LIC Aam Admi Bima Yojana Plan
LIC Aam Admi Bima Yojana Plan offered by Life Insurance Corporation of India. Ministry of Finance, Government of India, has approved the organization of Social Security Schemes i.e., Aam Admi Bima Yojana (AABY) and Janashree Bima Yojana (JBY).
Eligibility criteria for LIC Product Plans
- The members should have age between 18 years completed and 59 years nearer birthday.
- The member should commonly be the head of the family. Or one earning member of the below poverty line family (BPL). Or marginally above the poverty threshold under-recognized vocational group/rural landless family.
Nodal Agency for LIC Aam Admi Bima Yojana Policy
“Nodal Agency” shall mean the Primary Ministerial Commission/State Government / Union Territory of India/any other institutionalized arrangement/any registered NGO. Appointed to administer the Scheme as per the rules. In the case of “Rural Landless Households.” The nodal agency will mean the Union Territory appointed to administer the Scheme.
Age Proofs for LIC India Aam Admi Bima Yojana Plan
The Age Proofs that should show for LIC Aam Admi Bima Yojna Plan Membership given below.
- Ration Card.
- Extract from School Certificated.
- Identity card issued by standing employer/Government Department.
- Unique Identification Card (Aadhar Card).
- Extract from Birth Register.
- Voter’s List.
Premium for Life Insurance Corporation of India AABY Plan
The Premium that should pay for the Life Insurance Corporation of India AABY Plan
The Premium should have charged initially under the plan will be Rs.200/- per annum. Per Person for a cover of Rs.30,000/-, out of which 50% must subsidize from the Social Security Fund. In the case of Rural Landless Household (RLH) remaining 50 % premium should have borne by the State Government. And in the event of another occupational group the remaining 50% premium should have assumed by the Nodal Agency. And Member and State Government/ Union Territory.