LIC announces October as Social Security insurance month

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Nashik, Oct 3 (UNI) Life Insurance Corporation of India (LIC) has declared this month as the social security insurance month across the nation, commencing from October one.

As part of the programme, LIC will focus on two of its main schemes -- 'Janashree bima yojana' and 'Aam admi bima yajana', whereunder insurance cover will be given to below proverty line people at low premium, P Jain, senior divisional manager of the company, said in a press meet here.

Janashree bima yojana provides insurance cover to people of specified 45 occupations who live below poverty line and are in the age group of 18 to 59. This scheme provides a life risk cover of Rs 30,000 to the members and provides a cover of Rs 75,000 on death or permanent total disability due to aecident. There is also a cover of Rs 37,500 for partial permanent disablity due to accident. Fifty per cent of the Rs 200 per person per annum premium is subsidised from the social security fund maintained by the corporation, he said.

The scheme also provides scholarship to the children of members at the rate of Rs 100 per month. During 2007-08, LIC has distributed scholarships of more than Rs 76 crore benefitting 73 lakh students.

The Aam admi bima yojana was launched on October 2 last year by Union Finance Minister P Chidambaram in Shimla. It is a social security scheme which covers the head of the family or one earning member of the family of the rural landless household, who shald be aged between 18 and 59 years. The other benefits are similar to Janashree bimya yojna.

Besides these, Mr Jain said LIC has some specialised schemes like 'Aangan wasi karyakarti bima yojna' and 'Mahatma Gandhi bunkar bima yojana'. This year, special efforts are being made to cover self-help groups, he added.


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