Incepted on August 10, 2000, Janashree Bima Yojana (JBY) is a government-sponsored socially oriented insurance scheme. Devised by the Central Government and Life Insurance Corporation (LIC) together, this scheme offers life insurance protection to rural and urban people below and marginally above poverty line. Currently there are 45 occupational groups covered under this plan.
Eligibility Criteria for Janashree Bima Yojana
In order to be eligible to avail the Janashree Bima Yojana policy, the person should satisfy the following criteria:
- Individuals should be aged between 18 to 59 years
- Should be a member of any of the nodal agency approved occupation or vocational group
- Should be marginally above or below the poverty line
- Minimum membership size should be 25
Features of the Janashree Bima Yojana
The members under this yojana will have to pay a premium of Rs 200 per head. 50% of the premium will be paid by the members or the State Government/Nodal Agency, while submitting the proposal. Nodal Agencies comprise Self Help Groups (SHGs), NGOs, Panchayat, or any other institutional arrangement. The other 50% of the premium will be contributed from the Social Security Fund.
Women SHG Groups
Janashree Bima Yojana also offers a special scheme to women SHG members to assist them in their children’s education. Term life insurance coverage amounting to Rs 30,000 is provided for a tenure of one year. The premium of Rs 200 per year is shared between the SHG member and LIC. Rs 100 is paid by the member, while the balance Rs 100 is borne by the LIC.
Shiksha Sahyog Yojana
The Yojana also offers a social security scheme, Shiksha Sahyog Yojana (SSY), for children of parents covered under the JBY. This is an add-on benefit of the Janashree Bima Yojana. A scholarship amount of Rs 600 is paid every 6 months to students studying in IX to XII (this also includes ITI students). This benefit can be availed by only two children in every family.
Benefits of Janashree Bima Yojana
This insurance policy comes with a number of added benefits. A few of them have been mentioned as under:
- In the event of natural death, the nominee will be paid Rs 30,000 as death benefit.
- On total permanent disability or death caused due to accident, the beneficiary of the life assured will receive Rs 75,000 as compensation.
- If the life assured suffers partial permanent disability due to an accident, then Rs 37,500 will be paid as compensation.
Groups Covered Under Janashree Bima Yojana
The below mentioned groups, that fall in the below and marginally above poverty line category, are covered by JBY:
|Aanganwadi workers and helpers||Manufacturer of paper products|
|Agriculturists||Papad workers attached to SEWA|
|Beedi workers||Physically handicapped self-employed persons|
|Brick kiln workers||Plantation workers|
|Cobblers||Primary milk producers|
|Coconut processors||Printing press workers|
|Construction workers||Rickshaw pullers/auto drivers|
|Chemical products like candle manufacturing company workers||Rubber and coal producers|
|Earthen toy manufacturers||Rural poor|
|Fire cracker workers||Safai karamcharis|
|Foodstuffs like khandsari/sugar company workers||Scheme for urban poor|
|Handicraft artisans||Tenduleaf collectors|
|Handloom and khadi weavers||Toddy tappers|
|Hilly area women||Transport drivers association|
|Lady tailors||Women associated with SHG|
|Leather tannery workers|
|Manufacturer of food products|
|Manufacturer of leather products|