Organisation : Comprehensive Health Insurance Agency of Kerala & LIC
Scholarship Name : AABY Aam Admi Bima Yojana Scholarship
Applicable For : Children of the beneficiary studying between 9th to 12th Standard
Applicable State : Kerala
Website : http://www.akshaya.kerala.gov.in/
Scholarship Form : https://www.scholarships.net.in/uploads/21229-LIC.pdf
LIC Aam Admi Bima Yojana
The Life Insurance Corporation of India (LIC), in association with the Comprehensive Health Insurance Agency of Kerala (Chiak), has launched AABY (Aam Admi Bima Yojane) in the State.
Related : LCOLD KELTRON Kerala AABY Aam Admi Bhima Yojana Scholarship Scheme : www.scholarships.net.in/18659.html
The benefits of the scheme are summarized in the following table:
| Natural Death | Rs.30,000/- |
| Accidental Death | Rs.75,000/- |
| Total permanent disability | Rs.75,000/- (loss of two eyes or two limbs or loss of one eye and one limb in accident) |
| Partial permanent disability | Rs.37,500/- (loss of one eye or one limb in an accident) |
| Scholarships | Available for two children studying in 9th to 12th standards. Each child will receive Rs.300/- per quarter |
Scholarship Benefits
Scholarship as a Free Add-on benefit will be provided to a maximum of two children of the beneficiary studying between 9th to 12th Standard @ Rs.100/= per month for each child payable half yearly – on 1st July and on 1st January, each year.
Eligibility Criteria
AABY is a prestigious scheme of the Central and State/Union Territory Governments that provides for insurance of the head of the family or an earning member of rural landless households between the age of 18 to 59 years against natural/accidental death and partial/permanent disability.
How To Apply?
Eligible citizens will be registered through Akshaya centers.
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.
Claim Procedure
1. The member whose child is eligible for scholarship shall fill up an application form half yearly and submit it to the Nodal Agency. The Nodal Agency will identify the students.
2.The Nodal Agency in turn will submit the list of beneficiary students to the concerned P&GS unit with full details such as name of the student, school’s name, class, member’s name, master policy no., membership no. and NEFT details for direct payment.
3. Every half year, for 1st July and 1st January, each year LIC will credit the scholarship payment to the Account of the beneficiary student, by NEFT.
4. Any other mode of payment of scholarships as decided by LIC/Government may be applicable in future.