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Janashree Bima Yojana

It is a life insurance scheme specifically designed to offer life insurance coverage to individuals who are marginally above or below the set poverty line.

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Janashree Bima Yojana

Janashree Bima Yojana was launched by both the Life insurance Corporation and the Central Government together on 10th August 2000. This insurance scheme is sponsored by the government and is devised to offer life insurance coverage to both urban and rural people, who are below and marginally above the set poverty line.

The introduction of this scheme has replaced Rural Group Life Insurance Scheme (RGLIS) and Social Security Group Insurance Scheme (SGIS). Presently, under this scheme coverage is offered to 45 different occupational groups.

Who Can Apply for Janashree Bima Yojana?

To stand eligible and avail Janashree Bima Yojana insurance plan, an individual needs to meet the below-mentioned criteria:

  • A person should be aged between 18 years to 59 years.
  • The minimum size of the membership needs to be 25.
  • The person has to be a member of any occupation or vocational group approved by the nodal agency.
  • The person needs to be marginally above or below the poverty line.

Key Features of Janashree Bima Yojana or JBY

We have listed below some of the key features of Janashree Bima Yojana:

  • Janashree Bima Yojana is a government life insurance scheme that was started together with the LIC.
  • The premium paid under this insurance plan per individual is Rs. 200.
  • This insurance scheme is designed specifically to target individuals, who are below or marginally above the poverty line.
  • Around 50% of the premium is paid by the state government or nodal agency (it can be self-help groups, panchayats, NGOs, or other institutional agencies) or an applicant. While the remaining 50% is paid by the Social Security Fund.
  • A unique service is provided to the members of the female self-help group under this insurance scheme. It assists them in the education of their children by offering Rs. 30,000 for a year.

What are the Benefits Offered Under Janashree Bima Yojana?

Some of the benefits offered to the beneficiary under Janashree Bima Yojana is as follows:

  • A beneficiary is entitled to receive Rs. 30,000 in the event of natural death.
  • In the event of permanent disability or death because of an accident, the compensation provided is around Rs. 75,000.
  • For any partial disability because of an accident, the amount offered is Rs. 37,500.

List of Different Groups Covered Under Janashree Bima Yojana

The following groups are covered under Janashree Bima Yojana, who fall marginally above or below the poverty line category:

Agriculturists Physically handicapped self-employed persons
Brick kiln workers Papad workers attached to SEWA
Anganwadi workers and helpers Carpenters
Beedi worker Coconut processors
Fishermen Earthen toy manufacturers
Plantation workers Printing press workers
Powerloom workers Scheme for urban poor
Manufacturer of paper products Rural poor

Workers in companies manufacturing chemical products such as candle

Workers in rubber and coal-producing companies
Construction workers Primary milk producers
Safai karamcharis Firecracker workers
Cobblers Workers in companies manufacturing food items, such as sugar
Workers in salt producing companies Handloom weavers
Rickshaw pullers/auto drivers Hilly area women
Toddy tappers Handloom and khadi weavers
Rickshaw pullers/auto drivers Tendu leaf collectors
Handicraft artisans Forest workers
Hamals Handicraft artisans
Women associated with SHG Workers who are involved in the manufacturing of food products
Leather tannery workers Transport karamcharis
Lady tailors Kotwal
Workers who are involved in the manufacturing of leather products Sericulture
Sheep breeders

Special Schemes Under Janashree Bima Yojana

Some special concessions are offered to the applicants under Janshree Bima Yojana other than the insurance coverage. These are:

  • Shisksha Sahyog Yojana

This plan offers coverage to only specific children and their parents must be a member of Janashree Bima Yojana. Children in classes 11th and 12th are offered Rs 600 as scholarship every 6 months. It is offered to just 2 children per household.

  • Women SHG

Under this scheme, various benefits are offered to female participants. Term insurance offers coverage of Rs. 30,000 for a year. The beneficiaries are required to make a payment of Rs 200 as a premium. But, the female members pay Rs 100 and the remaining amount is met by LIC.

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FAQ About Janashree Bima Insurance Scheme

  • What is the coverage period offered under Janashree Bima Yojana?

    The coverage period offered under the Janashree Bima Yojana is 1 year.

  • I am 39 years old. Am I eligible to apply for Janashree Bima Yojana?

    Yes. To apply for Janashree Bima Yojana, an individual needs to be between the age group of 18 years to 59 years.

  • Is the Janashree Bima Insurance Scheme exempt from Goods and Service Tax (GST)?

    Yes, Janashree Bima Yojana is exempt from GST. This is because the government wants to encourage and improve participation of people.

  • Is JBY or Janashree Bima Yojana, a scheme offered under life insurance?

    No, under this insurance scheme financial assistance is provided even if there is partial or permanent disability because of an accident.Thus, this scheme is not just limited to offering coverage in case of death of a person.

  • When was Janashree Bima Yojana launched?

    Janashree Bima Yojana was launched by the Government of India on 10th August, 2000.