Get insurance on less than Re 1 per day investment in this government scheme

Modi Govt Insurance Scheme: In 2015, Prime Minister Narendra Modi started such an insurance scheme, in which insurance cover of up to Rs 2 lakh is available at a premium of just Rs 330 in a year. The name of this scheme is- Pradhan Mantri Jeevan Jyoti Bima Yojana. In this news, we are going to tell you what is the specialty of this scheme and how it can be taken advantage of?

they will get benefit

The premium for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is only Rs 330 every year. This scheme can be taken by any Indian citizen in the age group of 18-50 years. The maturity age of Jeevan Jyoti Insurance Policy is 55 years. This term plan has to be renewed every year. In this the sum assured or say the sum insured is Rs 2,00,000

Features of the plan

The Prime Minister Jeevan Jyoti Bima Yojana (PMJJBY) was launched by the Modi government on 9 May 2015 to provide the benefit of life insurance to every person of the country. No medical examination is required to buy insurance in PMJJBY.

It is very easy to take this policy and that is the best part. You can get insurance under this scheme by visiting any bank branch or through your bank’s net banking sitting at home. You can also apply by visiting the portal of this scheme. The annual premium is only Rs 330 which will be auto-debited from the customer’s savings account every year in the month of May.

will get benefit like this

However, if there is a normal death of the insured within 45 days of joining this insurance scheme, then his family members will not get the benefit of insurance. This benefit will be available after 45 days. On the other hand, if the death occurs due to accident, then the benefit of insurance cover will be available immediately. In this way, in case of accidental death, insurance cover is available from day one.

In a way, PMJJY is a term insurance plan of the Modi government. A term plan means that the insurance company pays the sum insured only on the death of the policyholder during the course of the policy. If the policyholder remains well after the completion of the term of Jeevan Jyoti Bima Yojana, then he does not get any benefit.

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