Insurance Tips: Under Pradhan Mantri Jeevan Jyoti Bima Yojana, the government gives insurance up to Rs 2 lakh, know how to apply…

The Government of India is running many schemes to provide economic benefits to all sections of society. One of these schemes is Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). This scheme was started in the year 2015. This is a kind of life insurance.

About PMJJBY

Pradhan Mantri Jeevan Jyoti Bima Yojana is a term insurance plan. Its benefit is given to the family of the policyholder after death.

This means that if the policyholder dies due to illness, accident, or any other reason, his family gets Rs 2 lakh. However, if nothing happens to the investor till the completion of the scheme tenure then he is not given the benefit.

Any person between 18 to 50 years old can avail of the benefit of this scheme. After applying for this scheme, if the investor wishes, he can also use Auto-Debit.

In this scheme, the government provides insurance at a low amount. In this, any citizen can take insurance up to Rs 2 lakh by investing only Rs 436 annually.

Before the year 2022, only Rs 330 had to be paid to buy the policy, later the government increased it to Rs 436. The premium given in this policy is valid from June 1 to May 31 next year.

How to apply

If you also want to avail the benefit of this scheme, then you can apply by going to any bank or LIC office. Apart from this, you can also apply for this scheme online.