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Friday, 7 August 2015

AAM AADMI BIMA YOJANA: PROVIDES DEATH AND DISABILITY COVER TO PERSONS BETWEEN THE AGE GROUP OF 18 YRS TO 59 YR

Press Information Bureau 
Government of India
Ministry of Finance
07-August-2015 17:42 IST

Aam Aadmi Bima Yojana: Provides Death and Disability Cover to Persons Between the Age Group of 18 Yrs To 59 Yr 

Aam Admi Bima Yojana (AABY) is a Government of India Social Security Scheme administered through Life Insurance Corporation of India (LIC) that provides Death and Disability cover to persons between the age group of 18 yrs to 59 yrs, under 48 identified vocational/ occupational groups /rural landless households. It is a group insurance scheme implemented through a Nodal Agency such as a Central Ministry/ Department; State Government /Union Territory or other institutionalized arrangements/ registered NGO. The AABY provides insurance cover for a sum of Rs 30,000/- on natural death, Rs. 75,000/- on death due to accident, Rs. 37,500/- for partial permanent disability (loss of one eye or one limb) due to accident and Rs. 75,000/- for total permanent disability (loss of two eyes or two limbs or loss of one eye and one limb) due to accident. The Scheme also provides an add-on-benefit, wherein Scholarship of Rs 100 per month per child is paid on half-yearly basis to a maximum of two children per member, studying in 9th to 12th Standard.

The total annual premium under the scheme is Rs. 200/- per beneficiary of which 50% is contributed from the Social Security Fund created by the Central Government and maintained by LIC. The balance 50% of the premium is contributed by the State Government / Nodal Agency / Individual, as the case may be.

The State/UT-wise details of the total number of beneficiaries covered under AABY are given in Annexure A.

Government of India has set up a Centralized Social Security Fund and Aam Admi Bima Yojana Scholarship Fund. The same is being administered by LIC. There is no State/UT-wise allocation of these funds. The due amounts required for settling Premium and Scholarships are debited from these funds.

The outgo of these funds towards Payment of Premium & Scholarships settled during last three years and the current year are given as per Annexure B.

ANNEXURE A
STATE/UT-WISE AABY COVERAGE AS AT JUNE 2015
(no. of beneficiaries)
STATES
AABY Coverage 2014-15 as on 31.03.2015
Coverage upto 30.06.2015 for FY 2015-16
ANDHRA PRADESH
7704878
8297834
ARUNACHAL PRADESH
27695
27695
ASSAM
427595
440902
BIHAR
520926
559790
CHANDIGARH
5118
5425
CHHATTISGARH
1721516
1805631
DELHI
47746
49207
GOA
50221
50221
GUJARAT
897894
943617
HARYANA
109379
109514
HIMACHAL PRADESH
75772
77803
J & K
104814
122632
JHARKHAND
341829
365687
KARNATAKA
3117093
3418619
KERALA
1341006
1587547
MADHYA PRADESH
7145760
7146118
MAHARASHTRA
8098658
8109302
MANIPUR
29962
31198
MEGHALAYA
25727
25727
MIZORAM
4588
4758
NAGALAND
7617
10408
ORISSA
2123801
2511871
PUDUCHERRY
96636
102632
PUNJAB
1259911
1260386
RAJASTHAN
2024434
2058831
SIKKIM
2566
2623
TAMIL NADU
1277084
1405521
TELANGANA
2076886
2091294
TRIPURA
40804
40970
U.P
1312517
1315611
UTTRANCHAL
748170
750859
WEST BENGAL
437263
472016
A&N ISLAND
1399
1399
LAKSHDWEEP
203
203
DAMAN & DIU
202
202
DADRA & N HAVELI
482
482
ALL INDIA TOTAL
43208152
45204535

ANNEXURE B

SOCIAL SECURITY FUND     (Amount in  Rs. Crore)
YEAR
OUT GO TOWARDS PREMIUM
(A)
(B)
2012-13
569.10*
2013-14
296.30
2014-15
340.76
2015-16
(As on 30.06.2015)
25.74

*in the year 2012-13 Scholarships under the erstwhile Janashree Bima Yojana (JBY) were being settled through Social Security Fund(SSF) for which the bifurcation is Rs. 422.22 Cr Premium outgo and Rs.146.88 Cr Scholarship paid (Total Rs.569.10 Cr)


AABY SCHOLARSHIP FUND   (Amount in Rs. Crore)
YEAR
OUTGO TOWARDS AABY SCHOLARSHIP SETTLED
(A)
(B)
2012-13
119.39
2013-14
279.00
2014-15
274.96
2015-16
(As on 30.06.2015)
22.50

This was stated by Shri Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Rajya Sabha today. 

*****

Source:- PIB

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