CM Launches Life Insurance for Landless People

Patna: Aug. 7, 2008

Chief Minister Nitish Kumar on Thursday launched the 'Aam Aadmi Beema Yojana', a program intended to provide life insurance to people with limited financial means saying the scheme would come very handy in the event of unexpected death of the family bread-earner.

Kumar inaugurated the scheme launched in Jehanabad through video-conferencing at his residence on 1 Anne Marg.

More than 2 lakh landless people would be able to take advantage of this scheme this year alone giving some sense of security following a tragedy in the family, the Chief Minister said.

Urging the Life Insurance Corporation (LIC) to simplify their application form, Kumar said he expected speedy settlement of cases with least bureaucratic interference.

"What's the point in having the money when you don't have it when you need it most?" he said.

The premium would be jointly paid by the state and Central government, the Chief Minister said.

The LIC will pay Rs. 30,000 at the death of the policy-holder, Rs. 75,000 in the event of an accidental death or full disability cause by an accident, and Rs. 37,500 in the event of partial disability, LIC officials said.