Organisation : Kerala Labour and Rehabilitation Department & Life Insurance Corporation of India Ltd.
Scholarship Name : AABY Aam Admi Bhima Yojana Scholarship Scheme /Membership/Death Claim
Applicable For : Children (Studying between 9th to 12th standard) of the members
Applicable State : Kerala
Website : lcold.keltron.in
Application Form : https://www.scholarships.net.in/uploads/18659-aaby.pdf
Guidelines : https://www.scholarships.net.in/uploads/18659-Guide.pdf
AABY Scholarship For Members Children:
Government of India has launched an Insurance Scheme, the Aam Admi Bima Yojana (AABY), a new scheme formulated with the equal participation of State and Central Government for ensuring the social security of rural landless households in the country, to be implemented through Life Insurance Corporation of India Ltd.
Related : HLL Lifecare 2017 Pratheeksha Scholarship : www.scholarships.net.in/18628.html
As per the Government orders read above State Government have issued necessary orders to implement the scheme in the State of Kerala.
Scholarship for the Children of the members:
Scholarship at the rate of Rs.100/- per month will be given to maximum two children studying between 9th to 12th standard. This scholarship is payable half yearly on 1st July and on 1st January of each year.
The benefits available under the scheme are as follows:
I. Insurance benefits :
i) For natural death -Rs. 30,000/-
(ii) For Accident death – Rs. 75,000/-
(iii) For permanent total disability due to accident – Rs.75,000/-
(iv) Disabilities due to accident (loss of one eye or one limb) – Rs. 37,500/-
(v) Loss of two eyes or two limbs or one eye and one limb in an accident – Rs.75,000/-
Government are now pleased to issue following further orders for the implementation of the Aam Admi Bima Yojana in the State:
(i) The implementation of Aam Admi Bima Yojana in the State will be in accordance with “Aam Admi Bima Yojana for the Rural Landless Labourers of Kerala Scheme 2008” as annexed to this Government Order.
(ii) Families having land not exceeding 5 cents and having no members with permanent employment in organised sector will be included as beneficiaries of the Scheme. The Kudumbasree will provide the list of such families to Labour Commissioner, the Nodal Agency of the Scheme. The Labour Commissioner will hand over the list to LIC.
(iii) The State share of the premium amount (@ Rs.100/- per family) for this year will be granted to Labour Department under a new Head of account after following “New Service Procedure”. Funds immediately required will be sanctioned by obtaining an advance from the Contingency fund.
(iv) From the next financial year onwards the scheme will be included in State Plan of Labour Department. The Labour Commissioner will submit necessary proposals for the purpose.
(v) A State Level Supervisory Council, consisting of the following members is constituted for reviewing the implementation of the Scheme and to issue necessary guidelines for effective implementation of the Scheme
Premium :
(1) The premium to be charged under the scheme will be Rs.200/- per annum per member for a cover of Rs.30,000/-. Out of this 50% will be subsidized by the State Government and 50% will be subsidized from the Aam Admi Bima Yojana Social Security Fund (Central Government.)
(2) The premium for subsequent years will be determined according to the ratio of the benefit given.
(3) No additional premium for providing Accident Death and Disability Benefits should be collected from the Master Policy Holder.
The procedure for getting benefits is :
(a) At the time of death of the insured, his/her spouse, or in the case of accident the labourer himself has to submit his/her application in the prescribed form to the officer authorized by the Nodal Agency for getting the insurance benefit. On receipt of the duly filled application form he will make necessary verification and scrutiny of the same and forward it with his recommendation for payment to the Life Insurance Corporation.
(b) As far as the scholarship is concerned the insured person has to submit his application for getting scholarship to his children duly countersigned by the head of the educational institution in which the children are studying to the authorized officer. The officer later on will forward it to the Corporation for the speedy settlement of the claim.