LIC Aam Aadmi Bima Yojana: For just Rs 100, get up to Rs 75,000 life insurance policy; scholarship, accidental disability cover too
LIC Aam Aadmi Bima Yojana: In the wake of COVID-19 pandemic spread, people have become ultra cautious about their health and life insurance policy.
LIC Aam Aadmi Bima Yojana: In the wake of COVID-19 pandemic spread, people have become ultra cautious about their health and life insurance policy. In this instance, here we reveal benefits of a LIC policy that people employed in the unorganised sector can get. For such individuals, Life Insurance Corporation (LIC) of India had rolled out the LIC Aam Aadmi Bima Yojana, which provides life-time cover along with accidental death cover. It also has the provision to provide scholarship benefits to two children of the LIC policy holder.
What is LIC Aam Aadmi Bima Yojana
LIC Aam Aadmi Bima Yojana is based on the Nodal Agency Model. The Nodal agencies include Panchayats, NGOs and self help groups. The Nodal agency can get in touch with the nearest pension and group schemes office or any LIC office to join the scheme. Photo: Reuters
Premium in this LIC Policy
LIC Aam Aadmi Bima Yojana premium per annum is Rs 200 out of which 50 per cent or Rs 100 will be paid by the state or union territory government (whichever applicable to the policy holder). So, the LIC policy holder will have to pay Rs 100 only. So, to avail the LIC Aam Aadmi Bima Yojana benefits mentioned above, one needs to pay Rs 100 per annum only. Photo: Reuters
LIC Aam Aadmi Bima Yojana sum assured
LIC Aam Aadmi Bima Yojana provides Rs 30,000 life insurance cover to the insured in case of natural death during the policy tenure means upon the death of a member during the term of the LIC policy, a sum assured amount of Rs 30,000 will be paid to the nominee. Photo: Reuters
Accidental death, disability benefit
In this LIC policy, the insured is eligible for accidental death or disability benefit in case of accident during the term of the insurance. As per the LIC Aam Aadmi Bima Yojana details, the LIC India policy holder will be eligible for Rs 37,500 for accidental disability and Rs 75,000 life insurance cover will be paid to the nominee in case of accidental death of LIC policy holder. Photo: Reuters
Who can buy LIC Aam Aadmi Bima Yojana
Any Indian aged from 18 to 59 can buy LIC Aam Aadmi Bima Yojana. Photo: Reuters