give Rs50, 000 to his/her family. The scheme will also provide education expense in case a student loses his or her family's breadwinner. In such a case, the student will be provided Rs1 lakh to continue his/her studies.