Insurance policy launched by PM Modi offers ₹2 lakh cover at less than Re 1/day
PMJJBY is available for the people in the age group of 18 to 50 years
A yearly premium of ₹330 needs to be paid to avail the benefits under PMJJBY scheme
Launched by Narendra Modi government, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a one-year term life insurance policy. This scheme offers a coverage of ₹2 lakh with a yearly premium of ₹330. Term insurance coverage is a type of insurance policy which provides huge financial protection to the nominee if the policyholder dies during the policy term. Pradhan Mantri Jeevan Jyoti Bima Yojana is offering a life cover ₹2 lakh for a yearly premium of ₹330 per member. This is a pure term insurance policy which covers death.