Pradhan Mantri Jeevan Jyoti Bima Yojana completed 8 years.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Individuals aged between 18 and 50 and holding a bank account are eligible for the scheme. However, those who enroll before turning 50 can continue to avail life cover until the age of 55 by paying premiums.
Premium : Starting from June 1, 2022, the annual premium for the scheme will be Rs 436, which will be automatically debited in a single installment.
Risk Coverage : A sum of Rs 2 Lakh will be provided in the event of death due to any cause.
Terms of Risk Coverage : Enrollment in the scheme is required every year, but participants may choose a long-term option for automatic annual renewal through bank account auto-debit.
The Life Insurance Corporation and all other life insurers that are interested in joining the scheme and have tie-ups with banks are eligible to offer the scheme.
Other ministries can contribute premiums for their beneficiaries from their budgets or the Public Welfare Fund created from unclaimed money. The categories and contribution amounts will be determined separately during the year. The government will cover the expenses for common publicity.
Also Read:
Find More News Related to Schemes & Committees
The Daily Current Affairs Quiz which keeps you updated with the current events happening all…
Traffic congestion is a serious problem in many Asian cities, affecting millions of people every…
Uttar Pradesh is a state rich in culture, history, and religious significance. Among its many…
Many countries around the world have unique nicknames that reflect their culture, history, or geography.…
The World Day of Remembrance for Road Traffic Victims (WDR) is observed on the third…
On the occasion of the inauguration of Symbiosis International University’s first international campus at Dubai…