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Which of the following statements is NOT correct in context of ‘Aam Aadmi Bima Yojana’?
It is a Social Security Scheme for rural landless household
The member to be covered should be aged between 18 and 59 years
The insured person has to pay a nominal premium of Rs. 50 annually
Funds generated under this scheme are being managed by LIC of India
3rd statement is incorrect. The premium of Rs.200/- per person per annum is shared equally by the Central Government and the State Government, so the insured person has to pay no premium.
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