Pradhan Mantri Suraksha Bima Yojana Pradhan Mantri Jeevan Jyoti Bima Yojana Atal Pension Yojana Pradhan Mantri Sukanaya Samriddhi Yojana By Smriti Sethi
Pradhan Mantri Suraksha Bima Yojana (PMSBY Launched on 9th May 2015 Objective - to provide accidental insurance cover. It is a government backed accident insurance scheme, aimed at increasing the penetration of accidental insurance cover in India. The scheme is open and available to all citizens between the ages of 18 to 70 years. An annual premium of just Rs. 12 In case of accidental death or full disability, the payment to the nominee will be 2 lakh and in case of partial Permanent disability 1 lakh Full disability has been defined as loss of use in both eyes, hands or feet. Partial Permanent disability has been defined as loss of use in one eye, hand or foot. In April 2017, Haryana Government has announced that all Haryana residents in the age group of 18-70 years will be covered by PMSBY, wherein the state government would reimburse the premium to the beneficiary
Pradhan Mantri Jeevan Jyoti Bima Yoiana (PMJJBY Launched on 9th May 2015 This PMJJBY provides life insurance cover to citizens. This Yojana is a government backed life insurance scheme. The scheme is open and available to all citizens between the ages of 18 to 50 years. Policy holders can get life insurance cover of Rs. 2 Lakh with an annual premium of Rs. 330.
Atal Pension Yojana (APY Launched on 9th May 2015. It especially targeted the private unorganized sector and citizens between the ages of 18 to 40 years The scheme provides a monthly pension of Rs. 1000 to Rs. 5000 per month based on the contributions made by the beneficiary. For every contribution made to the pension fund, The Central Government would also co-contribute 50% of the total contribution or 1,000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years. A subscriber joining the scheme of Rs. 1,000 monthly pension at the age of 18 years would be required to contribute Rs. 42 per month. However, if he joins at age 40, he has to contribute Rs. 291 per month. Similarly, a subscriber joining the scheme of Rs. 5,000 monthly pension at the age of 18 years would be required to contribute Rs. 210 per month. However, if he joins at age 40, he has to contribute Rs.1,454 per month. The age of exit and start of pension would be 60 years. Therefore, minimum period of contribution by the subscriber under APY would be 20 years or more.
Pradhan Mantri Sukanya Samriddhi Yojana (PMSSY The scheme is launched on 22 January 2015 It is a small deposit savings scheme for a girl child. A saving account can be opened in the name of girl child. Deposits can be made for 14 years. After the girl reaches 18 years, she can withdraw 50% of the amount for marriage or higher study purposes. After the girl completes 21 years of age, the maturity amount can be withdrawn including the interest at rates decided by Government every year. The investments and returns are exempt from section 80C of Indian income tax act The maximum investment of Rs. 1.5 Lakh per year can be made while minimum deposit is Rs. 1000/- per year. e In case of more than one girl child, parents can open another account on the different name but only for 2 girl child. Only exception is that the parents have twins and another girl child.
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