Friends.. in the last post we discussed
about Pradhan Mantri Suraksha Bima Yojana. In case you missed that post: Click Here. Today we are going to discuss about the second scheme ie. Pradhan Mantri
Jeevan Jyoti Bima Yojana.
2. Pradhan Mantri Jeevan Jyoti Bima Yojana
When
announced: In Union Budget 2015-16 presented by Finance Minister
Arun Jaitley in Loksabha on 28 February 2015.
When
launched: 9 May 2015
Who
launched: Prime Minister of India Shri.Narendra Modi
Launched
from where: Kolkata
Note: Pradhan Mantri Jeevan Jyoti Bima
Yojana is for Life Insurance Cover. Here are the features of this scheme.
Eligibility:
Available to people in the age group of 18 to 50 and having a bank account.
People who join the scheme before completing 50 years can, however, continue to
have the risk of life cover up to the age of 55 years subject to payment of
premium.
Premium:
Rs.330 per annum. It will be
auto-debited in one instalment.
Payment Mode: The payment of premium will be directly
auto-debited by the bank from the subscribers account.
Risk Coverage: Rs.2 Lakh in case of
death for any reason.
Terms of Risk
Coverage: A person has to opt for the scheme every year. He can also prefer to give a long-term option
of continuing, in which case his account will be auto-debited every year by the
bank.
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.
Government
Contribution:
(i)
Various other Ministries can co-contribute premium for various
categories of their beneficiaries out of their budget or out of Public Welfare
Fund created in this budget out of unclaimed money. This will be decided separately during the
year.
(ii)
Common Publicity Expenditure will be borne by Government.
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