The Life Insurance Corporation of India (LIC) will celebrate October as Social Security Month to stress the message of social security, particularly to the socially economically backward. At present the major social security scheme of LIC is the ‘Aam Admi Bima Yojana’, with an add-on benefit of ‘Shiksha Sahayog Yojana’. The total lives covered by LIC under social security schemes as on March 31, 2013 are 4.81 crore. It paid Rs. 430 crore by way of claims to 1.39 lakh families below or marginally above poverty line in the last financial year..

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