Aam Aadmi Bima Yojana is a Social Security Scheme by Govt of India for rural landless household.

aam aadmi bima yojna

Under this scheme the head of the family/earning member in the family of such a household is covered. The premium of Rs.200/- per person per annum is shared equally by the Central Government and the State Government, so the insured person has to pay no premium. The member to be covered should be aged between 18 and 59 years. The benefits under this scheme are as follows:

  • This scheme launched on 2nd October, 2007 .
  • On natural death – Rs. 30000/-
  • On Death due to accident/on permanent total disability due to the accident (loss of 2 eyes or 2 limbs) : Rs. 75000
  • On partial permanent disability due to accident (loss of one eye or one limb): Rs. 37500/-
  • Scholarship Benefits: Available for two children studying in 9th to 12th standards. Each child will receive Rs.300/- per quarter

    • There is a fund called "Aam Aadmi Bima Yojana Premium Fund", established by the Central Government to pay the contribution by the Central Government. LIC of India maintains this fund. Under the AABY, a free add-on benefit in the form of a scholarship to children is also available.