Aam Aadmi Bima Yojana

Ministry/Department :  Ministry of Finance
  • Aam Aadmi Bima Yojana is a Social Security Scheme
  • For 48 identified vocational/ occupational groups / rural landless household.
  • Provides Death and Disability cover to persons between the age group of 18 yrs to 59 yrs
  • 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
Factual Information:
  • Started in 2007
  • Administered through LIC
  • Now, replaced by PMJJBY and PMSBY

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