Bima Yojana


All the details of Pradhan Mantri Suraksha Bima Yojana and  Pradhan Jivan Jyoti Bima Yojana are given below

Pradhan Mantri Suraksha Bima Yojana

Highlights of the Pradhan Mantri Suraksha Bima Yojana (PMSBY – Scheme 1 – for Accidental Death Insurance) are:

  • Eligibility: Savings Bank (SB) Account holders between 18 years (completed) and 70 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the modality, will be enrolled into the scheme.
  • Policy period: The cover shall be for one year period starting from June 1, 2015 to May 31, 2016 for which option to join / pay by auto-debit from the designated Savings Bank account on the prescribed forms will be required to be given by May 31, 2015 – extendable up to May 31, 2016. For the saving A/c holder joining after May 31, 2015 the cover shall end on May 31, 2016.
  • Premium: Rs. 12 per annum.
  • Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.
  • Risk Coverage: Total coverage (sum-insured) under the scheme is Rs. 2 Lakh.

Pradhan Mantri Jeevan Jyoti Bima Yojana

Highlights of the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY – Scheme 2 – for Life Insurance) are:

  • Eligibility: Savings Bank (SB) Account holders between 18 years (completed) and 50 years (age nearer birthday) who have given the consent to join the scheme / enable auto-debit, as per the modality, will be enrolled into the scheme.
  • Policy period: The cover shall be for one year period starting from June 1, 2015 to May 31, 2016 for which option to join / pay by auto-debit from the designated savings bank account on the prescribed forms will be required to be given by May 31, 2015, extendable up to May 31, 2016.
  • Premium: Rs. 330 (per annum).
  • Payment Mode: The premium will be directly auto-debited by the bank from the subscribers’ savings bank account. This is the only mode available currently.
  • Risk Coverage: Sum Assured of Rs. 2 Lakh on death of the Insured member for any reason is payable to the Nominee.

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