The establishment of three new security schemes by Government of India: two which are aiming at insurance, the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY), and one aiming at pension, the Atal Pension Yojana (APY)
The main attributes of the three schemes are listed below:
1. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMSBY) – This scheme, aimed at the age group of 18-70, provides a sustainable one year accidental death-cum-disability insurance of Rs 2 lakh, for both partial and permanent disability. It shall be available to each account holder of a savings bank account holders. The premium charged is that of Rs 12 per annually per subscriber.
2. Pradhan Mantri Suraksha Bima Yojana (PMJJBY) – This scheme, aimed at the age group of 18-50, provides a renewable one year life insurance of Rs 2 lakh, covering death irrespective of cause. This scheme, just like the PMSBY, is also accessible for all account holders of a savings bank. The premium charged is that of Rs 330 annually per subscriber.
3. Atal Pension Yojana (APY) – This scheme, aimed at the age group of 60 and beyond, provides subscribers with a fixed minimum pension of Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000 or Rs 5,000 per month. This range is completely dependent on the amount of cumulative allowance the subscriber has made between his years from 18 up to 40. This scheme is also aiming to prioritise the unorganised sector of India.
Please contact you bank today.
The main attributes of the three schemes are listed below:
1. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMSBY) – This scheme, aimed at the age group of 18-70, provides a sustainable one year accidental death-cum-disability insurance of Rs 2 lakh, for both partial and permanent disability. It shall be available to each account holder of a savings bank account holders. The premium charged is that of Rs 12 per annually per subscriber.
2. Pradhan Mantri Suraksha Bima Yojana (PMJJBY) – This scheme, aimed at the age group of 18-50, provides a renewable one year life insurance of Rs 2 lakh, covering death irrespective of cause. This scheme, just like the PMSBY, is also accessible for all account holders of a savings bank. The premium charged is that of Rs 330 annually per subscriber.
3. Atal Pension Yojana (APY) – This scheme, aimed at the age group of 60 and beyond, provides subscribers with a fixed minimum pension of Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000 or Rs 5,000 per month. This range is completely dependent on the amount of cumulative allowance the subscriber has made between his years from 18 up to 40. This scheme is also aiming to prioritise the unorganised sector of India.
Please contact you bank today.
