Life Insurance: Central life insurance schemes likely to merge

The government is planning to merge two centrally-sponsored life insurance schemes — Janashree Bima Yojana (JBY) and Aam Aadmi Bima Yojana (AABY) — in a bid to streamline expenditure and effectively allocate resources to ensure better delivery of the schemes.

A Cabinet note on the merged scheme, to be called Aam Aadmi Janashree Bima Yojana, has already been circulated among the concerned departments last month, official sources said. Read more