LIC Janashree Bima Yojana
What is the nature of this policy?
LIC Janashree Bima Yojana policy is a scholarship scheme that was launched on 31st December 2001. This plan was particularly formed to provide the benefits for the children of those members of the scheme Janashree Bima Yojana.
What is the basic eligibility for joining this policy?
The basic eligibility criteria for joining under this scheme are as follows. Those students who are studying in classes 9th to 12th and whose parents are already using the LIC Janashree Bima Yojana scheme are only eligible for the scholarship given under this policy.
In case if any of students under the scheme fails and gets detained in the same standard, that particular student will not be eligible further for the scholarship for the succeeding year in the same standard.
What are the benefits of this policy?
The following are the benefits that are available under this LIC Janashree Bima Yojana scheme. For the maximum period of about 4 years, each child will be paid a scholarship of Rs.300 per quarter. But this benefit is restricted only for two children per family or per member of the scheme.
Some important benefits of this policy:
There is no premium charged for the scholarship provided under this scheme. The following details guide you in claiming the scholarship. The students who are eligible for the scholarship are identified by the Nodal Agency. The member of LIC Janashree Bima Yojana whose child is eligible for the scholarship has to fill up the application form and submit it to the Nodal agency.
How many students will be provided the scholarship?
Only a limited number of students will be provided with this scholarship and hence the eligibility is mainly made under the basis of poorest of the poor.