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<h1>Social security scheme Aam Aadmi Bima Yojana provides group death and disability cover with shared premium financing.</h1> Aam Aadmi Bima Yojana is a Social Security Scheme administered by LIC as a group insurance program for persons aged eighteen to fifty-nine in identified occupational groups, providing specified death and disability benefits plus a scholarship add-on. Funding is by an annual premium shared between the Central Social Security Fund administered by LIC and the State/Nodal Agency or individual; premium and scholarship payments are debited from centralized funds with statewise beneficiary coverage and annual outgo reported in annexures.
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