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
National News Bharat Taxi Launched in Gujarat: Amit Shah Unveils Cooperative Ride Platform Union Home…
Preparing for SBI PO, SBI Clerk, IBPS PO, IBPS Clerk, RBI Grade B, RBI Assistant,…
The Union Home and Cooperation Minister launched the pilot project of the PM Family Care…
Kotak Mahindra Bank has announced that its Managing Director (MD) and Chief Executive Officer (CEO)…
Ancy Sojan, who is a rising long jumper from Kerala has rewritten the history books…
After several months of escalating violence between Israel and Lebanon, the United States has brokered…