Aam Aadmi Bima Yojana
- Launched in 2007
- Covers death and disability insurance for the benefit of rural landless households.
- Insurance to the head of the family or earning member of the family of rural landless households b/w the age of 18 and 59 years against natural death or accidental death and partial/permanent disability.
- Annual premium payable is Rs 200
- 50% of the premium shall be payable by the Union Government from a separate fund created by the govt and operated by LIC and the remaining 50% by the State Government.
- Also provides for educational aid to the beneficiaries’ children studying from 9th to 12th standard as an extended benefit.
- A separate fund has been set up for providing scholarship to the children of beneficiaries.
Janashree Bima Yojana
- Launched in August 2000
- Life insurance protection to people who are BPL or marginally above poverty line.
- Persons aged b/w 18 years and 59 years and who are members of the identified 45 occupational groups are eligible for the scheme.
- Premium of Rs 200 per member
- 50% of premium comes from Social Security Fund maintained by LIC, rest 50% borne by the member and/or nodal agency.
