Pradhan Mantri Insuranace Schemes(PMJJBY)

Pradhan Mantri Insuranace Schemes(PMJJBY)

Pradhan Mantri Jeevan Jyoti Bima Yojana
(PMJJBY – LIFE INSURANCE)

 

Highlights

DETAILS OF THE SCHEME:

 

The scheme will be a one year cover, renewable from year to year, Insurance Scheme offering life insurance cover for death due to any reason.

Premium: Rs. 330 (per annum).

 

Eligibility:

Savings Bank (SB) Account holders between 18 years (completed) To 50 years  who have given the consent to join the scheme / enable auto-debit, as per the modality, will be enrolled into the scheme.

 

Risk Coverage:

Sum Assured of Rs. 2 Lakh on death of the Insured member for any reason is payable to the Nominee.

 

Policy period:

The cover shall be for one year starting from June 1 to May 31 of next year. For the Savings Account holder joining on or after June 1, the cover shall commence from the date of premium debit and end on May 31 of next year.

 

Payment Mode:

The premium will be directly auto-debited by the Bank from the subscribers’ Saving Account held with the Bank. This is the only mode available currently. For renewal of the policy, it will be auto debited between May 25 and May 31, unless the customer has given the cancellation request to the Bank for the policy.

Termination ofcover:

Closure of account with the Bank or insufficiency of balance for debiting premium.

 

 

Pradhan Mantri Suraksha Bima Yojana
(PMSBY –ACCIDENTAL DEATH INSURANCE)

 

Highlights

DETAILS OF THE SCHEME:

 

The scheme will be a one year cover, renewable from year to year for,Accident Insurance Scheme offering  accidental death.

 

Premium: Rs. 12 per annum.

 

Risk Coverage: Total coverage (sum-insured) under the scheme is Rs. 2 Lakh.

 

Eligibility:

Savings Bank (SB) Account holders between 18 years (completed) and 70 years who give their consent to join / enable auto-debit, as per the modality, will be enrolled into the scheme.

 

Policy period:

The cover shall be for one year starting from June 1 to May 31 of next year. For the Saving Account holder joining on or after June 1, the cover shall commence from  the date of premium debit and end on May 31 of next year.

 

Payment Mode:

The premium will be directly auto-debited by the Bank from the subscribers savings account held with the Bank. This is the only mode available. For renewal of the policy, it will be auto debited between May 25 and May 31, unless the customer has given a cancellation request to the Bank for the policy.

 

Termination ofcover:

 

Closure of account with the Bank or insufficiency of balance for debiting premium.