Consider the following statements regarding the Pradhan Mantri Jeevan Jyoti Bima Yojana 1 It is appl...........

Social Security Pension and Insurance

Consider the following statements regarding the Pradhan Mantri Jeevan Jyoti Bima Yojana:

1. It is applicable to all adults above the age group of 18 years.

2. The premium is deducted from the account holder's bank account through 'auto debit facility'.

3. The life insurance worth is decided by the account holder and he has to pay the annual premium accordingly.

4. The life insurance amount is given to the family after the death of the subscriber.

Which of the above statements are correct?

This questions was previously asked in

EPFO APFC (2015)

1 and 3 only

1 and 4 only

2 and 4 only

2 and 3 only

- Pradhan Mantri Jeevan Jyoti Bima Yojana is applicable to adults in the age group of 18 to 50 years. So, statement 1 is incorrect.

- The premium is indeed deducted via an 'auto debit facility' from the account holder's bank account.

- The life insurance worth is not decided by the account holder; it's a fixed amount of INR 2 lakh. Hence, statement 3 is incorrect.

- The life insurance amount is given to the family after the subscriber's death.

Correct Answer: Option 3: 2 and 4 only.

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