Aam admi bima yojana is social security scheme,launched in 2 october 2007.It is a result of merger of two major social schemes- Aam Aadmi Bima Yojana and Janashree Bima Yojana . The merged scheme is renamed “Aam Admi Bima Yojana” This scheme is designed for rural landless household. One earning member of the family(usually the head of the family) is covered under the scheme.The scheme covers natural death/accidental death, permanent total disability, and partial permanent disability.
eligiblity critiria for Aam Admi Bima Yojana:
The applicants should be aged between 18 and 59.
The applicant ideally should be the head of the family or one of the earning members of a below poverty line family (BPL) or marginally above the poverty line under identified vocational group/rural landless household.
Only one member in the family will be eligible.
Banefits of Aam Admi Bima Yojana:
Accidental death coverage
Disability coverage
Death due to natural causes
Scholarship benefits
The Central government and the state government both make an equal contribution of Rs.200 to the scheme
Features of Aam Admi Bima Yojana:
Fast assistance
Simple claim process
Enrolment process is easy
Sponsored premium
Documents required for Aam Admi Bima Yojana Application:
The following documentations are required to apply for this scheme:
- Income certificate
- Application form to add nominees
- Proof of address
- Proof of identity
- Application form
Aam Admi Bima Yojana claim procedure:
The death or disorder claims which are under this scheme are required to be resolve by the P&GS Unit of LIC. They make a direct payment to the beneficiaries through NEFT. In the case that there isn’t a NEFT facility available, the money for the claim is directly transferred to the bank account of beneficiaries. This would also require previous approval from equal authority, the A/C payee cheque or claim can be paid by any other mode as decided by LIC.
Aam Admi Bima Yojana Premium:
The premium that has to be paid by a member is firstly charged at Rs.200/- per annum for each member for a basic cover of Rs.30,000/-. Half of this amount is subsidized from the Social Security Fund. In the case of a Rural Landless Household (RLH) the remaining 50% premium is produced by the State Government/ Union Territory. In the case of other professional group, the remaining 50% premium shall be borne by the Nodal Agency and/or State Government/ or Member and Union Territory.