Affordable Life Insurance: NRIs can also avail this government insurance scheme, with an annual premium of only Rs. 436

Life Insurance: Pradhan Mantri Jeevan Bima Yojana is a government scheme to enhance financial security while promoting economic empowerment in India. This plan provides life insurance protection to people at affordable premiums. The benefits of which can be availed by local people as well as non-resident Indians (NRIs). They can take this life insurance subject to the terms and conditions of the plan. On which the claims will be settled in Indian Rupees.

what is the rule

Indians living abroad can avail the benefits of Prime Minister Jeevan Jyoti Insurance Scheme. For which it is necessary for them to have a bank account in any bank of the country. Then they can avail the benefits of this government scheme subject to certain terms and conditions. To avail the benefits of this scheme, NRIs will have to go to any bank or post office in the country. After this, the amount will continue to be deducted from the bank account through auto debit every year.

About the scheme:

This plan is a one-year life insurance plan, which is renewed every year. Which provides life insurance coverage on death due to any cause. People between 18 to 50 years of age can start this scheme by going to post office or bank. In which the premium is deposited in one installment every year through auto debit facility from the account holder’s account as per the consent of the insured.

insurance cover

All policyholders of PMJJBY will get Rs. 1 year life cover. Life insurance coverage of Rs 2 lakh. In which every year the customer pays Rs. Premium of Rs 436 will have to be paid. Anyone can avail the benefits of this scheme as the premium is very cheap. This scheme was launched on 9 May 2015.