Ø      Objectives :

à  To provide Group Insurance for the members of SHGs, JLG, RMG, Farmers Club, Men groups, youth club etc.

Ø      Eligibility :

à  Members of SHGs, Joint Liability Group (JLG), Rythu Mithra Group, Artisans, Farmers Club, Men groups, youth club etc financed by Indian Bank, between ages 18 years and 59 years and below the poverty line.

Ø      Benefits :

à  In the event of death of the members a sum of Rs.30000 will become payable.

à  In the event of death by accident or partial disability due to accident the following amount will become payable.

Ø      Premium :

à  Annual Premium- Rs. 200/- per member. Out of this Rs.100/- is borne by Social Security Fund established by Govt. of India with LIC. Hence the Member has to pay only Rs.100/- per annum.

Ø      Add on Benefits :

à  The children of the members covered under JBY scheme will be given scholarships on selective basis under Shiksha Sahaya Yojana scheme. Scholarships to the wards in classes 9, 10, 11 and 12 @ Rs.100 per month to 2 children per family.

Ø      Additional Package :

à  Assured Life coverage of Rs. 5000/- in the event of death of the spouse of the member to the spouse of the group members with an extra premium of Rs.25 per member per annum.