BANKING AFFAIRS

Detailed explanation-1: -PMJJBY can be availed by the people who fall under the age group of 18 to 50 years ( life covers up to age 55) and have a savings bank account. Interested people who give their consent to join and enable auto-debit can avail of the benefits of this scheme.

Detailed explanation-2: -The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join / enable auto-debit.

Detailed explanation-3: -Your age for this scheme has been fixed from 18 years to 50 years. You must have a bank account to apply. In this plan, you have to deposit a premium of Rs. 330 every year.

Detailed explanation-4: -PMVVY is an insurance policy-cum-pension scheme that provides security to senior citizens. This pension plan is provided by Life Insurance Corporation (LIC) which caters to one’s need for post-retirement financial planning.

Detailed explanation-5: -2 lakh is payable on member’s death due to any cause. deducted from the account holder’s bank / Post office account through ‘auto debit’ facility in one instalment, as per the option given, at the time of enrolment under the scheme.