Multiple Choice Questions on Which of the following statement is correct regarding Pradhan Mantri Suraksha Bima Yojana PMSBY........... for General Knowledge ( All Exams) Preparation

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Which of the following statement is correct regarding Pradhan Mantri Suraksha Bima Yojana (PMSBY)?

Available to people in age group 18 to 60 years with bank account.

Premium of this scheme is Rs 12 per annum.

Under this scheme there is a provision of accidental death and full disability cover of Rs 5 Lakh

The scheme is offered by LIC only

About Pradhan Mantri Suraksha Bima Yojana (PMSBY):

Eligibility: Any person having a bank account and Aadhaar number linked to the bank account can give a simple form to the bank every year before 1st of June in order to join the scheme.
Name of nominee to be given in the form. Available to people in age group 18 to 70 years with bank account.This scheme was launched on 8th May , 2015. Premium: Rs 12 per annum.
Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.
Risk Coverage: For accidental death and full disability – Rs 2 Lakh and for partial disability – Rs 1 Lakh.Terms of Risk Coverage: A person has to opt for the scheme every year. He can also prefer to give a long-term option of continuing in which case his account will be auto-debited every year by the bank.
Implementing agency: The scheme will be offered by all Public Sector General Insurance Companies and all other insurers who are willing to join the scheme and tie-up with banks for this purpose.
The premium paid will be tax-free under section 80C and also the proceeds amount will get tax-exemption u/s 10(10D).But if the proceeds from insurance policy exceed Rs.1 lakh , TDS at the rate of 2% from the total proceeds if no Form 15G or Form 15H is submitted to the insurer.