Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Come June and you may have an additional insurance option backed by the Govt.

• Pradhan Mantri Suraksha Bima Yojana (PMSBY)
• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Some details:

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

• Eligibility - 18 - 70 yrs (need bank account)
• Premium - 12 Rs per annum
• Risk cover - 2L (for death or permanent disability) and 1L (for partial disability)
• Term - pay per year to renew
• Scheme premium comes under section 80C
• Amount also comes under tax exemption (< 1L), else TDS of 2% (if no Form 15H/G is given)

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

• Eligibility - 18 - 50 yrs (need bank account)
• Premium - 330 Rs per annum
• Risk cover - 2L (death)
• Term - pay per year to renew

More details soon.