Puducherry, Dec 3 (UNI) Executive Director (pension and group scheme) of Life Insurance Corporation of India (LIC) V K Sharma today said the "Aam Admi Bheema Yojana" formulated by the Centre and implemented by the Corporation since October 2 last would extend insurance cover to poor agricultural labourers in the country.
Addressing a press conference here, Sharma said an estimated 57 lakhs families in Bihar alone would be brought under this scheme which was set in motion by union finance minister P Chidambaram in Himachal Pradesh on Gandhi Jayanthi day.
The scheme envisaged extension of financial assistance to the tune of Rs.30,000 to the family in the event of natural death of the main bread winner.If the death occurred due to accident, the family will get Rs.75,000. Partial disability and full disability due to accident would attracta a solatium of Rs.37,500 and 75,000, respectively, he added.
The yearly premium of Rs.200 would be shared equally by the Centre and the state governments concerned. There is also an inbuilt scholarship component in the scheme at the rate of Rs.100 per child.
Mr Sharma also called on Chief Minister N.Rangasamy and pressed him to implement the scheme in the union territory.