YSR Bima

YSR Bima is an insurance policy launched by Government of Andhra Pradesh to provide relief for the families of unorganized workers of below poverty line.[1]

YSR Bima
Type of projectInsurance Policy
LocationAndhra Pradesh, India
FounderGovernment of Andhra Pradesh
Chief MinisterY. S. Jagan Mohan Reddy
MinistryLabour Department
StatusActive
Websitewww.ysrbima.ap.gov.in

Development

The scheme was launched by Chief minister of Andhra Pradesh Y. S. Jagan Mohan Reddy[2] in association with the central government scheme Pradhan Mantri Suraksha Bima Yojana. The Government of Andhra Pradesh continued the scheme even after the central government backed out from paying 50 percent of the premium from April, 2020.[3] The second phase of YSR Bima was launched on 1 July 2021 where 750 crore rupees[4] were disbursed to provide insurance premiums to 1.32 crore families of below poverty line.[5] Under the scheme, the total amount of 1307 crores was spent during the first two years.[6] Families of 12,039 beneficiaries were covered under the scheme though they have died before completing the registration process.[7]

The scheme

YSR Bima is eligible to all the primary unorganized workers aged from 18 to 70 of the families belonging to below poverty line. Insurance amount of ₹5 Lakh is deposited to the families of workers aged 18–50 in case of accidental death or total permanent disability and ₹3 Lakh for the families of people aged between 51 and 70 years.[8]

Insurance amount of ₹1 Lakh would be paid if the breadwinner of the family aged between 18 and 50 dies naturally.[9]

References
  1. "YSR Bima launched for BPL families". The Hindu. 2020-10-22. ISSN 0971-751X. Retrieved 2021-09-25.
  2. "Jagan launches YSR Bima insurance cover scheme". Deccan Chronicle. 2020-10-22. Retrieved 2021-09-25.
  3. "Rs 750 Cr allotted for YSR Bima, govt took entire responsibility of scheme: CM Jagan". Deccan Chronicle. 2021-07-02. Retrieved 2021-09-25.
  4. "Jagan launches YSR Bima, allocates ₹750 cr. for 2021-22". The Hindu. 2021-07-02. ISSN 0971-751X. Retrieved 2021-09-25.
  5. "Andhra Pradesh Launches Second Phase of YSR Bima Scheme for Poor". News18. 2021-07-01. Retrieved 2021-09-25.
  6. "The state government had spent Rs 1307 crore for YSR Bima". ANI News. 2021-07-01. Retrieved 2021-09-25.
  7. "AP Govt To Extend YSR Bima Insurance To 12K Families Not Covered Under It". Sakshi Post. 2021-03-21. Retrieved 2021-09-25.
  8. "insurance amount for accidental death and total permanent disability for people aged between 18-50 years is ₹5 lakh and for those between 51-70 years ₹3 lakh". @businessline. 2020-02-21. Retrieved 2021-09-25.
  9. "An insurance amount of Rs 1 lakh will be paid if the beneficiary in the age group of 18 to 50 years". The New Indian Express. 2021-06-10. Retrieved 2021-09-25.
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