Objective of the scheme
- The main Objective of the scheme is to provide relief to the bereaved families of primary Bread earners in case of their death or disability to mitigate the financial impact due to the sudden loss of the Primary Source of income.
- The death or disability due to accident of a Primary Bread earner results in misery to his/her family with hardship and reduced earnings and excessive medical expenditure relating to the accident. Hence, there is every need to provide Accidental death and disability insurance to the Primary Bread earner towards social security. Further, even Natural death of a Primary Bread earner results in undue hardship to the surviving family members who need to be provided with some relief. Hence the State Government has introduced the YSR- Bima scheme.
Salient Features of the Scheme
- All Primary Bread earners belonging to BPL families in the State, in the age group of 18 to 70 years are eligible to be enrolled as beneficiaries of YSR- Bima Scheme.
- Benefits under the YSR -Bima Scheme are as follows:
- Rs. 5,00,000/- (Rupees five lakhs) Accidental Death and total disability relief for the age group of 18 to 50 years.
- Rs.3,00,000/-(Rupees Three Lakhs) Accidental Death and total disability Relief for the age group of 51 to 70 years.
- Rs.2,00,000/- (Rupees Two lakh only) Natural Death relief for the age group of 18 to 50 years
- All primary Bread earners will be registered through a Door-Door Survey to be undertaken by the Grama / Ward Volunteers to enroll them as beneficiaries under YSR- Bima Scheme.
- A designated Officer of the Grama Sachivalayam/Ward Sachivalayam i.e., Welfare Assistant shall be the Registering Authority.
- Guidelines for the implementation of YSR-Bima through schemes operated by Banks as per guidelines issued by GoI are as follows:
- The Primary Bread earner is required to open a savings Bank account/Jan Dan Account in any Public Sector Nationalized Bank.
- The Premium payable under the schemes will be totally borne by the State Government on behalf of the Beneficiary and the same will be paid to the Insurance Company through the Beneficiaries Bank Account.
- The total premium for the Schemes shall be paid from the Fund established by the Government
- All Grama/Ward Sachivalayams are hereby notified as YSR Bima Beneficiary Facilitation Centers, for facilitation of registration of Beneficiaries, their enrollment in social security schemes, processing of claims and for delivery of such other services required for implementation of the scheme.
- Implementing agency for this scheme shall be SERP and the CEO SERP using the services of Bima- Mithras and Village / Ward volunteers shall identify the eligible beneficiaries and facilitate the opening of Jandhan Bank accounts with zero balance.
- Implementing Agency (SERP) shall identify the members who are eligible to be covered under the scheme, enroll them as members and prepare database of such members and shall intimate the government and nodal agency (the Department of Labour) regarding such enrollment along with the data.
- Data shall be accepted by the Department of Labour after due validation
- SERP will prepare the list of insured members and share to Nodal agency.
- The premium amount shall be released by the nodal agency to the implementing agency i.e SERP under this scheme which in-turn will release the amounts into the bank account of the beneficiary.
- For the purpose of admission into the scheme, the member shall sign a formal enrolment form and the declaration of good health. If the declaration of health made by the member and other particulars are found to be satisfactory, the implementing agency may enroll the member to the scheme and include in the data base to effect the assurance subject to other conditions.
- The criteria to be satisfied for eligibility to enroll under the scheme is as follows: The members should be aged between 18 completed yrs and 70 years. He / She should be from BPL (Below Poverty line. He / She is the Primary Bread earning member or the head of the family that is living below poverty line. The decision as to the eligibility of the member for the enrolment into the scheme is fully vested with the Nodal Agency. The Nodal Agency will however, verify the eligibility of the member as per above criteria.
Verification of Age:
- The Nodal Agency has to satisfy that the member covered under the Scheme is in the respective age group as desired by the scheme. Age admission will be done based on Aadhar or any other document as specified in the notification under section 7 of the Aadhar Act
Appointment of Nominee:
- Every insured member shall appoint one or more from the spouse or children or dependents to be the nominee or nominees in accordance with Section 39 of Insurance Act 1938. In the event of death of the insured member while being covered under the Scheme, the benefits of insurance cover as assured on his life will be paid to the nominee. If the insured member does not have a spouse or child/children or dependents, then he shall appoint his legal representatives to be the nominee. The Data regarding nomination will be maintained by the Implementing Agency and they shall submit the details of nomination or legal heirs to banks for settlement of claims. In case the nominee is a minor, then the insured member shall appoint an Appointee to receive the benefit of assurance
Servicing of the Scheme:
- The nodal agency will coordinate with all concerned implementing agencies to adopt a strong IT based system to service the Scheme. The implementing agencies will maintain centralized data base of the insured members. The settlement of claims would be subject to implementing Agency submitting Claim form, claim-cum-discharge form and copy of the Death Certificate, age proof of member as required by the Corporation, details of nominee like the Aadhar number and bank account to which the claim proceeds are to be credited, and other details as required by Corporation to process the claim.