The compensation standard for the elderly insurance is: 12,000 yuan ($1,827) per person for accidental death; 1,200 yuan to 12,000 yuan per person for accidental disability or scalding; 3,000 yuan medical fee per person for accidental injury; 30 yuan hospitalization subsidy per person every day for accidental injury (up to 90 days).

The new insurance period is set from May 1, 2016, to April 30, 2017.

Two years ago, the city started to launch elderly insurance under the support of the local government. Local residents above 60 years old will enjoy medical subsidies for accidental injuries and receive compensation according to the insurance agreement.

In the last two years, the elderly insurance policy has played a major role in elderly care and contributed greatly to social harmony.

(Source: China Daily)