PM Narendra Modi recently launched two
beneficiary schemes namely ‘Pradhan Mantri Bima Suraksha Yojana
(for accidental death and disabilities) and Pradhan Mantri
Jeevan Jyoti
BimaYojana (for life insurance) to help poor citizen of India.
By these schemes PM Modi trying to empower the citizen of country who
lives under poverty line and does not have financial power to fight with sudden
problems. He also thinks that these schemes will became key to make them self-
dependent at each stages of life. Here in this article I am going to give you
brief detail about these schemes.
Pradhan
Mantri Bima Suraksha Yojana:
· Purpose: To give financial benefits to dependents of family in case of accidental death and disabilities.
· Eligibility: Those Peoples can avail the advantage of this schemes whose ages resides between 18-70 years and having an active Aaadhar linked bank account.
·
Premium: Everyone can get benefit of this
scheme by giving premium of Rs 12
per year.· Purpose: To give financial benefits to dependents of family in case of accidental death and disabilities.
· Eligibility: Those Peoples can avail the advantage of this schemes whose ages resides between 18-70 years and having an active Aaadhar linked bank account.
Payment
Mode: In this
scheme payment of 12 Rs will be automatically debited from insured persons
registered bank a/c.
Risk
Coverage:
How
to apply: Everyone can
get benefit of this scheme by filling form of PMBSY at bank before 1st of June every year; the Name of nominee
should be given in the form.
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 all Public Sector General Insurance Companies and all other insurers who are willing to join the scheme and tie-up with banks for this purpose.
In this scheme you can also get the benefit of TAX rebate under section 80C but if the proceeds from insurance policy exceed Rs.1 lakh, TDS at the rate of 2% from the total proceeds if no Form 15G or Form 15H is submitted to the insurer.
·
In the case of accidental death and full disability
– Rs 2 Lakh
·
In the case of partial disability – Rs 1 Lakh.
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 all Public Sector General Insurance Companies and all other insurers who are willing to join the scheme and tie-up with banks for this purpose.
In this scheme you can also get the benefit of TAX rebate under section 80C but if the proceeds from insurance policy exceed Rs.1 lakh, TDS at the rate of 2% from the total proceeds if no Form 15G or Form 15H is submitted to the insurer.
Pradhan Mantri Jeevan
Jyoti Bima Yojana
· Purpose: To give life insurance cover to poor citizens of India
· Eligibility: Onlythose Peoples can take advantage of this schemes whose ages resides between 18-70 years and having an active Aaadhar linked bank account.
· Premium: 330Rs per year will be automatically debited from persons account through ECS in one instalment.
· Risk coverage: Rs 2 lakh will be given to nominee of Insured person in the case of death for any reason.
· How to apply: Everyone can avail the facility of this scheme by filling form at bank, people can also get the benefit of this scheme for long time by taking auto debit option, in this option Rs of 330 will automatically debited from insured persons account every year.
· Purpose: To give life insurance cover to poor citizens of India
· Eligibility: Onlythose Peoples can take advantage of this schemes whose ages resides between 18-70 years and having an active Aaadhar linked bank account.
· Premium: 330Rs per year will be automatically debited from persons account through ECS in one instalment.
· Risk coverage: Rs 2 lakh will be given to nominee of Insured person in the case of death for any reason.
· How to apply: Everyone can avail the facility of this scheme by filling form at bank, people can also get the benefit of this scheme for long time by taking auto debit option, in this option Rs of 330 will automatically debited from insured persons account every year.
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