- About Coverfox
A Social Security Scheme was initiated and excellently administered by the Government of India in the form of the Aam Aadmi Bima Yojana for the citizens settled under 48 identified vocational/ occupational groups /rural areas with landless households. This group insurance scheme was introduced on 2nd October, 2007. It is also administered under the Life Insurance Corporation of India (LIC). The Aam Aadmi Bima Yojana offers insurance coverage to one earning member of the family or the family head.
Under the supervision of the Government of India, the Ministry of Finance made a proposal to merge both the Social Security Schemes, ‘Aam Aadmi Bima Yojana (AABY) and Janashree Bima Yojana (JBY). Post-merger, since January 1, 2013, the scheme was newly named as ‘Aam Aadmi Bima Yojana.’
There are certain benefits that the Aam Aadmi Bima Yojana (AABY) offer. They are mentioned below:
In case of natural death of the insured, the policy offers an amount of Rs.30,000 death benefit to the surviving beneficiaries or the family members of the policyholder.
In case the insured suffers an accidental death or suffers a permanent total disability due to an accident leading to loss of both the eyes or both the limbs, Loss of one eye & one limb, in an accident the policy offers an amount of Rs.75,000 to the surviving beneficiaries or the family members of the policyholder.
In case the insured suffers a partial permanent disability due to an accident leading to loss of one eye or one limb, the policy offers an amount of Rs.37,500 to the surviving beneficiaries or the family members of the policyholder.
The Aam Aadmi Bima Yojana offers Scholarship benefits as a Free Add-on benefit too. This benefit is made available for a maximum of 2 children studying between 9th to 12th standard of the policy holder’s nominee or beneficiaries. A fee of Rs.100 per child per month is offered.
There is certain documentation that is required to be eligible for the Aam Aadmi Bima Yojana (AABY). They are mentioned below:
The Aam Aadmi Bima Yojana (AABY) covers the below mentioned vocations and occupations:
|Brick Kiln Workers||Karmacharis|
|Beedi Workers||Self Employed Persons|
|Food Stuffs like Khandsari / Sugar||Construction Workers|
|Manufacture of Wood Products||Coconut Processors|
|Cobblers||Rickshaw Pullers / Auto Drivers|
|Manufacture of Paper Products||Sericulture|
|Manufacture of Leather Products||Primary Milk Producers|
|Printing||Hilly Area Women|
|Handicraft Artisans||Unorganized workers covered under RSBY|
|Rubber & Coal Products||Toddy Tappers|
|Handloom Weavers||Women Associated with Self-Help Groups|
|Chemical Products like candle manufacture||Rural Landless Households|
|Handloom & Khadi Weavers||Overseas Indian Workers|
|Mineral products like earthen toys manufacture||Powerloom Workers|
|Lady Tailors||Fire Crackers’ Workers|
|Leather & Tannery Workers||Aanganwadi Teachers|
|Transport Drivers Association||Tendu Leaf Collectors||Papad Workers attached to ‘SEWA’ Transport||Scheme for the Urban Poor||Plantation Workers||Forest Workers|
Along with the death certificate, the below documents also needs to be submitted in case the insured meets with an accidental death: