The Indian Government took an important step to help the poor and common people of the country.
In his first term, Prime Minister Narendra Modi’s government introduced two insurance plans to provide financial security.
These plans are called Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana.
Prime Minister Jeevan Jyoti Insurance
These plans allow regular citizens to get insurance coverage up to Rs 4 lakh by paying a small premium.
Pradhan Mantri Jeevan Jyoti Bima Yojana, started in 2015, offers insurance coverage up to Rs 2 lakh for individuals aged 18 to 50 years.
The goal of these plans is not just to provide financial security but also to ensure that if the insured person passes away, their dependents receive Rs 2 lakh.
To avail this benefit, the insurance holder pays only Rs 436 every year. In return, they get insurance coverage for one year.
These plans not only give economic security but also show that the government wants to ensure the well-being and safety of every citizen.
Such plans are crucial for financial stability and give people confidence about their future and their family’s future.
Pradhan Mantri Suraksha Bima Yojana
Pradhan Mantri Suraksha Bima Yojana (PMSBY) by the Indian Government is a big help for the general public.
Launched in 2015, individuals between 18 and 70 years old get insurance coverage of Rs 2 lakh for accidental death or total disability and Rs 1 lakh for partial disability.
This plan is especially helpful for those in the low-income group.
What makes this insurance unique is that it only requires an annual premium of Rs 20, making it easily accessible.
This facility provides financial security to the holders and protects them from unexpected events.
Paying the premium under this plan is easy. Bank account holders can apply for it at their bank, and the premium is paid annually from 1st June to 31st May.
Additionally, banks offer an auto-debit facility, reducing the worry of depositing the premium every year.
Pradhan Mantri Suraksha Bima Yojana has brought a new level of financial security to the lives of common citizens in India, creating a sense of safety.
This plan not only gives them an economic shield but also prepares them for future uncertainties.
