New Delhi, Business Desk. Two insurance schemes were launched by the Modi government in its first term especially to benefit the poor and the unorganized sector. These are Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). The first is for life insurance and the second is for accident insurance. The most important thing in these plans is that they have to be given a nominal premium. In PMJJBY where there is an annual premium of Rs 330, then the PMSBY has to pay a premium of only Rs 12 per year.
In this way, the customer can avail these two plans at a premium of Rs 342 per year. The insurance period of both these plans is from June 1 to May 31. Therefore, the premium of both these schemes has to be deposited on or before 31 May. If you are involved in any of these schemes, then you will have to keep sufficient amount in your account till May 31, so that the premium can be deducted and you can avail the scheme for the next one year. Let us know what are the benefits of these two schemes.
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
In this scheme, the beneficiaries get one year insurance cover in case of accidental death or disability. People between the ages of 18 and 70 can take advantage of PMSBY. Beneficiaries of the scheme must have a savings bank account. In the event of suicide, the family of the deceased does not get the sum assured. Apart from this, temporary partial disability is also not covered in this scheme. At the same time, on the death of the beneficiary due to murder, the families get the benefit of the scheme.
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Under this scheme, insurance cover of Rs 2 lakh is provided in the event of permanent total disability and death due to accident. Apart from this, in case of permanent partial disability, an insurance cover of one lakh rupees is available. Under the scheme, a cover of 2 lakhs is provided for permanent disability such as complete loss of use of both eyes or loss of use of both hands and both legs.
Prime Minister Jeevan Jyoti Insurance Scheme (PMJJBY)
Under this plan, the customer gets an annual life insurance cover of Rs 2 lakh at an annual premium of Rs 330. People from 18 to 50 years can apply under the scheme. The customer must have a savings account. In this plan, the insurance cover is provided in case of death of the insured due to any reason. To apply in the scheme, the customer has to go to his bank branch and fill the prescribed form and submit it. At the same time, nomination can be made for the scheme through net banking or mobile banking in some banks.
