Mumbai: The government has released a total of Rs1,500 crore to the Life Insurance Corporation of India (LIC) for two separate social security schemes aimed at women and the rural poor.

While Rs1,000 crore will be used by the LIC to bring another 10 million rural landless households under the social security scheme 'Aam Admi Bima Yojana', Rs500 crore will go towards maintaining a fund for women self-help groups.

The insurance scheme, which will provide death and disability benefits to the head of the family or earning members of the family, will be extended to another 10 million landless households by 30 September 2009, information and broadcasting minister P R Dasmunsi said after a cabinet meeting on Thursday.

The scheme, which is being implemented through the LIC, was launched on 2 October last year.

Families covered under the insurance scheme are entitled to receive Rs75,000 in case the head or earning member of the household dies in an accident or is permanently disabled.

In case of natural death or partial disability, the benefits amount to Rs37,500.

The annual premium per family is Rs200, to be equally shared by the centre and the concerned state government.

LIC will get Rs500 crore as the government's 50 per cent share of the premium under the social security fund that will go toward Janashree Bima Yojna (JBY) for women's self-help groups, Dasmunsi said.

The annual premium is Rs200 and the concerned state government pays the balance 50 per cent.

''LIC will cover over 250,000 women's self-help groups under JBY by 31 March 2009,'' he added.