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Janashree Bhima Yojan (Launched in association with LIC)
Purpose / ObjectiveTo provide life coverage.
EligibilityMembers of SHGs, Joint Liability Group (JLG), Rythu Mithra Group(RMG), Artisans, Farmers Club, Men groups, youth club etc financed by Indian Bank, between ages 18-59 years and below the poverty line.
Benefits* In the event of death of the members of sum of Rs.30000 will become payable.
* In the event of death by accident or partial disability due to accident the following amount will become payable.
Event of accident Amount Payable(Rs.)
On death due to accident 75000.00
Permanent total disability due to accident 75000.00
Loss of 2 eyes or 2 limbs or one eye and one limb in an accident 75000.00
Loss of one eye or one limb in an accident 37500.00

* The children of the members covered under JBY scheme will be given scholarships on selective basis under Shiksha Sahaya Yojana scheme. Scholarships to the wards in classes 9,10,11 and 12 @ Rs.100 per month to 2 children per family.
PremiumAnnual premium Rs.200/- per member. Out of this Rs.100/- is borne by Social Security Fund established by Govt of India with LIC. Hence, the member has to pay only Rs.100/- per annum.
Value addedAssured Life coverage of Rs.5000/- in the event of death or the spouse of the member to the spouse of the group members with an extra premium of Rs.25 per member per annum.



 
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