PMJJBY, APY and PMSBY
Pradhan Mantri Jeevan Jyoti Bima Yojana
It is a low premium insurance scheme which will link with the
Pradhan Mantri Jhan Dhan Yojna.
Key points of the scheme:
(i) Age limit – 18 yrs – 50 yrs
(ii) Premium payable for this scheme is Rs.330 per year i.e. less
than Rs.1 per day.
Atal Pension Yojana (APY)
It is a scheme mainly for workers in unorganized sector. The scheme
will be administered by the Pension Fund Regulatory and Development Authority
(PFRDA) and replace the previous government’s Swavalamban Yojana NPS Lite.
Key points of the scheme:
(i) Minimum & Maximum pension –The subscribers who will
joined the scheme would receive the fixed pension of Rs. 1000 per month, Rs. 2000
per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the
age of 60 years, depending on their contributions.
(ii) Age limit: 18 yrs – 40 yrs.
(iii) A subscriber can contribute for minimum period
of 20 years or more and pension payment will start at the age of 60 years.
(iv) The government of India has decided to
co-contribute 50% of the subscriber’s contribution or Rs. 1000 per annum,
whichever is lower, to each eligible subscriber account, for a period of 5
years, i.e., from 2015-16 to 2019-20, who join the NPS before 31st December,
2015 and who are not income tax payers.
Pradhan Mantri Suraksha Bima Yojana
It is an insurance scheme which covers death or disablement of
the policyholder caused due to accident or accidental injuries.
Key points of the scheme:
(i) Age limit: 18 yrs – 70 years.
(ii) The scheme will be a one year cover, renewable from year
to year and would be administered through the Public Sector General Insurance
Companies in collaboration with Banks.
(iii) Risk coverage: The Pradhan Mantri
Suraksha Bima Yojana will offer an accidental death and full disability cover
of Rs. 2
Lakh and for partial
disability cover of Rs. 1 Lakh.
(iv) Premium: Rs.12 per annum. The premium will be
directly auto-debited by the bank from the subscribers’ account.
