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Tuesday, July 19, 2022

Pradhan Mantri Suraksha Bima Yojana.

Pradhan Mantri Suraksha Bima Yojana.

may be a government-backed accident insurance scheme in India. it had been originally mentioned within the 2015 Budget speech by minister of finance Late Arun Jaitley in February 2015. it had been formally launched by Prime Minister Narendra Modi on 8 May in Kolkata.


Maturity / Implicit Benefit:
There is no maturity or surrender benefit under this plan.


The commencement date of insurance cover is the date on which the premium is debited from the insured's account to join the scheme and the insurance cover will be till May 31 of the following year. Thereafter, the insurance cover can be renewed on June 1 of each year by borrowing the premium in your Savings Bank account. These premiums are subject to change as specified from time to time by the Government of India.


Income security during old age.
The purpose of this scheme is to invest in voluntary retirement.
Will be focused on workers in the unorganized sector.
Implementation will take place from 01-09-2018.
Eligibility: Minimum age will be 18 years and maximum age limit will be 60 years.
The administration will be done by the Pension Fund Regulatory and Development Authority (PFRDA).

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