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Government extends last date for PMJJBY and PMSBY enrolment further

Insurance schemes such PMJJBY and PMSBY are aimed at bringing the unorganised sector and economically weaker population under social security net.

, ET Bureau|
Updated: Jan 02, 2016, 05.24 PM IST
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KOLKATA: The government has again extended the last date for enrolment under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) to May 31.

The deadline for enrolment under Pradhan Mantri Suraksha Bima Yojana (PMSBY) has also been extended, the government said in a notice on December 28.

Insurance schemes such as PMJJBY and PMSBY are aimed at bringing the unorganised sector and economically weaker population under social security net.

About 2.93 crore PMJJBY policies and 9.28 crore PMSBY policies have been sold till December 31.

These two scheme along with Atal Pension Yojana were launched by Prime Minister Narendra Modi on May 9.

A little over 17 lakh people enrolled under the pension plan. The pension scheme is an open ended one.

PMJJBY offers Rs 2 lakh cover at Rs 330 premium every year. Bank account holders in the age 18 to 50 years are eligible to take this facility. The life risk cover will get terminated after 55 years.

PMSBY offers a renewable one year accidental death cum disability cover of Rs 2 lakh at Rs 12 premium every year. The insured will get Rs 1 lakh in case of partial permanent disability.

Multiple bank account holders are eligible to join the schemes through any one of the savings accounts.
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