Aam Aadmi Bima Yojna for landless ruralites
KT NEWS SERVICE NEW DELHI, Aug 30: The Union Cabinet on Thursday decided to launch an insurance scheme for the landless rural families under an "Aam Aadmi Bima Yojana" to be launched from October 2 to cover death and permanent disability and provide scholarship to two children in a family for studying in ninth to 12th classes.
The Centre and the state governments will equally share the cost of the premium to be paid at the rate of Rs 200 per member.
Head of the family or an earning member of the family will be insured under the scheme and only those in the age group of 18 to 59 years will be covered, Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters here Thursday night.
An estimated 70 to 80 lakh landless rural households are expected to be covered under the scheme in the first year and the remaining in the next year.
There are an estimated 1.5 crore landless households in the Indian villages as per the national sample survey.
The benefit in the event of an accidental death of the insured head or bread-earner of the family would be Rs 75,000 while it would be Rs 30,000 in case of natural death.
Total permanent disability, that is loss of two eyes or two limbs or loss of one eye and one limb in accident, will entail benefit of Rs 75,000 while it would be Rs 37,500 in case of partial permanent disability involving loss of one eye or limb in an accident.
The Central Government will be creating a fund of Rs 500 crores to give a scholarship of Rs 300 per quarter for up to two children of the insured landless family for studying in ninth to 12th standard.
The fund will ensure Rs 40 crores a year earned from the fund at 8 per cent per annum return and it will be sufficient to cover 3.33 lakh children of the beneficiaries, an official release said.
A separate fund of Rs 1000 crores operated by the government-owned Life Insurance Corporation (LIC) will be created to meet the liability of the Centre towards its share of the premium payment, the release added.
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