BANKING AFFAIRS

Detailed explanation-1: -The risk coverage under the scheme isRs.2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability. The premium of Rs. 20 per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment.

Detailed explanation-2: -Pradhan Mantri Suraksha Bima Yojana (PMSBY) Scheme PMSBY is an accidental insurance scheme that provides one year of accidental death and disability coverage with an annual renewal. With the minimum premium rate of Rs. 12/-per annum, this policy is most beneficial to the poor and low-income section of the society.

Detailed explanation-3: -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-4: -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-5: -PMSBY is an Accident Insurance Scheme offering accidental death and disability cover for death or disability on account of an accident. It would be a one-year cover, renewable from year to year.