PM Suraksha Bima Yojana– The Narendra Modi government at the Center had started many such schemes in its first term, whose beneficiary is the poor class. One such scheme is Pradhan Mantri Suraksha Bima Yojana (PMSBY). This scheme is available for people aged 18 to 70 years. Under the scheme, there is an insurance cover of up to Rs 2 lakh on payment of an annual premium of Rs 20. Let us know the details about the scheme.
This is a one year accident insurance plan which provides coverage for death or disability due to accident and is renewable year after year. The eligibility is for the age group of 18-70 years. Those who have a personal bank or post office account are eligible to enrol under the scheme. The premium for death or disability due to accident is Rs. 2 lakh (Rs. 1 lakh in case of partial disability) at a premium of Rs. 20/- per annum.
Enrolment under the scheme can be done by visiting the branch/BC point of the account holder’s bank or on the bank’s website or at the post office in case of post office savings bank account. The premium under the scheme is auto debited from the subscriber’s bank account every year.
About Jeevan Jyoti Insurance Scheme
Similarly, there is also the Pradhan Mantri Jeevan Jyoti Bima Yojana i.e. PMJJBY. PMJJBY is a one-year life insurance plan that covers death due to any reason. Individuals in the age group of 18-50 years who have a personal bank or post office account are eligible to enroll under the scheme. Those who join the scheme before completing the age of 50 years can continue to cover life risks till the age of 55 years on payment of regular premiums. The premium to be paid in the scheme is Rs 436 every year.