The objective of “ Aam Admi Bima Yojana (AABY) for Handicrafts Artisans” is to provide life insurance protection to the Handicrafts Artisans.
All crafts persons will be eligible to be covered under the “AAB “Yojana for Handicrafts artisans subject to the conditions laid down by LIC from time to time. The present age between 18-59 years living below & marginally above the poverty line were provided insurance cover in the erstwhile JBY as well as in the new AABY
Pattern of Financial Assistance
GOI contribution Rs.290/-
Artisans’ contribution Rs. 80/-
LIC’s contribution Rs.100/-
Total premium* Rs.470/-
The scheme details given are indicative and based on existing guidelines. These details are subject to changes in scheme by LIC. However, in case LIC changes the premium or share of respective stakeholders, then revised premium and shares will be applicable.
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