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Powerloom Industry in India
Powerloom Industry in India

Converged Group Insurance Scheme for PowerLoom Weavers and Workers

Converged Group Insurance scheme for Powerloom weavers and workers under Pradhan Mantri Jeeven Jyothi Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Aam Admi Bima Yojana (AABY)

Premium and benefits

A. The premium and benefits under PMJJBY (Including PMSBY)

Age Group Premium Structure Benefits
18 to 50 years Share of Ministry of Textiles Rs.162/- On death due to any reason under( PMJJBY) Rs.200000/-
Members ‘contribution Rs.80/- On death due to accident Rs.400000/-
(Rs.200000/- under PMJJBY and Rs.200000/- under PMSBY)
Social Security FundRs.100/- On permanent total disability Rs.200000/-
Total Rs.342/- On partial permanent disability Rs.100000/-

The Modified AABY scheme is applicable only on renewal basis for the existing Powerloom weavers who have already enrolled in the erstwhile GIS during the period. June 2016-May 2017.In other words, no fresh Powerloom weavers shall be enrolled under the AABY scheme. The premium and benefits structure under the Modified AABY scheme for existing members of GIS is as under:

Age Group Premium Structure Benefits
51 to 59 years Share of Ministry of Textiles Rs.290/- On natural death Rs. 60000/-
Member’s contribution Rs. 80/- On death due to accident Rs.150000/-
Social Security Fund Rs.100/- On permanent total disability Rs.150000/-
Total Rs.470/- On partial permanent disability Rs. 75000/-

Additional benefits

In addition to above, a weaver/worker enrolled under this scheme will also be entitled for educational grant of Rs.600/- per child per half year for two children studying in IXth Standard to XIIth standard for a maximum period of 4 years.

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