Dear readers,
Recently, Prime Minister Narendra Modi
launched three major social security schemes in Kolkata. The schemes are the Pradhan
Mantri Suraksha Bima Yojana, the Pradhan Mantri Jeevan Jyoti Bima Yojana and the
Atal Pension Yojana.
The Pradhan Mantri Suraksha Bima Yojana
provides accident and disability cover, the Pradhan Mantri Jeevan Jyoti Bima
Yojana is a life insurance plan and the Atal Pension Yojana is a formal pension
scheme. The three schemes will come into effect from June 1, 2015 and would
benefit people when they are 60 years old.
In this article we provide you information
about Pradhan Mantri Jeevan Jyoti Bima Yojana, which will help you in
your studies as well as in your upcoming exams.
Pradhan
Mantri Jeevan Jyoti Bima Yojana:
It is a low premium insurance scheme which will link with the Pradhan Mantri
Jhan Dhan Yojna.
Eligibility: Person with the age group of 18 years to 50 years and
have bank account are eligible for the scheme. If the account is opened before
attaining the age of 50 years, the life cover would remain intact up to the age
of 55 years, if premium is paid regularly.
Who will implement this Scheme?: The scheme will be offered by Life Insurance
Corporation and all other life insurers who are willing to join the scheme and
tie-up with banks for this purpose.
Annual Premium: Premium payable for this scheme is Rs.330 per year
i.e. less than Rs.1 per day.
How to avail the
benefit of this scheme?
First step is to link your Aadhar card with the bank
account. After linking Aadhar card with bank account, , a simple form is to be
filled every year and to be submitted to the bank before 1st of June, in order
to avail the benefit of this scheme.
Key points of the
scheme:
1. The payment of premium will be directly auto-debited
by the bank from the subscribers account.
2. Risk coverage of Rs.2
Lakh in case of death for any reason.
3. The scheme will be offered
by Life Insurance Corporation and all other life insurers who are willing to
join the scheme and tie-up with banks for this purpose.
4. The policy holder is required to
renew the policy each year and the premium will be auto-debited from his bank
account.
5. Nominee name is to be given in the form along with
relationship. In case the nominee is minor, name of the guardian is also to be
given.
6. Government contribution towards
this scheme will be decided separately each year. The contribution will come
from the unclaimed money lying idel in various public welfare fund.
7. The premium paid will be tax-free
under section 80C and also the proceeds amount will get tax-exemption u/s 10(10D).