Pradhan Mantri Jeevan Jyoti Bima Yojana

The petition also sought directives to ensure that the nominees or family members of all deceased policyholders since 2015 receive the compensation

Centre may increase cover from the current Rs 2 lakh to Rs 5 lakh under its flagship insurance schemes ahead of the high-stakes assembly elections in three states

The committee noted that after the implementation of the full premium payment regime in April 2020, there was 'nil' enrolment under the PMSBY and PMJJBY in 2020-21

Persons in the age group of 18-50 years having an individual bank or post office account are entitled to enrol under the scheme

In a bid to give a push to micro insurance schemes, Financial Services Secretary Vivek Joshi held a meeting with officials from 10 central ministries and departments, including those from labour and employment, housing and urban affairs, agriculture and farmers welfare, and rural development. Representatives of the Ministry of Panchayati Raj, Ministry of Mines, Ministry of Women & Child Development, Ministry of Coal, Department of Post and India Post Payments Bank (IPPB) were also present in the meeting called with a view to boost coverage under micro-insurance schemes -- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) -- at the Gram Panchayat level. A three-month campaign will cover all the districts in the country from April 1 to June 30, 2023, the finance ministry said in a statement on Wednesday. Joshi exhorted the ministries/departments concerned for the maximum coverage of Self-Help Groups (SHG) members, Anganwadi workers, ...

Currently, active enrolments under PMJJBY and PMSBY stand at 83 million and 239 million, respectively, and claims of about Rs 15,500 crore have been paid under both schemes

Currently, active enrolments under PMJJBY and PMSBY stand at 83 million and 239 million, respectively, and claims of about Rs 15,500 crore have been paid under both schemes

For Irdai Chairman Debasis Panda, LIC's fortune and reforms in health insurance sector will be the two most difficult tests to pass

PMJJBY provides life insurance cover worth Rs 2 lakh to all account holders aged 18-50 years

Premium raised first time in seven years, will make schemes viable and encourage more private insurers to join

Changes introduced by the government in the claim settlement process have led to quicker and easier settlement of claims during the pandemic, Finance Minister Nirmala Sitharaman

LIC issued a clarification saying Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) subscribers are not eligible to avail the benefits offered to policyholders in the proposed IPO

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) subscribers are also eligible to avail the quota benefits reserved for the LIC policyholders

The PMJJBY offers life insurance cover of Rs 2 lakh in case of death due to any reason to people in the age group of 18-50 years having a bank or post office account

The process of purchasing the said policy is fully digital, ensuring convenience for consumers