Jan Dhan Yojana Insurance Cover, Benefits, T&C
PMJDY Insurance Benefits
Launched on 28August, 2014 with an objective of financial inclusion by providing bank account to every household in India, the Prime Minister Jan Dhan Yojana has been a super success. More on the benefits of PMJDY
There are many incentives under PMJDY which includes:
- Accident insurance cover of Rs. 1,00,000 with no premium
- Life insurance cover of Rs. 30,000 carrying a premium of Rs. 90 every year. This cover would be offered by LIC starting from 26January, 2015.
Terms and Conditions
- Individual should operate RuPay card once in 45 days of opening the account in order to be eligible for insurance coverage
- Individuals aged between 18-60 years are only eligible to avail the insurance benefits
- Only one person per household (either the earning member / head of the family) can get life insurance benefit
- If an individual is getting benefit of any other government sponsored scheme then he/she won’t be eligible for life insurance benefits. Check out PMJDY life cover eligibility and claim process.
- Life insurance would be provided only to individuals who have opened account between August 15, 2014 to January 26, 2015
Benefits to individuals who already have bank account
Recently government released statement that such individuals who do not have bank account under PMJDY can get RuPay card from their bank and then get accident insurance. They don’t need to open account Jan Dhan Yojana. Get detailed information on this here. This news will bring in great relief to every Indian. See how to get RuPay debit card. Read more on advantages of RuPay card.