new Delhi. The government is making many efforts to provide social security to the weaker sections of the country. For this, many schemes are being run by the government. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), started in 2015, is also a similar scheme, whose purpose is to provide security to the weaker sections.
The benefit of this scheme can be availed by all the people of 18 to 50 years of the country. To take advantage of this, you must have a savings account in any bank. The annual premium money will continue to be auto-debited from this account.
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Automatically deducted premium
Under this scheme, you can avail up to Rs 2 lakh by paying a premium of just Rs 330. This insurance policy has to be renewed every year. Money gets auto-debited from your bank account before 31st May every year.
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55 The policy terminates at the age of one year
Under PMJJBY, the person whose name is insured gets a maximum life cover of Rs 2 lakh. On the death of the person associated with the scheme, the concerned bank gives an amount of Rs 2 lakh. In this, the same premium amount has been fixed for people of all ages, which is Rs 330. The plan automatically terminates when the policyholders attain the age of 55 years.
1 from june 31 one year till May
The policy starts from 1st June and remains valid till 31st May. Its premium is automatically deducted every year from the account of the policyholders on the due date. Aadhar card, identity card, mobile number, passport size photograph and bank account passbook are required to take advantage of this scheme.
Tags: investment, PMJJBY, Saving
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