PMSBY/PMJJY

 

The scheme is available to people in the age group of 18 to 70 years with a bank account who give their consent to join/enable the auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhaar would be the primary KYC for the bank account.

The risk coverage under the scheme is Rs.2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability. The premium of Rs. 12 per annum is to be deducted from the account holder’s bank account through the ‘auto-debit’ facility in one installment. The scheme is being offered by Public Sector General Insurance Companies or any other General Insurance Company who are willing to offer the product on similar terms with necessary approvals and tie-ups with banks for this purpose.

Pradhan Mantri Jeevan Jyoti Bima Yojana

 

The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join/enable the auto-debit. Aadhaar would be the primary KYC for the bank account. The life cover of Rs. 2 lakhs shall be for the one year period stretching from 1st June to 31st May and will be renewable.

Risk coverage under this scheme is for Rs. 2 Lakh in case of death of the insured, due to any reason. The premium is Rs. 330 per annum which is to be auto-debited in one installment from the subscriber’s bank account as per the option given by them on or before 31st May of each annual coverage period under the scheme. The scheme is offered by the Life Insurance Corporation and all other life insurers willing to offer the product on similar terms with necessary approvals and tie-ups with banks for this purpose.