The insurance industry in Beijing is making efforts to promote vaccination among the local elderly by launching an insurance program for vaccinated people aged 60 and above, the Beijing banking and insurance regulatory bureau told media.

It will be paid by the government with a cap of 500,000 yuan ($74,200) in personal liability.

The program can help eliminate doubts on the older population about getting a shot and boost the vaccination rate among the group.

According to the Beijing health authorities, the capital has administered nearly 62 million doses of COVID-19 vaccines to more than 23 million people as of Wednesday.

A previous announcement said that the vaccination rate among people aged 60 and above exceeded 80 percent in April.

Outbreaks in Shanghai, Beijing and Jilin have proved that elderly people are of high risk of getting serious disease or even die with COVID-19. Experts noted that vaccination can significantly reduce the incidence of severe illness and death among seniors but they have concerns over the side-effects of the vaccines as many seniors have underlying diseases and some believed that the pandemic has gradually improved and do not need to be vaccinated.

Insurance products were also launched for employees of small and micro companies in Beijing that had to shut down due to anti-epidemic measures to guarantee they have a basic support, media said.