Government Life Insurance Policy

Hello, I want to know the details of the Government Life Insurance Policy as I want to take. Please provide me.

Hello, here I am providing you the details of the Government Life Insurance Policy as under:

About the scheme:
Ministry of Finance, Government of India has approved the merger of Social Security Schemes viz., Aam Admi Bima Yojana (AABY) and Janashree Bima Yojana (JBY).
The merged scheme is renamed “Aam Admi Bima Yojana” and has come into effect from 01.01.2013.

Eligibility criteria:
The members should be aged between 18 years completed and 59 years nearer birthday.
The member should normally be the head of the family or one earning member of the below poverty line family (BPL) or marginally above the poverty line under identified vocational group/rural landless household.

Age Proof:
a) Ration Card
b) Extract from Birth Register
c) Extract from School Certificate
d) Voter’s List
e) Identity card issued by reputed employer/Government Department.
f) Unique Identification Card (Aadhar Card)

Premium:
The premium to be charged initially under the scheme 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

Benefits:
NATURAL DEATH
Upon death of a member, during the period of insurance cover the Sum Assured of Rs.30,000/- under assurance, then in force, shall become payable to the nominee.

ACCIDENTAL DEATH / DISBILITY BENEFITS
a) On death, due to accident Rs.75,000/-
b) Permanent Total Disability, due to accident Rs.75,000/-
i. Loss of 2 eyes or 2 limbs OR
ii. Loss of one eye & one limb, in an accident
c) Loss of one eye or one limb, in an accident Rs.37,500/-

__________________
Answered By StudyChaCha Member