Nov 242015

Aam Aadmi Bima Yojana

Aam Admi Bima Yojna, is a social security scheme for the rural landless workers. The policy has been structured for the workers under or just above the poverty line, like beedi workers, cobblers, lady tailors, physically handicapped self-employed persons, rickshaw pullers, safai karamacharis etc.

Aam Aadmi Bima Yojana

As per the policy, the sum assured amount is 30000/- INR on natural death.The next slab of 37500/- INR is the assured amount for disability due to an accident, caused by the loss of one eye or one limb. And the last slab is 75000/- INR for death because of an accident or permanent disability. The permanent disability criteria is taken into consideration when the victim has lost two eyes or two limbs.

The best part of this policy is, that the insured will not be liable to pay any premium. The premium which is of INR 200 per person per annum will be equally shared by the Central Government and the State Government. In order to avail the benefits of this policy, the insured should fall under the age bracket of 18 yrs to 59 yrs.Valid documents for age proof such as ration card, birth certificate, educational proofs, voter id and certificate issued by the medical officer in primary health center are required.

Scholarship facility is a free add-on benefit under this scheme. This will be provided to a maximum of two children of the insured studying between 9th to 12th Standard @ Rs.100/- per month for each child. This will be payable half yearly from 1st July and 1st January every year .To avail this benefit ,the insured shall fill up an application and  submit it to the Rural Nodal Agency. This agency will  identify other scholarship students  and submit the report to the concerned department. Once all procedures done, every half year LIC will credit the scholarship payment to the account of the beneficiary student.

For settling death and disability benefits, the P&GS Unit of LIC will make direct payment to the beneficiaries through NEFT or through directly transferring into their bank account. In case of death, documents like death registration certificate, copy of FIR, post-mortem report, police inquest report and police conclusion report are required to be submitted. Whereas for disability benefits documents like documentary evidence of the accident, the Medical certificate from a government civil surgeon or qualified government orthopaedician certifying permanent total/ partial disability due to an accident, stating loss of limb/s of the member covered under the scheme is required.

Overall the policy has been launched keeping in mind for the amelioration of underprivileged, mostly deprived section of the landless workers in our country.

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