Cheapest Insurance in India @ Rs. 330 & Rs. 12 Premium
Currently if you are planning to buy insurance policy then you will have to shell out high premiums from your pocket. Because of high premium poor people cannot afford to purchase policy. This results in financial turmoil of their family in case of any unfortunate event to the breadwinner of the family. Looking at the painful condition of poor, government of India has launched cheapest insurance in India – Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana under the universal social security scheme. These two low cost policies are set to become a game changer in the Indian insurance market due to very low premium as even poor individuals will be able to afford the same giving a decent money to their families in their absence. And the government’s objective of insurance penetration in the remotest places of India will become possible.
Here are the details of these two cheapest insurance policies in India:
Jeevan Jyoti Bima Yojana
It is a life insurance policy.
- Coverage: Rs. 2 Lakh would be given to the nominee in an unfortunate death of the policy holder.
- Annual premium: Rs. 330 only
- Eligibility: Any individual within an age group of 18-50 years can avail this low cost insurance policy.
- Payment mode: Auto debited from the bank account. Read details of PMJJBY
Suraksha Bima Yojana:
It is an accidental insurance policy.
- Annual premium: Rs. 12 only
- Coverage: Rs. 2 Lakh would be given to in case of accidental death and full disability. Whereas in case of partial disability, Rs. 1 Lakh cover would be provided.
- What is covered: PMSBY will cover accidental death/disability/accidental injury to the policy holder resulting because of an accident.
- Eligibility: Any individual within the age group 18 to 70 years and having Aadhaar number linked to the bank account can avail this cheapest insurance policy.
- Payment mode: Annual premium will be auto-debited from the policy holder’s account. Read features of PMSBY
After the super successful Pradhan Mantri Jan Dhan Yojana which was listed in Guinness book of world record as over 125 million bank accounts were opened, these two cheapest insurance policies are set to create another benchmark as they would be made available to every Indian citizen irrespective of the income.
Interested individuals can buy these policies starting from June 01, 2015.
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Balu
How to change the scheme in between from one account to another account ?? is it possible??
mintu shaikh
sir my brother’s wife have Rs12/- policy holder her death is snake bite .pse send claim procedure
manoj solanki
my brother had a 330 Rs.policy. he ‘s death 26/1/16 .how can claim and process?
Shiv Dewangan
Can i purchase both the policy two time? If yes, then in case of death, the benifit will get the family will be twice of insurance amount?
Mahantesh Inchal
For purchase of these policy’s any specific income band people are eligible or all. If i have already LIC and other private company insurance, can I purchase these two policy’s ?
AllOnMoney.Com
Dear Mahantesh, you can purchase these two policies even if you have already taken insurance from some other company. Thank you.
P. Kamal Kumar
I want to apply it on online, so how to do it.
P. Kamal Kumar
I am unable to register this policy, can you reply to my question if it is possible.
AllOnMoney.Com
Dear Kamal Kumar, you cannot apply online.
bishal shaw
sir, this offer how to apply online plz tell me sir urgent
AllOnMoney.Com
Dear Bishal, you need to visit bank where you hold savings bank account. And it takes just 10 minutes. There is no online facility.