Pradhan Mantri Jan Dhan Yojana: Want Rs 30000 insurance cover fulfilled by LIC? Find Check eligibility

Pradhan Mantri Jan Dhan Yojana: Under the Pradhan Mantri Jan Dhan Yojana (PMJDY), a beneficiary's nominee can claim Rs 30000 in the event of the death of the beneficiary. The claim will be fulfilled by the Life Insurance Corporation of India (LIC).

PMJDY is a Central Government scheme that provides life cover of Rs 30000 to the persons who have opened a Basic Savings Bank Deposit Account (BSBDA) for the first time between 15.8.2014 and 26.1.2015 with RuPay card, according to the LIC website. For more information visit link - https://licindia.in/getattachment/Products/Pradhan-Mantri-Jan-Dhan-Yojan....

Who can get the Life Insurance under the Scheme and is there any age criteria to avail the benefits of the scheme?

-- Person opening Bank account for the first time, with RuPay card during the period from 15.08.14 to 26.01.15, or any additional period as may be extended further by Government of India

-- The person should normally be head of the family or an earning member of the family and should be in the age group of 18 to 59
 
-- In case the head of the family is 60 years or more of age, the second earning person of the family in the above-mentioned age group will be covered, subject to eligibility

-- The person must have a RuPay card and his Biometric Card should be linked to the bank account

--  The account can be any bank account including a small account

-- For the coverage to be effective the above RuPay Card should be valid and in force

-- Only one person in the family will be covered in the Bima Scheme and in case of the person having multiple cards/accounts the benefit will be allowed only under one card i.e. or person per family will get a single cover of Rs 30000/- subject to the eligibility conditions

-- The life cover of Rs 30000- under the scheme will be initially for a period of 5 years, i.e. till the close of the financial year 2019-20. Thereafter, the scheme will be reviewed and term and condition of its continuation, including the issue of future payment of premium by the insured thereafter, would be suitably determined

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Only the accounts opened under BSBDA will be eligible for any claims and other normal saving bank accounts or other accounts opened during the campaign period will not be entertained.