Amid corona lockdown, Two insurance schemes were launched by the Modi government in its first term especially to benefit the poor and the unorganized sector. These are Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). The first is for life insurance and the second is for accident insurance. The most important thing in these plans is that they have to be given a nominal premium. Where there is an annual premium of Rs 330 in PMJJBY, then only Rs 12 per year premium is to be paid in PMSBY.
For your information, let us tell you that in this way a customer can avail both these schemes at a premium of Rs 342 per year. The insurance period of both these plans is from June 1 to May 31. Therefore, the premium of both these schemes has to be deposited on or before 31 May. If you are involved in any of these schemes, then you will have to keep sufficient amount in your account till May 31, so that the premium can be deducted and you can avail the scheme for the next one year. Let us know what are the benefits of these two schemes.
In this scheme, the beneficiaries get one year insurance cover in case of accidental death or disability. People between the ages of 18 and 70 can take advantage of PMSBY. Beneficiaries of the scheme must have a savings bank account. In the event of suicide in this scheme, the family of the deceased does not get the amount of insurance. Apart from this, temporary partial disability is also not covered in this scheme. At the same time, the family gets the benefit of the scheme on the death of the beneficiary due to the murder. At the same time, under the scheme, in the event of permanent total disability and death due to accident, an insurance cover of Rs 2 lakh is available. Apart from this, in case of permanent partial disability, an insurance cover of Rs one lakh is available. Under the scheme, a cover of 2 lakhs is provided for permanent disability such as complete loss of use of both eyes or loss of use of both hands and both legs.
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