Aam Aadmi Bima Yojana : Eligibility, Scholarship form & How to Claim

Aam Aadmi Bima Yojana is a Central government social security scheme to provide insurance cover to Common citizens who belong to the low-income groups.

With the Insurance cover, this scheme also offers scholarships for the children of the applicant each month.

What is Pradhan mantri Aam Aadmi Bima Yojana?

The government of India for the common man launched various schemes in the last few years. PM Garib Kalyan Yojana, Atal Pension Yojana, and PM Shram Yogi Yojana is the fine example of that various government scheme.

Aam Admi Bima Yojana is one of the Samajik Suraksha Yojana. This is actually a government scheme to provide insurance to Common citizens of India.

It was launched in the year 2007, October 2nd. This social security insurance scheme is gear toward families who belong to the low-income group.

Suggeste: PM Fasal Bima Yojana

This Yojana target low-income families who does not have insurance as a priority. The Aam Aadmi Bima Yojana the full form of AABY provides those people monetary aid.

This includes coverage for both, Death and Disability cases; if occurs.

What are the benefits?

The Aam Admi Bima Yojana is not only affordable but half of the number of premiums will be paid by the Government.

Just like any other life insurance scheme, this will provide monetary aid while an accident occurs.

Here are the Benefits are in detail:

If the person who has this insurance Dies from natural causes rupees 30,000 will be provided to the family.
In case the Applicant dies from accidental death rupees 75,000 will be provided.
If Applicant gets the partial disability rupees 37,500 will be provided to them.
In case of permanent disability rupees, 75,000 will be provided.
Also, a 100 rupees scholarship will be also provided for each child, each month.
Hereunder this scheme, The cost of hospitalization, Death/Disability due to mental disorders, Suicide, Taking part in a dangerous sport, Taking part in illegal activities, and in case Death/Disability due to a war-like situation is not covered.
If the applicant loses life due to substance abuse the amount will not be provided. Same for the disability from the same cause.

Who is eligible to Apply?

Anyone who belongs to a certain identified job group and has a low family income is eligible to take part in this scheme.

Under this Government scheme, only one person per family can be insured. More than one person in a Family can not Apply for the scheme.

Also, the age of the applicant must be between 19 to 59. A person who does not belong to this age group is not eligible to apply.

Ideally, the person who applies should be the head of the family or the main earning member of the family.

Which Document is required?

If you are Going to Apply for Aam Aadmi Bima Yojana then you should have the following document:

Your Ration card to prove you belong to a low-income group.
Birth certificate or School mark sheet.
Identity card issued by your employer.
Aadhar Card.

Also, Your name should be on the Voter’s list.

How to LIC Aam Aadmi Bima Yojana Apply Online?

You can LIC Aam Aadmi Bima Yojana Apply Online since the application should be submitted to the Nodal agency.

It is currently offered by the Life insurance corporation of India. From the authorized nodal agencies, you can apply for this scheme.

Suggested: Atal Pension Yojana

You can not apply for this insurance scheme online, However, you can Download the Aam Aadmi Bima Yojana Application form from the LIC India official website using the following process:

First head over to the LIC India site using this link.
On the top menu click on the products.
Choose the right link to Download the Application form.
Download the application form on your Computer or Mobile phone.
Once the form is Downloaded print it and fill it up.

Visit the nearest authorized nodel agency to submit this form. You can use the locator on the site to locate the branch near you.

Where to get the Aam Aadmi bima yojana scholarship online application form

Apart from the insurance cover provided by this Scheme the other main benefit of this scheme is getting 100 rs scholarship for each child.

However, this benefit will not start automatically once the premium starts deducting.

Applicants also need to Download Aam Aadmi Bima Yojana Scholarship online application form and submit it.

You can Download this form also from the official LIC website.

Aam Aadmi Bima Yojana Premiums

The premium of this Insurance scheme is just 200 rupees per annum to cover the rupees 30,000. Half of this amount will be given as a subsidy by the Government of India’s social security fund.

So you have to Pay only rs 200 premiums till it covers the basics.

How to Claim?

In case if you are a Beneficiary or Nominee of this scheme and Want to Apply for the premium, you can apply for it.

The claim is settled by the Life Insurance Company and the amount will very well depend on the type of claim.

The process to Claim Aam Aadmi Bima Yojana

Here is the Process to Claim Aam Aadmi Bima Yojana.

Follow this Step-by-Step Procedure as mentioned below:

The nominee can make the Claim if the insured person dies or suffer from a disability. They have to visit the LIC office.
Visit the nearest LIC branch along with the insurance certificate and other necessary documents such as a Death certificate in case of death.
You have to fill-up the form that is provided there.
Once the form will fill up the applicant have to wait.

The designated officer will check the claim and if found eligible the insurance money will be provided to the beneficiary/nominee.

suggested: Pradhan Mantri Rozgar Yojana