New Delhi: Not everyone in the country can pay thousands of rupees as a premium for insurance policies. In view of this, Pradhan Mantri Bima Suraksha Yojana was launched by the Central Government. In which you have to pay a premium of one rupee per month i.e. only Rs. 12 per annum. In this scheme, you get death insurance of Rs.2 lakhs.

The important thing is that the annual premium of the scheme is paid on 31st May, which is only Rs.12. If your bank account does not have a balance till this date, your policy is canceled. However, alerts are issued to consumers to deposit premiums on behalf of banks. In such a situation, you have to keep in mind that you have to take care of the balance in your bank account. Under Pradhan Mantri Suraksha bima yojana, you get a benefit of Rs.2 lakhs in case of death of an insured and is completely disabled.

On the other hand, if an insured is partially permanently disabled, he is given Rs. Under this scheme, anyone in the age group of 18 to 70 years can take cover. On the other hand, if your bank account does not have a premium balance, your policy may be canceled. If your account is closed, your policy may be canceled. An account can be added to this scheme. The policy cannot be renewed in case of non-submission of premium.

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