The Government of India had introduced the 'Group Insurance Scheme for Powerloom Weavers' from 1st July, 2003 which is a combination of 'Janshree Bima Yojana (JBY)' and 'Add-on Group Insurance Scheme (AGIS)'. The Scheme was revised w.e.f. 1st January, 2008 and the revised Scheme was known as "Group Insurance Scheme for Powerloom Weavers". This scheme is implemented in collaboration with the Life Insurance Corporation (LIC) of India.
Not known yet
No subsidy figure has been verified from this scheme's own order. Check the source below before assuming an amount.
DETAILS The Government of India had introduced the 'Group Insurance Scheme for Powerloom Weavers' from 1st July, 2003 which is a combination of 'Janshree Bima Yojana (JBY)' and 'Add-on Group Insurance Scheme (AGIS)'. The Scheme was revised w.e.f. 1st January, 2008 and the revised Scheme was known as "Group Insurance Scheme for Powerloom Weavers". This scheme is implemented in collaboration with the Life Insurance Corporation (LIC) of India. Objective: The basic objective of this scheme is to provide insurance cover to the powerloom weavers in the case of natural death, accidental death as well as partial and permanent disability due to accident. BENEFITS 1. In the event of the natural death of the member, Sum assured of ₹60,000/- will become payable to the nominee. 2. In the event of death by accident or Partial/Total Permanent Disability due to accident, the following benefit shall be payable: On death due to accident: ₹1,50,000/- Permanent total disability due to accident: ₹1,50,000/- Permanent partial disability due to accident: ₹75,000/- Educational Benefits: An educational grant of ₹600/- per child per half year for two children studying from Class IX to Class XII for a maximum of 4 years under the Shiksha Sahayog Yojana (SSY). Premium: The total annual premium ₹470/- per member, will be shared as follows: Government of India Contribution: ₹290/- Workers/Weavers Contribution: ₹80/- Contribution from Social Security Fund: ₹100/- ELIGIBILITY The Powerloom weavers who are between 18 to 59 years of age. The scheme will be universally applicable for powerloom workers/weavers irrespective of their status with reference to BPL/APL categories. The scheme is applicable to the families of powerloom workers engaged in the activity of weaving on powerlooms and in allied pre-weaving/preparatory activities like twisting, winding, warping and sizing. Self-employed weaver families owning not more than 4 looms will also be eligible. Family for the purpose of the scheme shall be the beneficiary and his/her spouse and only one of them shall be eligible for coverage. The scheme is operational on yearly basis i.e. the premium paid will cover the applicant under this insurance scheme for one year. He can continue the insurance every year during 12th Plan period by paying premium up to the age of 59 years.
Age 18-59 years (as stated by the source)
Loan terms, interest rates, and subsidies will appear here once ingested.
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We don’t hold the step-by-step process for Group Insurance Scheme for Powerloom Weaversyet. The department’s own notification is the authority until we do — we would rather say that than invent a plausible sequence.
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