BANKING AFFAIRS

Detailed explanation-1: -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. Aadhar would be the primary KYC for the bank account.

Detailed explanation-2: -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.

Detailed explanation-3: -Individuals between 18 years and 70 years are eligible to apply for this scheme. A government-sponsored accident insurance program, the Pradhan Mantri Suraksha Bima Yojana, provides coverage for accidental death, total and partial disability, as well as permanent disability.

Detailed explanation-4: -Benefits of Pradhan Mantri Jeevan Jyoti Bima Yojana Through this scheme people in the age group of 18 to 50 years can take advantage of the policy. Under this plan, you have to make an annual installation by 31st May per the annual coverage period.

Detailed explanation-5: -The coverage amount offered by the Pradhan Mantri Jeevan Jyoti Bima Yojana is Rs. 2 lakh. The coverage is offered to the beneficiary of the scheme in case of uncertain death of the policyholder during the tenure of the policy. The life insurance coverage as death benefit offered to the nominee is tax-free.