Aam Admi Bima Yojana Sample Clauses

Aam Admi Bima Yojana. The Aam Admi Bima Yojana(AABY) has come into effect from 01.01.2013, as per Ministry of Finance letter F.No.I-3011/6/2009 by merger of erstwhile Janashree Bima Yojana (JBY) and Aam Admi Bima Yojana(AABY).The premium for the scheme is ` 200/- per member per annum, 50% of which is contributed by the member and/or State Government and /or Nodal Agency and remaining 50% is drawn as subsidy from the Social Security Fund constituted by Government of India and maintained by LIC of India. In case of Rural Landless Houselholders (RLH) the entire premium is borne in the ratio of 50:50 by State Government and LIC maintained Social Security Fund. This kind of 100% financing is also there in Rajasthan’s Panna Dhay scheme, in Uttarakhand’s and Madhya Pradesh’s AABY scheme. Persons between age 18 years and 59 years and those who are members of the identified 48 occupational groups are eligible to be covered under this scheme. Table 14.2 Benefits under Aam Admi Bima Yojana: Sl No. Amount (in `) 1. Natural Death 30,000/- 2. On death or total permanent disability due to accident 75,000/- 3. On partial permanent disability due to accident 37,500/- Scholarship as a free add-on benefit is also provided to a maximum of two children of the beneficiary studying between 9th to 12th standards (including ITI courses) at the rate of ` 100/- per month for each child payable half yearly on 1st July and 1st January each year. During the financial year 2013-2014 total number of scholarships disbursed were 45,07,719 amounting to ` 281.80 crore. Table 14.3 LIVES COVERED & CLAIMS SETTLED IN AABY ARE AS FOLLOWS: Year Lives Covered No. of Claims settled Amount of Claims settled (` In Crore) 2007-2008 42,61,156 - - 2008-2009 71,71,556 20,680 64.79 2009-2010 1,30,45,666 38,493 125.52 2010-2011 1,77,47,480 40,780 131.53 2011-2012 2,02,58,390 61,056 197.85 2012-2013 4,29,00,000 1,39,776 430.84 2013-2014 4,54,15,082 1,31,863 435.61
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