The government of the Tibet Autonomous Region said Thursday that all local residents and clergy will be offered free life and accident insurance as part of the social security program.

Under the program, the government will earmark 44 million yuan ($7.05 million) each year to cover its urban and rural residents as well as registered monks and nuns, said Xiao Houguo, a social security official with the autonomous region's financial department.

The program, which has been in operation since October 18, will give a death and injury benefit up to 50,000 yuan.

The annual premium of 11.5 yuan will be paid by the government.

The premium will also provide additional health insurance of up to 10,000 yuan.

Global Times - Xinhua