The Union Cabinet today gave its approval for launching of Aam Aadmi Bima Yojana (AABY) from October 2, covering the death and permanent disability for the benefit of rural landless households.
New Delhi, Aug 30 : The Union Cabinet today gave its approval for launching of Aam Aadmi Bima Yojana (AABY) from October 2, covering the death and permanent disability for the benefit of rural landless households.
The scheme will provide for insurance of head of the family or an earning member of the family of rural landless household between the age of 18 to 59 years against both natural and accidental death, and partial or permanent disability.
The annual premium payable per member will be rupees 200, of which 50 per cent will be paid by the Central Government, and the remaining 50 per cent by the State Government.
The main features and benefits of the AABY Scheme includes rupees 30,000 in case of natural death, rupees 75,000 for accidental death and total permanent disability, and rupees 37,500 for partial permanent disability.
Two children of the beneficiaries studying in 9th to 12th standard will get rupees 300 per quarter per child.The cabinet at its weekly meeting here also extended the validity of the Central Notifications dated August 29, 2006 and February 27, 2007 for another six months from September 1, 2007 to February 29, 2008 on the same terms and conditions.
This is expected to empower the State Governments to undertake de-hoarding operations and to control the prices of wheat and pulses.
ANI