Pradhan mantri- jivan bima yojana,suraksha bima yojana, atal pention yojana

 

Pradhan mantri- jivan bima yojana, suraksha bima yojana, atal pention yojana

Pradhan Mantri Suraksha Bima Yojana may be a government-backed accident insurance scheme in India. it had been originally mentioned within the 2015 Budget speech by minister of finance Late Arun Jaitley in February 2015. it had been formally launched by Prime Minister Narendra Modi on 8 May in Kolkata.

This scheme are going to be linked to the bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme. Most of those account had zero balance initially. the govt aims to scale back the amount of such zero balance accounts by using this and related schemes. Now all checking account holders can avail this facility through their net-banking service facility at any time of the year.

1. PRADHAN MANTRI JIVAN BIMA YOJNA.

Are higher premiums holding you back from getting your life insurance?
Protect your family's future through SBI Life - Pradhan Mantri Jeevan Jyoti Bima Yojana. Get a life cover of Rs 5 lakh at normal price

This plan offers -

Safety - to cover in an accident
Ease - Easy registration and fast processing without any medical tests
Strength - by a nominal premium for all ages

Schedule your family's future today.

 2.  PRADHAN MANTRI SURKSHA BIMA YOJANA.

Maturity / Implicit Benefit:

There is no maturity or surrender benefit under this plan.


Registration:

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

Government through the Budget Speech 2015 announced three ambitious 

Social Security Schemes pertaining to the Insurance and Pension Sectors, namely 

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha 

Bima Yojana (PMSBY) and an the Atal Pension Yojana (APY) to move towards 

creating a universal social security system, targeted especially for the poor and 

the under-privileged. Hon’ble Prime Minister will be launched these schemes 

nationally in Kolkata on 9th May, 2015. 

In light of the fact that a large proportion of the population have no accidental 

insurance cover, the Pradhan Mantri Suraksha Bima Yojana (PMJJBY) is aimed at 

covering the uncovered population at an highly affordable premium of just Rs.12 

per year. The Scheme will be available to people in the age group 18 to 70 years 

with a savings bank account who give their consent to join and enable auto-debit 

on or before 31st May for the coverage period 1st June to 31st May on an annual 

renewal basis. 

Under the said scheme, risk coverage available will be Rs. 2 lakh for accidental 

death and permanent total disability and Rs. 1 lakh for permanent partial 

disability, for a one year period stretching from 1st June to 31st May. It is offered by 

Public Sector General Insurance Companies or any other General Insurance 

Company who are willing to offer the product on similar terms with necessary 

approvals and tie up with banks for this purpose. Participating Bank will be the 

Master policy holder on behalf of the participating subscribers. It will be the 

responsibility of the participating bank to recover the appropriate annual 

premium in one instalment, as per the option, from the account holders on or 

before the due date through ‘auto-debit’ process and transfer the amount due to 

the insurance company.

Individuals who exit the scheme at any point may re-join the scheme in future 

years by paying the annual premium, subject to conditions. Further, in order to 

assure a hassle free claim settlement experience for the claimants a simple and 

subscriber friendly administration & claim settlement process has been put in 

place.

To ensure that the benefits of this scheme is brought to every uninsured 

individual, who holds a bank account, wide publicity was given for this social

security measure through electronic media, radio, posters, newspapers 

advertisements etc. Enrollment forms were widely distributed. Highly publicised 

Enrollment camps were conducted by Banks, and Insurance Companies, 

mobilising the entire net work of SLBC Co ordinators, state and district level nodal 

officers, agents and banking correspondents, thereby fully utilising the reach of 

these channels, for attracting large scale enrolment in the scheme.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Government through the Budget Speech announced three ambitious Social 

Security Schemes pertaining to the Insurance and Pension Sectors, namely Pradhan 

MantriJeevanJyotiBimaYojana (PMJJBY), Pradhan Mantri Suraksha BimaYojana 

(PMSBY)and an the Atal Pension Yojana (APY) to move towards creating a universal 

social security system, targeted especially for the poor and the under-privileged. Hon’ble 

Prime Minister launched PMJJBY and PMSBY schemes nationally in Kolkata on 9th May, 

2015. 

2. The Pradhan MantriJeevanJyotiBimaYojana (PMJJBY) is a one year life insurance 

scheme, renewable from year to year, offering coverage for death due to any reason and 

is available to people in the age group of 18 to 50 years( life cover upto age 55) having a 

savings bank account who give their consent to join and enable auto-debit. The risk 

cover on the lives of the enrolled persons has commenced from 1st June 2015. 

3. Under PMJJBY scheme, life cover of Rs. 2 lakhs is available for a one year period 

stretching from 1st June to 31st May at a premium of Rs.330/- per annum per member and 

is renewable every year. It is offered / administered through LIC and other Indian private 

Life Insurance companies. For enrolment banks have tied up with insurance companies. 

Participating Bank is the Master policy holder. 

4. The assurance on the life of the member shall terminate on any of the following 

events and no benefit will become payable there under: 

1) On attaining age 55 years (age near birth day) subject to annual renewal up to 

that date (entry, however, will not be possible beyond the age of 50 years).

2) Closure of account with the Bank or insufficiency of balance to keep the insurance 

in force.

3) A person can join PMJJBY with one Insurance company with one bank account 

only. 

5. Individuals who exit the scheme at any point may re-join the scheme in future 

years by paying the annual premium and submitting a self-declaration of good health

Brief on Atal Pension Yojana
Atal Pension Yojana (APY) is open to all bank account holders. The Central Government 

would also co-contribute 50% of the total contribution or Rs. 1000 per annum, whichever 

is lower, to each eligible subscriber, for a period of 5 years, i.e., from Financial Year 2015-

16 to 2019-20, who join the APY before 31st December, 2015, and who are not members of 

any statutory social security scheme and who are not income tax payers. Therefore, APY 

will be focussed on all citizens in the unorganised sector.

2. Under APY, the monthly pension would be available to the subscriber, and after 

him to his spouse and after their death, the pension corpus, as accumulated at age 60 of 

the subscriber, would be returned to the nominee of the subscriber.

3. Under the APY, the subscribers would receive the fixed minimum pension of Rs. 

1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 

per month, at the age of 60 years, depending on their contributions, which itself would 

be based on the age of joining the APY. Therefore, the benefit of minimum pension would 

be guaranteed by the Government. However, if higher investment returns are received on 

the contributions of subscribers of APY, higher pension would be paid to the subscribers. 

4. 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. 

Therefore, it is better to join early in the Scheme. The contribution levels, the age of entry 

and the pension amounts are available in a table given in frequently asked questions 

(FAQs) on APY, which is available on www.jansuraksha.gov.in.

5. The minimum age of joining APY is 18 years and maximum age is 40 years. 

Therefore, minimum period of contribution by any subscriber under APY would be 20 

years or more.

The commencement date of insurance cover is the date on which the premium is debited from the insured's account to join the scheme and the insurance cover will be till May 31 of the following year. Thereafter, the insurance cover can be renewed on June 1 of each year by borrowing the premium in your Savings Bank account. These premiums are subject to change as specified from time to time by the Government of India.

If the member wishes to join the scheme after June 1, he / she can join by paying pro-rate premium on the basis of the month in which he / she is involved for the whole year and submitting the required documents / declarations, if any, as specified in the rules of the scheme. . The rules for admission shall be as prescribed by the Government of India from time to time. The whole year's premium i.e. Rs.50 / - will be payable at the time of renewal under the scheme and pro-rate payment cannot be made.

 3. ATAL PANSION YOJANA.

• Income security during old age.
• The purpose of this scheme is to invest in voluntary retirement.
• Will be focused on workers in the unorganized sector.
• Implementation will take place from 01-09-2018.
• Eligibility: Minimum age will be 18 years and maximum age limit will be 60 years.
• The administration will be done by the Pension Fund Regulatory and Development Authority (PFRDA).

The Atal Pension Scheme is like a safety net for aging Indians. At the same time the scheme promotes a culture of saving among the lower and lower middle class people of the society. The biggest feature of this scheme is that it benefits the poor citizens of the country. In this too, the Government of India is giving the facility to those who are involved in this scheme till 31st December 2018 to pay 50 per cent of the amount to be paid for 3 years or Rs. 1000 whichever is less.

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Eligibility of the beneficiary of Atal Pension Scheme

The Atal Pension Scheme (APY) is for all Indian citizens between the ages of 18 and 40. To avail the benefits of this scheme, everyone has to pay the amount fixed by the government for at least 30 years. Any bank account holder who is not a member of any such social security scheme can avail this scheme.

Pradhan Mantri Suraksha Bima Yojana is out there to people (Indian Resident or NRI) between 18 and 70 years aged with bank accounts. it's an annual premium of RS. 12 exclusive of taxes. GST is exempted on Pradhan Mantri Suraksha Bima SCHEME . the quantity is automatically debited from the account. This insurance scheme can have one year cover from 1 June to 31 May and would be offered through banks and administered through public sector general insurance companies.

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