Aam Aadmi Bima Yojana that was launched in the year 2007 is a government backed financial security plan especially designed for the Rural landless households. The plan covers the head or the earning member of the family in case of death or fatal accident leading to permanent or partial disability.

Benefits

• Under this plan, a premium of Rs 200 is being paid equally by both state and central government thereby life insured is expected to pay No premium.
• Death benefit - in case of natural death of the life insured, the nominees or the family members will receive Rs 30,000.
• Death due to accident - in case of death of the life insured due to accident, the nominees or the family members will receive Rs 75,000.
• Permanent total disability - in case of permanent total disability (loss of 2 eyes or limbs) due to accident, the nominees or the family members will receive Rs 75,000.
• Partial permanent disability - in case of partial permanent disability due to accident, the nominees or the family members will receive Rs 37,500.
• Education benefit - for a maximum of two children of the life insured, studying between 9^Th to 12^Th standard, a scholarship fee of Rs 100 is given per child per month. This is paid half yearly i.e. on 1^St january and 1^St July each year.

Eligibility

The policy seeker must fall within the age bracket of 18 to 59 years of age to be eligible for the plan. Necessary documents will be required.