If you are in a job, or unemployed. Or do any work. You should know about these two government schemes. If you have not added your names in both these schemes yet, do not delay, these two schemes were launched in the year 2015, and most of the people of the country have joined this scheme. Both these schemes are named- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).
Let us add the benefits of these two schemes, and how you can add your name by paying minor money. You can take advantage of these two schemes by paying just Rs (436+20 = 456) throughout the year. Citizens of the country can buy this policy every year and avail insurance.
1. Prime Minister Jeevan Jyoti Bima Yojana (Pradhan Mantri Jeevan Jyoti Bima Yojana – PMJJBY)
This is a government scheme, which provides life insurance cover of Rs 2 lakh to bank account holders between 18 and 50 years of age. Under this scheme, death is covered due to all causes including natural, casual and disasters or epidemic deaths. The annual premium of the scheme is Rs 436. The premium gets an annual auto debit from your bank account.
Under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), money is received by his nominee when the insured dies. This money is transferred directly to the bank account of the nominee.
Two lakh rupees claim
Under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), the person receives an insurance claim of up to two lakh rupees in case of death of a person taking the policy for any reason. People aged 18 to 50 years can buy Jeevan Jyoti Insurance Policy. The age of maturity of Jeevan Jyoti Insurance Policy is 55 years. This term plan has to be renewed every year.
If the premium is not deposited in a year, then the benefit of insurance will not be given and the scheme will be considered closed. But one of the facilities is that you can enter this scheme again whenever you want to enter the age of 55 years.
Every year you have to pay so much money
To buy the policy of Jeevan Jyoti Bima Yojana, you have to pay Rs 436 every year. The premium of this insurance is valid from June 1 to May 31. The best thing is that this policy is very easy to take. By going to any bank branch or you can take a policy under this scheme through the net banking of your bank.
Let me tell you, Pradhan Mantri Jeevan Jyoti Bima Yojana is a Term Insurance Plan. The term plan means that the insurance company pays the insurance amount only after the death of the policyholder during the insurance policy. If the policy holder is fine even after the completion of the time of Jeevan Jyoti Bima Yojana, then he does not get any benefit. Talking about the beneficiaries of this scheme, about 52 percent are women.
Aadhaar-Pain is needed
Aadhaar card, PAN card, passport size photo, bank passbook and mobile number are required to take the policy under Jeevan Jyoti Bima Yojana (PMJJBY).
2. Pradhan Mantri Suraksha Bima Yojana- PMSBY
This insurance scheme was also launched by the government in the year 2015. This accidental insurance is available at an annual premium of Rs 20. The government had started PMSBY to give the benefit of insurance to the lower income groups. According to the government, the purpose of this scheme is to help people in a difficult time.
Who can take advantage of the scheme?
In the Pradhan Mantri Suraksha Bima Yojana (PMSBY), the covered of one lakh rupees is available for two permanently partial disabled if the insurance holder dies in the accident or is completely disabled. Taking advantage of Pradhan Mantri Suraksha Bima Yojana (PMSBY) for just Rs 20 provides financial help to the family during crisis. People between the ages of 18 to 70 years can take advantage of this scheme.
Auto debit facility available
To avail PMSBY, you must have a bank account. If you have more than one bank account, you can take this scheme from only one bank. Every year on or before June 1, a premium of Rs 20 will be deducted from your bank account through ‘Auto Debit’ facility. The family gets a help of two lakh rupees in case of death of an insurance holder in the accident. At the same time, financial assistance of two lakh rupees is provided to the insurance holder for being completely disabled in the accident. Whereas there is an amount of Rs 1 on partial disability.
Enrollment period
The policy will be canceled if there is not enough balance for premium renewal in the account. In such a situation, all the account holders have to be ensured before 31 May that their insurance policy has been renewed. The money of insurance premium from the bank account becomes directly debit. Therefore, keep an amount of at least 20 rupees in your bank account. The enrollment period under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) is from 1 June to 31 May.
Crores of claims paid
Any citizen of the country can avail this insurance scheme. The government is trying to financially strengthen common people through this insurance policy. A person between the ages of 18 to 70 years, who has a savings account in any bank or post office, can enroll in this scheme. If an accident occurs unfortunately, nominee or legal heirs can claim.
Note: In both these schemes, you can connect with the online scheme in the bank where you have your account sitting at home. If you want offline, then you can go to the nearest branch of your bank and add names in PMJJBY and PMSBY.