Highlights of Aam Aadmi Bima Yojana


Highlights of Aam Aadmi Bima Yojana

  • 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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