Pradhan Mantri Jeevan Jyoti Bima Yojana
The Pradhan Mantri Jeevan Jyoti Bima yojana launched by honorable prime ministry Narendra Modi in 2015 and implemented by Life insurance corporation of India.
Objective of Pradhan Mantri Jeevan Jyoti Bima Yojana
To increase the level of insurance penetration in the country to offer insurance cover to poor people and under privileged section of the society.
Beneficiary of Pradhan Mantri Jeevan Jyoti Bima Yojana
1. The beneficiary of this scheme is poor and low income section of the society.
2.The applicants of the scheme is people between the age of 18 years to 50 years.
3. The applicants must have the bank account to eligible for Pradhan Mantri Jeevan Jyoti Bima Yojana.
4. Is is compulsory to connect Aadhar card with bank account.
Benefits of Pradhan Mantri Jeevan Jyoti Bima Yojana
There are various benefits for beneficiary as below.
1.Risk coverage : In case death of the insured people death coverage of Rs. 200000.
2.Mturity:The scheme if not offering the any maturity .
3.Term: The scheme is offer Risk coverage of for 1 year but it should be renewed yearly.
4.Tax benefit: The scheme is covered under Section 80C monthly premier . it will provide tax benefit for policy holder.
5.Life Cover :The scheme provide Rs 2 lakh as life cover if it is renew every year before 31 may.
6.Premium: The premium of policy is Rs 330 every year before the 31 may.
7.Pyment: The payment will be directly auto-debited by the bank to policy holders account.
Government assistance in Pradhan Mantri Jeevan Jyoti Bima Yojana
1.The public welfare fund generate the budget out of unclaimed money.
2.This is decided separately every year.
3.common publicity expenses will be borne by government.
Conclusion
The scheme provide insurance facility to poor people. The scheme generate the awareness about the safety and security of the life.
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