Ministry of Finance, Government of India has approved the merger of Social Security Schemes viz., Aam Admi Bima Yojana (AABY) and Janashree Bima Yojana (JBY).
The merged scheme is renamed “Aam Admi Bima Yojana” and has come into existence from 01.01.2016.
Details of the Scheme:
The age of the member should be between 18 years completed and 59 years nearer birthday.
The scheme member should normally be the head of the family or one earning member of the below poverty line family (BPL) or marginally above the poverty line under identified vocational group/rural landless household.
“Nodal Agency” shall mean the Central Ministerial Department/State Government / Union Territory of India/any other institutionalized arrangement/any registered NGO appointed to administer the Scheme as per the rules. In the case of “Rural Landless Households”, the nodal agency will intend the State Government/Union Territory appointed to administer the Scheme.
I. Ration Card
II. Extract from Birth Register
III. Extract from School Certificate
IV. Voter’s List
V. Identity card issued by reputed employer/Government Department.
VI. Unique Identification Card (Aadhar Card)
The premium will be charged Rs. 200 /- per annum per member for a cover of Rs.30, 000/-, out of which 50% will be subsidized from the Social Security Fund.
Remaining 50 % premium shall be borne by the State Government/ Union Territory in case of Rural Landless Household (RLH) and in case of other occupational group the remaining 50% premium shall be borne by the Nodal Agency and/or Member and/or State Government/ Union Territory
During the period of insurance cover the Sum Assured of Rs.30,000/- under assurance, in force, shall become payable to the nominee Upon death of a member.
Accidental death / Disability benefits
The following benefits are provided to members in case of accident, during the time of insurance cover
a) On death, due to accident-75,000/-
b) Permanent Total Disability, due to accident-75,000/-
I. Loss of 2 eyes or 2 limbs OR
II. Loss of one eye & one limb, in an accident
c) Loss of one eye or one limb, in an accident-37,000/-
Scholarship as a Free Add-on benefit will be provided to a maximum of two children of the beneficiary studying between 9th to 12th Standard @ Rs.100/= per month for each child payable half yearly – each year on 1st July and on 1st January.
The claim procedure for death or disability claims under the scheme will be settled by the P&GS Unit of LIC by making direct payment to the beneficiaries through NEFT or where there is no NEFT facility available then in such cases directly to the bank account of beneficiaries with prior approval from Competent authority the A/C payee cheque or claim can be paid by any other mode as decided by LIC.
On death of the member during the period of coverage and while the policy is in force, his/her nominee will have to make an application along with Death Certificate for payment of claim amount to the assigned official of the Nodal Agency.
The assigned official of the Nodal Agency shall verify the claim papers and submit the same along with the death certificate and a certificate that the deceased member was head /earning member of the family belonging to the BPL/Marginally above BPL family under the eligible occupations under the scheme.
Nodal Agency should submit along with the application, the following necessary documents:
Complete Claim Form.
Duly attested copy of Original death certificate.
The following supplementary requirements will have to be submitted along with the Death Registration Certificate in case of accident benefit claim:
Copy of FIR
Post Mortem Report
Police Inquest Report
Police Conclusion Report / Final Report of Police