Insurance Schemes for unorganized sector persons/people living below the poverty line

The Social Security Scheme namely, Aam Aadmi Bima Yojana (AABY) caters to unorganised sector persons under 48 various vocational groups such Beedi Workers, Brick Kiln Workers, Rickshaw Pullers/Auto Drivers etc. The scheme provides insurance cover of ₹ 30,000/- on natural death, ₹ 75,000/- on death due to accident, ₹ 37,500/- for partial permanent disability due to accident and ₹ 75,000/- for total permanent disability due to accident, to such persons in the age group of 18 to 59 years for a premium of ₹ 200/-, of which ₹ 100/- is paid by Government of India and the balance ₹ 100/- is paid by State Governments/Nodal agencies/ individuals, as the case may be.

As part of Pradhan Mantri Jan Dhan Yojana (PMJDY), all the people in the age group of 18 to 59 years who opened Jan Dhan accounts between 15.08.2014 to 31.01.2015 were covered under free life insurance of ₹ 30,000/-. The premium is borne by the Central Government. Apart from the above, the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY) are universal and affordable schemes available at a very low cost, to address the insurance of life and accidental risks. Further, Rashtriya Swasthya Bima Yojana (RSBY) provides health insurance cover to persons living below the poverty line.

This was stated by Shri Santosh Kumar Gangwar, Minister of State for Finance in written reply to a question in Lok Sabha today.