Government Schemes: After the corona epidemic, people have become more aware about insurance. At the same time, the government is also providing insurance facility at very low premium so that every section of the society can take advantage of it. There are two schemes of the central government regarding this, Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) which gives you a cover of up to 4 lakhs.
To take advantage of up to Rs 4 lakh, you have to invest in two schemes of the government. You can take advantage of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) by investing a little money. For both these schemes, you will have to pay only Rs 342 annually.
Prime Minister’s Suraksha Bima Yojana
People between the age group of 18-70 years can take advantage of PMSBY scheme. The annual premium of this plan is Rs 12 only. The premium of PMSBY policy is also deducted directly from the bank account. The bank account is linked with PMSBY at the time of purchasing the policy. According to the PMSBY policy, in case of death or total disability of the customer who buys the insurance, his dependent gets an amount of Rs 2 lakh. At the same time, if the insured is disabled, he gets help up to Rs 1 lakh.
Pradhan Mantri Jeevan Jyoti Bima Yojana
The annual premium for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is only Rs 330. Any Indian citizen in the age group of 18-50 years can take this scheme. It has to be renewed every year. In this, the sum assured i.e. the sum insured is Rs 2 lakh. Both these are term insurance policies in which insurance is available for one year. No medical examination is required to buy insurance under Pradhan Mantri Jeevan Jyoti Bima Yojana.
There should be sufficient amount in the account
Their premium is deposited every year in May-June and this premium is automatically deducted from your bank account. Both the plans are on yearly basis. The insurance cover of both these plans is available from June 1 to May 31. For this you need to have a bank account. At the same time, if the bank account is closed at the time of premium deduction or there is not enough balance in it, then the insurance can also be canceled.
