Pradhan Mantri Suraksha Bima Yojana
Pradhan Mantri Suraksha Bima Yojana was launched by Prime Minister Narendra Modi on 9 May in Kolkata.As of May 2015, only 20% of India's population has any kind of insurance, this scheme aims to increase the number.
Premium amount of Pradhan Mantri Suraksha Bima Yojana is ₹12 per year. Total risk coverage for this insurance is Rs. 2 Lakh.
Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana is available to people between 18 and 50 years of age with bank accounts.The annual premium for Pradhan Mantri Jeevan Jyoti Bima Yojana is 330 rupees excluding the service tax.The premium amount will be automatically debited from the account. In case of the death of insurer the payment of ₹200,000 will be given to the nominee.
| Pradhan Mantri Suraksha Bima Yojana | Pradhan Mantri Jeevan Jyoti Bima Yojana | |
|---|---|---|
| Age | 18-70 years | 18 to 50 years |
| Number of Policy | One Policy Per Person | One Policy Per Person |
| Joining Age | any year after giving the premium with subject to the age. | any year after giving the premium with subject to the age. |
| Total Sum Assured (Fixed) | Rs.2 lakhs | Rs.2 lakhs |
| Premium | Rs. 12 per year | Rs. 330 per year |
| Cover ceasing age | At the age of 70 years | At the age of 55 years |
| Maturity Benefit | Nil | Nil |
| Death Benefit (Natural Death) | Nil | Nil |
| Death Benefit (Accidental Death) | Rs.2 lakhs | Rs.2 lakhs |
| "Disability of both eyes, both hands, both legs or one eye and one limb" | Rs.2 lakhs | Nil |
| Disability of one eye or one limb | Rs.1 lakh | Nil |
| Maximum Insurance cover | Rs.2 lakhs (From any one of Bank account) | Rs.2 lakhs (From any one of Bank account) |
| Risk Period | 1st June to 31st May every year. | 1st June to 31st May every year. |
| Mode of Payment | "Premium will be auto debited from account in the month of May every year." | "Premium will be auto debited from account in the month of May every year." |
Fore more detail visit Indian Goverment website.
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