Aam Aadmi Bima Yojana: Provides Death and Disability Cover to Persons Between the Age Group of 18 Yrs To 59 Yr
Capital MarketAam 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 ASTATE/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 2015-16ANDHRA PRADESH
7704878
8297834ARUNACHAL PRADESH
27695
27695ASSAM
427595
440902BIHAR
520926
559790CHANDIGARH
5118
5425CHHATTISGARH
1721516
1805631DELHI
47746
49207GOA
50221
50221GUJARAT
897894
943617HARYANA
109379
109514HIMACHAL PRADESH
75772
77803J & K
104814
122632JHARKHAND
341829
365687KARNATAKA
3117093
3418619KERALA
1341006
1587547MADHYA PRADESH
7145760
7146118MAHARASHTRA
8098658
8109302MANIPUR
29962
31198MEGHALAYA
25727
25727MIZORAM
4588
4758NAGALAND
7617
10408ORISSA
2123801
2511871PUDUCHERRY
96636
102632PUNJAB
1259911
1260386RAJASTHAN
2024434
2058831SIKKIM
2566
2623TAMIL NADU
1277084
1405521TELANGANA
2076886
2091294TRIPURA
40804
40970U.P
1312517
1315611UTTRANCHAL
748170
750859WEST BENGAL
437263
472016A&N ISLAND
1399
1399LAKSHDWEEP
203
203DAMAN & DIU
202
202DADRA & N HAVELI
482
482ALL INDIA TOTAL
43208152
45204535ANNEXURE B
SOCIAL SECURITY FUND (Amount in Rs. Crore)
YEAR
OUT GO TOWARDS PREMIUM(A)
(B)2012-13
569.10*2013-14
296.302014-15
340.762015-16
(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
119.392013-14
279.002014-15
274.962015-16
(As on 30.06.2015)
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