All About PM SURAKSHA Bima Yojana & PM Jeevan Jyoti Bima Yojana (in Hindi)

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Vikas Kumar Singh Tomar

Pradhan Mantri Jeevan Jyoti Bima Yojana Pradhan Mantri Jeevan Jyoti Bima Yojana is a life insurance scheme launched in 2015 for people between 18 and 50 years of age with bank accounts. It provides a cover of Rs. 2 Lakh on natural death or death by accidents (term plan insurance). Salient features of Pradhan Mantri Jeevan Jyoti Bima Yojana Anybody who has an Aadhaar number with a linked bank account and falls in the age- bracket of 18-50 years can enrol for the same. The annual premium for the scheme is Rs. 330 which has to be automatically debited from the subscriber’s bank account. Anyone can either renew the scheme annually or opt for the long-term provision in which case the amount will be automatically deducted from the The scheme is being implemented by Life Insurance Corporation of India and all other major insurers in the country. Pradhan Mantri Suraksha Bima Yojana Pradhan Mantri Suraksha Bima Yojana is a life Insurance Scheme to provide insurance cover at minimal annual premium for death or disability by accidents. The risk coverage of the scheme for accidental death or full disability is Rs. 2 lakhs and for partial disability is Rs. 1 lakh. Salient Features of Pradhan Mantri Suraksha Bima Yojana Anyone who falls in the age-bracket of 18-70 years can avail the benefit of this scheme and get enrolled. He should have a bank account linked with his Aadhaar card. The annual premium is a meagre amount of Rs. 12. This is comparatively very reasonable as similar insurance in private sector would have a premium of Rs. 100, as per experts. The payments will be automatically debuted from the subscriber’s account annually. Difference between PMJJBY and PMSBMY The differences between the two schemes are as follows: Feature and Eligibility Pradhan Mantri Suraksha Bima Yojana (PMSBY) Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Insurance cover offered for Accidental death/disability/accidental injury Death due to any reason Age at entry 18-70 years 18-50 years Sum Assured 200000 200000 Premium (Annual) Rs. 12 Rs. 330 Cover ceasing age 70 55 Maturity Benefit Nil Nil Death Benefit (Not by accident) Nil 200000 Death Benefit (by accident) 200000 200000 Disability of both eye, both hands, both legs or one eye and one limb 200000 Nil Disability of one eye or one limb 100000 Nil Maximum cover 200000 (From any one of Bank account) 200000 (From any one of Bank account) Risk Period 1st June to 31 May every year on deduction of premium 1st June to 31 May every year on deduction of premium Mode of Payment Auto debit from bank account Auto debit from bank account