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
India has taken a significant step towards the future of urban transportation with the blessing…
The 23rd edition of Commonwealth Games is slated to take place in Glasgow, Scotland from…
India has granted authorization for its first dengue vaccine to be used, which indicates a…
The Supreme Court has instructed the Central Government to form a committee within two weeks…
The Mukhyamantri Swasth Bastar Abhiyan (Chief Minister's Health Bastar Mission) is showing satisfactory results as…
India's Index of Core Industries (ICI) witnessed a 5% growth year-on-year in June 2026 as…