Under this scheme, along with the benefits of life insurance coverage, coverage is provided to the head of the rural landless family of the state for partial and permanent disability or to a earning member of the family.
Eligibility for LIC Aam Aadmi Insurance Scheme
The applicant should be between 18 and 59 years of age for this insurance scheme. Applicant should be the head of the family or earning member of the household / Below Poverty Line / Above Poverty Line members who live in the city but have not been given the identity card of the urban area / rural should be landless.Documents required for the scheme
According to LIC, these documents will be required by the applicant to join the Aam Aadmi Bima Yojana. Such as ration card, birth certificate, proof of school certificate, voter ID, identity card provided by government department, Aadhaar card.
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Benefits of this insurance scheme
>> During the period of insurance protection under AABY, if the member dies naturally, the sum assured under the applicable insurance at that time will be Rs 30,000.
>> If the death of the registered person is due to accident or disability, then an amount of Rs 75,000 is provided to the nominee according to the policy.
>> In case of disability, an amount of Rs 37,500 is provided to the policy owner or nominee.
>> Under Scholarship benefit, maximum two children studying between 9th to 12th in this insurance scheme are given scholarship at the rate of Rs 100 per child. It will be paid semi-annually.
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Premium for Aam Aadmi Insurance Scheme
The per capita premium is charged as Rs 200 per year for insurance of Rs 30,000. In which 50 percent of the security fund is borne by the State Government or Union Territory. So in case of other professional group, the remaining 50 percent premium is borne by the nodal agency / member / state government or union territory.