GK
GOVT SCHEMES POLICIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is true about PMSBY?
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The closure of SB account with the Bank or insufficiency of balance in SB account will result in theterminationof insurance coverage.
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In case of multiple saving bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one savings bank account only.
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The premium will be deducted from the account holder’s savings bank account through ‘auto debit’ facility in one installment on or before 1 st June of each annual coverage period under the scheme.
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All of the above
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Explanation:
Detailed explanation-1: -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-2: -The scheme is a one year cover Personal Accident Insurance Scheme, renewable from year to year, offering protection against death or disability due to accident.
Detailed explanation-3: -Page 1. FAQs on PRADHAN MANTRI SURAKSHA BIMA YOJANA (PMSBY) Q1. What is the nature of the scheme? The scheme is a one year cover Personal Accident Insurance Scheme, renewable from year to year, offering protection against death or disability due to accident.
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