Pradhan Mantri's schemes Jan Dhan Yojana, Suraksha Bima Yojana, Jeevan Jyoti Bima Yojana are help the poor
PMJDY is a National Mission on Financial Inclusion
encompassing an integrated approach to bring about comprehensive
financial inclusion of all the households in the country.
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| Pradhan Mantri Jan-Dhan Yojana (PMJDY) |
1. Pradhan Mantri Jan-Dhan Yojana (PMJDY)
Objective of "Pradhan Mantri Jan-Dhan Yojana (PMJDY)" is ensuring access to various financial services like availability of basic savings bank account, access to need based credit, remittances facility, insurance and pension to the excluded sections i.e. weaker sections & low income groups. This deep penetration at affordable cost is possible only with effective use of technology.
PMJDY plan envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension facility.
In addition, the beneficiaries would get RuPay Debit Card having inbuilt accident insurance cover of ? 1 lakh. The plan also envisages channeling all Government benefits (from Centre / State / Local Body) to the beneficiaries accounts and pushing the Direct Benefits Transfer (DBT) scheme of the Union Government.
The technological issues like poor connectivity, on-line transactions will be addressed. Mobile transactions through telecom operators and their established centres as Cash Out Points are also planned to be used for Financial Inclusion under the Scheme. Also an effort is being made to reach out to the youth of this country to participate in this Mission Mode Programme.
For more visit on official website : https://pmjdy.gov.in/
Source: Ministry of Finance
2. Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurance scheme in India. This is scheme launched by Prime Minister Narendra Modi on 9 May 2015 in Kolkata.
PMSBY scheme came into existence to offer accident insurance to the people of India. In 2016, it was observed that only 20% of the Indian citizens had an insurance cover. However, Pradhan Mantri Suraksha Bima Yojana aspires to change this statistic in a positive manner.
Eligibility: Bank Savings Account holders between 18 years and 70 years who have given the consent to join the scheme / enable auto-debit, as per the modality, will be enrolled into the scheme.
Premium: As per the guidelines by Ministry of Finance, the premium will be Rs.12 gets debited automatically from the insured person’s bank account every year.
Risk Coverage: This policy offers an annual cover of Rs.1 lakh for partial disability and Rs.2 lakhs for total disability/death for a premium of Rs.12.
👉 Click for more detail Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Source: Ministry of Finance
3. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJYBY)
Eligibility: Bank Savings Account holders between 18 years and 50 years who have given the consent to join the scheme / enable auto-debit, as per the modality, will be enrolled into the scheme.
Policy period: The cover shall be for one year starting from June 1 to May 31 of next year. For the Savings Account holder joining on or after June 1, the cover shall commence from the date of Account holder’s request and end on May 31 of next year.
Premium: As per the earlier guidelines by Ministry of Finance, the annual premium for PMJJBY scheme was constant at Rs.330 for a period of 1 year starting from June 1 to May 31 irrespective of the request date of the customer into the scheme.
With
effect from September 1, 2018, Ministry of Finance has revised the
premium payment structure on quarterly basis depending on the request
date of the Account holder into the scheme.
The revised premium structure is as follows:
- June, July and August – Annual Premium of Rs.330 is payable
- September, October and November – Premium of Rs.258 is payable
- December, January and February – Premium of Rs.172 is payable
- March, April and May – Premium of Rs.86 is payable.
The
premium amount will be decided basis the date of request of the Account
holder into the scheme and not as per the date of debit from the
account.
For e.g. if an Account holder has placed a request for PMJJBY scheme on August 31, 2018 the annual premium of Rs.330
will be applicable to him/ her for the entire one year. Although the
debit in his/ her account will be completed in the month of September
2018.
At the same time, if Account holder has requested for PMJJBY scheme on September 1, 2018 the pro rate premium of Rs.258 will be applicable to him/ her as per revised structure.
Payment Mode: The premium will be directly auto-debited by the bank from the Account holder’s Savings Account held with the Bank. This is the only mode available currently. For renewal of the policy, it will be auto debited between May 25 and May 31, unless the customer has given the cancellation request to the bank for the policy.
Risk Coverage: Sum assured of Rs.2 lakh on death of the Insured member for any reason is payable to the Nominee.
Termination of assurance:
- Account holder attains age of 55 years
- Closure of account with the bank or insufficiency of balance for debiting premium.
- In case of multiple coverage under the scheme, the cover will be restricted to Rs.2 lakh and other insurance covers are terminated and premium shall be forfeited.
👉 Click for more detail Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
Source: Ministry of Finance
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Neel Kamal
Neel Kamal
Pradhan Mantri's schemes Jan Dhan Yojana, Suraksha Bima Yojana, Jeevan Jyoti Bima Yojana are help the poor
Reviewed by Neel Kamal
on
January 11, 2021
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Reviewed by Neel Kamal
on
January 11, 2021
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