BANKING AFFAIRS

Detailed explanation-1: -The annual premium amount of Rs. 330 has to be paid in full on renewing PMJJBY. Lien PeriodThe policy does not cover new members in the first 30 days from the date of enrolment into the policy.

Detailed explanation-2: -b) For enrolment in September, October, and November – pro rata premium of Rs. 342/-is payable c) For enrolment in December, January and February – pro rata premium of Rs. 228/-is payable.

Detailed explanation-3: -A life cover of Rs. 2 lakhs is available under the PMJJBY scheme, at a premium of Rs. 330 per annum per member, and is renewable every year. If someone has a joint account, all the account holders can join the scheme, provided they meet its eligibility criteria and agree to pay the premium at the rate of Rs.

Detailed explanation-4: -Risk coverage under this scheme is for Rs. 2 Lakh in case of death of the insured, due to any reason. The premium is Rs. 436 per annum which is to be auto-debited in one installment f rom the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the scheme.

Detailed explanation-5: -Under the PMJJBY scheme, earlier life cover of Rs. 2 lakhs is available at a premium of Rs. 330 per annum per member and is renewable every year.