Aam Admi Bima Yojana (AABY)

Ministry

UNION Ministry of Finance and LIC

Benefits:

Natural Death

Rs.30,000 will be given to nominee

The following benefits are provided to members in case of accident, during the period of insurance cover

On death, due to accident Rs.75,000/-

Permanent Total Disability, due to accident

i. Loss of 2 eyes or 2 limbs OR

ii. Loss of one eye & one limb, in an accident

Rs.75,000/-
Loss of one eye or one limb, in an accident Rs.37,500/-

3. Scholarship benefits

Scholarship to 2 children of the beneficiary studying between 9th to 12th Standard @ Rs.100/= per month for each child payable half yearly – on 1st July and on 1st January, each year.

4. Premium

The premium will be 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.

5. Permanent Total Disability Benefit:

The claimant has to submit documentary evidence of the accident- Medical certificate from a Government Civil Surgeon or qualified Government Orthopaedician certifying disability due to accident, stating loss of limb/s.

Eligibility:

  • Handloom, Khadi and Handicraft artisans
  • Aged between 18 to 59
  • The member should normally be the head of the family or one earning member

How to apply?

Contact Local LIC Agent/office/franchise for Form. Fill and submit to them For the scholarship benefit, fill application form http://www.licindia.in/images/aaby_app_form.pdf and submit to Nodal agency. The Nodal Agency will identify the students.

Application requirements for artisan

Submit Age proof:

  • Ration Card
  • Extract from Birth Register
  • School Certificate
  • Voter’s ID card
  • Artisans Card
  • Aadhar Card.

Claim Procedure

Nomination

Each member shall appoint a Nominee to claim the amount after his/her death. These details will be filled in the Application form.

1. Natural Death

Nominee will make an application along with Death Certificate for payment of claim amount to the designated official of the Nodal Agency.
The designated official of the Nodal Agency shall verify the claim papers and submit the papers with a certificate that the deceased member was head /earning member of the family.

2. Death due to Accident
Submit the Death Registration Certificate along with :

  • Copy of FIR
  • Post Mortem Report
  • Police Inquest Report
  • Police Conclusion Report / Final Report of Police.
State: 
Andhra Pradesh
Arunachal Pradesh
Assam
Bihar
Chhattisgarh
Goa
Gujarat
Haryana
Himachal Pradesh
Jammu & Kashmir
Jharkhand
Karnataka
Kerala
Madhya Pradesh
Maharashtra
Manipur
Meghalaya
Mizoram
Nagaland
Orisha
Punjab
Rajasthan
Sikkim
Tamil Nadu
Telangana
Tripura
Uttar Pradesh
Uttarakhand
West Bengal
Artisan Type: 
Handloom
Handicraft
Benefits: 
Life Insurance
Education Scholarship