The Pradhan Mantri Suraksha Bima Yojana scheme is a government based plan which is launched by the Honourable Finance minister of India in the year 2015-2016 whose main motto is to secure the life’s of people in such a way that it covers up accident death insurance by charging very low annual fee so it is a very beneficial program for all the Indians because if the person died suddenly then this money can become as a support to the rest of family members and this is a term plan means it valid for only 1 year and if you want to continue with this insurance scheme of Indian government then you should renew your plan year to year to seeks benefits of this scheme.
The period of this PMSBY life insurance scheme will be between 1st June 2015 to 31 May 2016 so it becomes a year and of you want to continue then again you have to renew fro next annual year. More interestingly the premium amount that you should pay for this scheme is just 12 rs only per year for which you can get insurance cover amount of 2 lakh rupees incase the candidate died due to sudden accident.
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Govt. of India Pradhan Mantri Suraksha Bima Yojana Insurance Scheme Eligibility Conditions & Other Details
- Eligibility Age: Minimum 18 years and Maximum 70 years.
- Validity: 1 year (It’s a annual plan and if you want to continue with scheme then you can get benefits by renewing year to year)
- Premium Amount: Candidate have to pay just 12 rs per year to get benefit of 2 lakh rs coverage.
- Mode of Payment: A sum of rs 12 and in case any additional service tax will be debited from the account holders bank account which he provided in the application.
- Primary KYC or Age Proof: Aadhar Card Xerox copy and number will be noted for verification.
- Tax Benefits: You will tax benefit for the amount you invested under this scheme as per section 80C but rs. 12 is a negligible amount.
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Key Features of Pradhan Mantri Suraksha Bima Yojana Government Insurance Scheme
- Accidental death insurance plan for 1 year for just Rs.12/- which can be renewable
- Get premium benefit up to 2 lakh rupees which is more than 10000 times of investment.
- Need to stand in Q for paying the Premium, just sit at home it will be deducted directly from your bank account.
- Scheme Enrollment period: 31 May 2015 happens once per year.
- You can also enroll in grace period also which is till 31 August 2015. For which you will get 3 months extra validity of plan, i.e. it is valid up to 31 Nov 2015.