Shimla, Oct 2 (UNI) Union Finance Minister P Chidambaram launched the flagship scheme of the UPA Government ''Aam Adami Bima Yojna'' by handing over cards to a few members here today.
He also handed over 'Aam Adami Bima Yojna' cards to members of the scheme at a public meeting called here on the occasion of 139th birth anniversary of the father of the nation Mahatma Gandhi.
The Yojna is a social security scheme that would cover the head of a family or one earning member of a family of the rural landless household who should be between 18 and 59 years.
The scheme aims to provide a cover of Rs 30,000 to the members, besides providing a cover of Rs 75,000 on death due to accident or permanent total disability due to accident and a cover of Rs 37,500 for partial permanent disability due to accident.
It also aims to provide a scholarship of Rs 100 per month to two children studying between ninth and twelfth standard payable on a half yearly basis on first of July and January each year.
The 50 per cent premium of Rs 200 would be subsidized from the fund, created for this purpose by the Central Government, while the state government would contribute the remaining 50 per cent.
The beneficiaries would have to furnish the original death certificate and identity card issued by the LIC to the nodal agency, which would forward it to the nearest branch office of the LIC.
Earlier, the Chief Minister handed over a premium cheque for the scheme to LIC's chairperson T V Vijayan who handed over the master policy to him.
Union Minister of State for Labour and Employment Oscar Fernandes besides several other dignitaries were also present on the occasion.