INDIAN GOVERNMENT SCHEMES
Invest The Change covers the following government insurance schemes that are available to all Indian citizens, to help them with financial inclusion and ensure economic empowerment.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
Covers: The scheme is a one-year cover term life insurance scheme, renewable from year to year, offering life insurance cover for death due to any cause.
Premium: Premium payable is Rs.436/- per annum per subscriber.
Mode of Payment: The premium is deducted from the account holder’s bank / Post office account through an ‘auto debit’ facility in one instalment, as per the consent of the subscriber.
Eligibility: All individual (single or joint) account holders of participating banks / Post offices, in the age group of 18 to 50 years are entitled to join.
May 09, 2015
Pradhan Mantri Suraksha Bima Yojana(PMSBY)
Covers: 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 (accident means a sudden, unforeseen and involuntary event caused by external,violent and visible means).
Premium: Premium payable is Rs.20/- per annum per member.
Mode of Payment: The premium will be deducted from the account holder’s bank / Post office account through ‘auto debit’ facility in one instalment, as per the consent given by the subscriber at the time of enrolment.
Eligibility: All individual (single or joint) account holders of participating banks / Post office, in the age group of 18 to 70 years are entitled to join.
May 09, 2015
Atal Pension Yojana
Benefit: Atal Pension Yojana (APY), a pension scheme for citizens of India, is focused on unorganised sector workers. Under the APY, a guaranteed minimum pension of Rs.1,000/- or 2,000/- or 3,000/- or 4,000 or 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers.
Eligibility: The age of the subscriber should be between 18-40 years and he/she should have a savings bank account.
Mode of Contribution: All the contributions are to be remitted monthly through an auto-debit facility from the savings bank account of the subscriber.
May 09, 2015
Pradhan Mantri Jan Arogya Yojana (PM-JAY)
Ayushman Bharat PM-JAY is the largest health assurance scheme in the world which aims at providing a health cover of Rs. 5 lakhs per family per year for secondary and tertiary care hospitalization to over 10.74 crores of poor and vulnerable families (approximately 50 crore beneficiaries) that form the bottom 40% of the Indian population. The households included is based on the deprivation and occupational criteria of the Socio-Economic Caste Census 2011 (SECC 2011) for rural and urban areas respectively. PM-JAY was earlier known as the National Health Protection Scheme (NHPS) before being rechristened.
It subsumed the then-existing Rashtriya Swasthya Bima Yojana (RSBY) which had been launched in 2008. The coverage mentioned under PM-JAY, therefore, also includes families that were covered in RSBY but are not present in the SECC 2011 database. PM-JAY is fully funded by the Government and the cost of implementation is shared between the Central and State Governments.
Sep 23, 2019