The Rashtrapati Bhavan organized a camp for residents and workers of the president's estate to facilitate them to apply for the Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY) and Pradhan Mantri Suraksha Bima Yojna (PMSBY).
The camp was organized on 7th May, 2015 in association with the State Bank of India and United Bank of India.
The two schemes PMJJBY and PMSBY were launched by the Prime Minister Narendra Modi today. Both the schemes will have one year insurance cover, renewable from year to year. PMJJBY and PMSBY provide a total coverage of Rs.2.00 lakhs.
While PMJJBY will cover all the savings account holders of the age group 18-50 for death due to any cause, PMSBY will cover all the savings account holders of the age group 18 to 70 for accidental disability or death. The Premium for PMJJBY is Rs.330/- per year and for PBSBY is Rs.12/-.
