- Launch date: 2nd October 2007
- Launch by: Government of India
Objective of this Scheme:
- To Provide Death and Disability Cover Between the Age Group of 18 Yrs to 59 Yr.
Facts:
- Fund is maintained by Life Insurance Corporation of India (LIC).
- Persons between the age group of 18 yrs to 59 yrs are covered, under 48 identified vocational/ occupational groups /rural landless households.
- Insurance cover for:
-
- Rs 30,000/- on natural death,
- Rs. 75,000/- on death due to accident,
- Rs. 37,500/- for partial permanent disability due to accident
- Rs. 75,000/- for total permanent disability due to accident.
- Also provides Scholarship of Rs 100 per month per child is paid on half-yearly basis to a maximum of two children per member, studying in 9th to 12th Standard.
- Rs. 200/- per beneficiary is annual premium of which 50% is contributed from the Social Security Fund created by the Central Government and maintained by LIC.
- 50% of the premium is contributed by the State Government / Nodal Agency / Individual.
| Name of the scheme | Aam Aadmi Bima Yojana |
|---|---|
| Lunched by | Government of India |
| Maintained by | Life Insurance Corporation of India (LIC) |
| Aim of this scheme | Provide Death and Disability Cover Between the Age Group of 18 Yrs to 59 Yr. |
| scheme will cover | on natural death Rs 30,000/- and death due to accident Rs. 75,000/- |
| scholarship worth | Rs 100 per month per child (half-yearly basis) |
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