The correct answer is: C. 18 to 59
Aam Admi Bima Yojana (AABY) is a social security scheme launched by the Government of India in 2008. It provides life and disability cover to persons between the age of 18 to 59 years living below and marginally above the poverty line. The scheme is implemented by the Ministry of Rural Development.
The objective of AABY is to provide financial security to the poor and vulnerable sections of the society in the event of death or disability. The scheme is voluntary and open to all families living below and marginally above the poverty line.
The benefits of AABY include:
- Life cover of Rs. 2 lakh in case of death
- Disability cover of Rs. 1 lakh in case of partial disability
- Disability cover of Rs. 2 lakh in case of total disability
The premium for AABY is Rs. 200 per year. The premium is payable annually and is collected by the post office or the bank.
The benefits of AABY are payable to the nominee of the insured person in the event of death or disability. The nominee can be a spouse, child, parent, or any other relative.
AABY is a very important scheme for the poor and vulnerable sections of the society. It provides them with financial security in the event of death or disability. The scheme is very simple to enroll for and the premium is very affordable. I urge all eligible persons to enroll for AABY and avail the benefits of the scheme.
The other options are incorrect because they do not fall within the age group of 18 to 59 years.