Insurance for Jan Dhan a/c holders: FM1 min read . Updated: 29 Aug 2020, 08:15 AM IST
The schemes on offer are the PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana
NEW DELHI : Holders of Jan Dhan accounts will be offered government-backed life and accident insurance, the finance ministry said on Friday, signalling an expansion of social security for the poor.
The schemes on offer are the PM Jeevan Jyoti Bima Yojana (PMJJBY) and PM Suraksha Bima Yojana (PMSBY). Both are available to those who hold bank accounts under the Jan Dhan Yojana.
PMJJBY life insurance is available to people in the age group of 18 to 50 years. The risk coverage under this scheme is for ₹2 lakh, at a premium of ₹330 per annum.
PMBSY, which is the accident insurance, is available to 18-70-year olds. The risk coverage under the scheme is ₹2 lakh at a premium of ₹12 per annum for accidental death or full disability and ₹1 lakh for partial disability.
The announcement came with the completion of six years of the National Democratic Alliance government’s scheme Jan Dhan Yojana that aims to provide universal banking. It has played an important role in making direct benefit transfers to the poor during the pandemic. The government also plans to improve the access of Jan Dhan Yojana account holders to micro-credit and micro-investments such as flexi-recurring deposit, an official statement said. There are also plans to promote digital payments with RuPay debit cards.