IMPHAL, September 22: Prime Minister Narendra Modi under his social security schemes has launched two new insurance schemes namely Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) for the benefit of the general public. These schemes have also been started in the Imphal Head Post Office recently.
However as of now no one has turned up to avail the benefit of these two government schemes, said Director of Postal Service Manipur Binod Kumar while speaking to media persons at a press meet held at his office in Imphal today.
The Director while appealing to the general public to avail the benefits of these schemes further informed that PMSBY is a one year cover personal accident insurance scheme, renewable from year to year offering protection against death or disability due to accident.
The premium fee is only Rs 12 per annum per subscriber and the benefits are Rs 2 lakh on death, Rs 2 lakh on total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight on one eye and loss of use of hand or foot.
Also, Rs 1 lakh benefit on total and irrecoverable loss of sight of one eyes or loss of use of one hand or foot.
The premium will be deducted from the account holder`™s savings bank account through `Auto Debit`™ facility in one installment as per the option to be given on enrolment. Members may also give one-time mandate for auto debit every year till the schemes is in force.
All saving bank account holders in the age 18 to 70 years are eligible to apply for PMSBY scheme.
Likewise, the Pradahan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is also one year term life insurance scheme, renewable from year to year offering protection against death or disability due to any reason.
The premium amount is Rs 330 per annum per subscriber and the benefit is Rs 2 lakh on death of the subscriber due to any reason.
The premium will be deducted from the account handler`™s savings bank account through `Auto Debit`™ facility in one instalment as per the option to be given on enrolment.
Members may also give one-time mandate for auto debit every year till the scheme is in force.
All savings bank account holders in the age 18 to 50 years are eligible to apply for this scheme. AADHAAR would be the primary KYC for the savings account.
The enrolment period for both the schemes is from June 1 to May 31 for which option to join/pay by auto-debit from the designated post offices savings account on the prescribed forms is to be given by May 31 of every year extendable up to August 31, 2015 in the initial year.
Initially on launch, the period for joining may be extended by Government of India for another three months i.e. upto November 30, 2015.
Termination of the accident cover assurance will be on attaining age 70 years for PMSBY and 55 years for PMJJBY.
Closure of account or insufficiency of balance to keep the insurance in force and in case a member is covered through more than one account and premium is received by the insurance company inadvertently may also lead to termination of the accident cover assurance for both the schemes.