Saturday, May 29, 2021

PMJJBY and PMSBY are Applicable to Covid-19 Death? - Know the Details

 PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana are very good Insurance schemes from Government of India initiation. Most of the account holders have purchased the both Insurance Policies from the Bank where they have Account. The Policy holders may Download Bonds Online for PMJJBY and PMSBY Click Here to Download Bonds Online The Premium amount for PMJJBY is Rs.330/- per year and for PMSBY is Rs.12/- per year. The premium amount for the both schemes are deducted by the banks in the month of May every year. As we are corona Pandemic situation, The Policy holders have a doubt about the coverage of the Policies, PMJJBY and PMSBY are applicable to Covid Death? Will the Banks Pay the Insurance amount to the nominee if death occur due to Covid-19. Here is the detailed explanation.

Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) are schemes that have been introduced to provide low cost insurance cover to the people across the country. 

PMSBY Coverage Details

Prime Minister's Security Insurance Scheme (PMSBY): The premium for this policy is only Rs.12/-  The policy can be availed by 18-70 year olds who have a savings account in a recognized bank. 2 lakh if ​​the policy holder dies in an accident and Rs. 1 lakh in case of permanent disability. This Policy is not applicable to Covid death. 

Click Here to Know more about the PMSBY scheme ( For Application form, Bond Download and Claim Form )

PMJJBY coverage Details

Pradhan Mantri Jeevan Jyothi Bima Yojana (PMJJBY): The premium for this policy is Rs.330/- per year. Individuals under 18-50 years of age who have a savings account in a Nationalized bank are eligible. Not for the sake of income. No matter how many accounts a person has, the policy is the same. It starts on June 1 of each year. If you are new to this scheme , The insurance is applicable only after 45 days of registration. If the policy holder who has taken this policy dies for any reason, he will get an insurance compensation of Rs. 2 lakhs. This applies to murdered and suicide. Therefore, this insurance policy pays a compensation of Rs. 2 lakhs to those who dies due to Covid-19. If unfortunately someone dies .. their nominees should contact the policy bank branch within 30 days and file for the claim. The bank will send the claim form to the relevant insurance company within 30 days of the submission of the claim. Insurance companies are rapidly resolving the claims of those who have died due to Covid-19

Click Here to know more about the PMJJBY Scheme ( For Application form, Bond Download and Claim Form )

Click Here to Download PMJJBY and PMSBY Bonds Online