Categories: Business

IPPB launches PM Jeevan Jyoti Bima Yojana

India Post Payments Bank (IPPB) has launched a low-cost insurance scheme ‘Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)’ for its customers to bring large sections of the underserved and unserved population into the financial mainstream. IPPB has collaborated with PNB MetLife India Insurance Company for this product.

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Features of PMJJBY:

To provide protection and financial security to the poor and underprivileged, especially in unbanked and remote areas of India, in the unforeseen and unfortunate event of the loss of a family member who is primarily the breadwinner.
Anyone who has a savings account with IPPB.
Minimum age 18 years and a maximum age 50 years.
The maximum coverage of Rs 2,00,000 per life irrespective of multiple accounts/multiple certificates of insurance held under the PMJJBY scheme.
Premium Rs 330 to be paid annually.
Completion of 55 years (Age near Birthday).

Important takeaways for all competitive exams:

Managing Director & CEO of IPPB: J Venkatramu.
India Post Payments Bank (IPPB) Headquarters: New Delhi.
Prime Minister Narendra Modi had launched IPPB in 2018.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.