Aam Aadmi Bima Yojna will get a life insurance of lakhs rupees of only 100 rupees, apply like this According to government reports, about 93% of Indians work in the unorganized sector and do not have access to basic health insurance. To provide social security to these employees against occupational risks, the government launched AABY – Aam Aadmi Bima Yojana. Read on to know more about it.
Aam Aadmi Bima Yojna
India has one of the largest workforces in the world, and most workers come from the low-income group. And for the benefit of these workers, the Government of India has launched many plans. One such system is Aam Aadmi Bima Yojana (AABY). This system, which literally means ‘Aam Aadmi Bima Yojana’, provides financial support to people from the low-income group in emergencies.
What is Aam Aadmi Bima Yojana?
Launched in October 2007, Aam Aadmi Bima Yojana is a social security system exclusively for low-income groups. It benefits the people who are not on the payroll such as fishermen, shoemakers, rickshaws, etc. Due to low income, most of these workers do not have enough savings to face serious unforeseen events such as disability or death. AABY provides them with financial assistance to deal with such situations.
Features and benefits of the AABY Scheme
Affordable: – One of the important features of Aam Aadmi Bima Yojana is the low premium so that people from the low-income group can buy coverage. In addition, 50% of the premium is borne by the state.
Advanced insurance coverage: – AABY is known as one of the most technologically advanced insurances in India. All policyholders’ data is digitized and monitored through a web-based system, which enables rapid exchange and retrieval of information when needed. It is also useful for making the claims settlement process simple and hassle-free for policyholders (Aam Aadmi Bima Yojana).
immediate help: – Policyholders can get the necessary information related to the insurance (Aam Aadmi Bima Yojana) and have their questions and complaints resolved easily by visiting almost the LIC branch. Policyholders can have their problems solved by contacting the insurance agent via e-mail and telephone.
Eligibility criteria to purchase AABY
Aam Aadmi Bima Yojana is not available to all Indian citizens. To purchase this insurance, an applicant must meet the following eligibility requirements: The applicant’s age should be between 18 and 59 years. The applicant should belong to the Below Poverty Line (BPL) family. A person belonging to a landless family in the countryside can also apply for the system (AABY) and benefit from it. Only one family member is eligible to apply for the system. Member should earn.
How to register for AABY?
The process of registering under AABY is different from buying a regular insurance policy. As Aam Aadmi Bima Yojana is a state system, the applicant should contact the nodal bureau designated by the State or Central Government of India for registration. When purchasing the policy, the applicant must provide the details of the nominee in the form. In the event of death or invalidity for the policyholder, the trustee will receive compensation in accordance with the terms of the insurance.
How to claim AABY?
Compared to other insurance plans, the AABY claim process is simple. And the policyholder can file a claim in four situations.
Claim procedure for death of natural cause
In the event of the policyholder’s death, the trustee must provide a copy of the death certificate obtained from the local authority at the time of application. To receive compensation, the insurance must be active at the time of the policyholder’s death (Aam Aadmi Bima Yojana), and the claim must be submitted to the designated nodal agency.
The agency will verify the claim and investigate whether the deceased was the sole serving member and whether he was related to the BPL or marginally over the BPL family. When the verification is complete, the agency will settle the claim.
Reporting process for accidental death
The claim process for death due to accident is similar to that for natural death. But in addition to the death certificate and the application form, the candidate must submit additional documents, including – a copy of the FIR, police investigation report, autopsy report and policy results report.
Also know – Pradhan Mantri Awas Yojana: How to get a home loan subsidy under PM Awas Yojana, see here