Insurance of Rs 4 lakh is available for Rs 342

There are two schemes of Narendra Modi government with which you'll get insurance up to Rs 4 lakh. Interestingly, you simply need to pay Rs 342 a year. 
In fact, in his first term, the Narendra Modi government launched two schemes, Pradhan Mantri Jeevan Jyoti Vima and Pradhan Mantri Suraksha Vima.

Premium of Rs. 342 once a year
The premium for both these schemes is sort of cheap. The annual premium is Rs 330 for Jeevan Jyoti Vima and Rs 12 for Pradhan Mantri Suraksha Vima Yojana. This premium are going to be replaced by a complete cover of up to Rs 4 lakh.

Who can cash in of this scheme of Modi government
The Pradhan Mantri Jeevan Jyoti Vima scheme is hospitable people between the ages of 18 and 50. At an equivalent time, people up to the age of 70 are covered under the Prime Minister's Security Insurance. allow us to say that these are both insurance policies. However this insurance is for one year only. The scheme has got to be renewed by May 31 per annum . Read Gujarati Report.

Even if the insurance is purchased on any date within the year, it's valid till May 31. If you join the scheme after May 31, the scheme is valid till an equivalent date of next year. you would like to possess a checking account to hitch the scheme. Insurance can also be canceled thanks to insufficient balance within the account at the time of closing of the checking account or deduction of premium.

What was the aim
In 2015, the central government launched the Pradhan Mantri Jeevan Jyoti Vima and Pradhan Mantri Suraksha Vima Scheme to supply insurance cover to the poor. this is often the rationale why the premium is kept very low. However now this scheme is out there for each class. most the private and government banks within the country offer customers the chance to hitch the scheme. If you're using NetBanking, you'll avail this scheme reception . you'll even be a neighborhood of the scheme by visiting the closest branch of the bank.

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