The government is providing insurance facility for very less money to reach every section of the society. In this sequence, there are government schemes, Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), which is giving you a cover of up to Rs 4 lakh.
Bank is giving this facility of Rs 4 lakh
To get the benefit of Rs 4 lakh, you have to invest in two schemes of the government. You can get its benefits by just investing some money in Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). In these two schemes, only Rs 342 has to be deposited annually.
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Let us tell you that under the Pradhan Mantri Suraksha Bima Yojana, in case of death of the insured in an accident or completely disabled, a compensation of Rs 2 lakh is available. Under this scheme, if the insured becomes partially or permanently disabled, then he gets a cover of Rs 1 lakh. In this, any person between the age of 18 to 70 years can take cover. The annual premium of this plan is also only Rs 12.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
It is worth noting that under the Pradhan Mantri Jeevan Jyoti Bima Yojana, the nominee gets Rs 2 lakh on the death of the insured. Any person from 18 to 50 years can take the benefit of this scheme. For this scheme also you have to pay only Rs 330 annual premium. Let us tell you that both these are term insurance policies. This insurance is for a year.
Insurance cover from 1st June to 31st May
You should know that this insurance cover is from 1st June to 31st May. For this you need to have a bank account. Insurance can also be canceled due to closure of bank account or insufficient balance in the account at the time of premium deduction. Therefore, before taking insurance, take all the information.
