What are the features of Pradhan Mantri Jeevan Jyoti Bima Yojana PMJJBY 1 One year life insura...........

Finance (Phase -I & II) Financial Inclusion

What are the features of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?

1.One-year life insurance scheme, renewable from year to year, offering coverage for death.

2.The scheme will be majorly implemented by Life Insurance Corporation of India. Other insurers can also join if willing.

3.Life cover of Rs. 3 lakhs is available at a premium of Rs.300 per annum per member and is renewable every year.

only 1 and 2

only 1 and 3

All of the above

None of the above

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Explanation:

Features :-

One-year life insurance scheme, renewable from year to year, offering coverage for death.
The cover is for a one-year period, starting June 1 to May 31.
The cover is for death only and hence benefit will accrue only to the nominee.
Life cover of Rs. 2 lakhs is available at a premium of Rs.330 per annum per member and is renewable every year.
In the case of a joint account, all holders of the said account can join the scheme provided they meet its eligibility criteria and pay the premium at the rate of Rs.330 per person per annum.
The scheme will be majorly implemented by Life Insurance Corporation of India. Other insurers can also join if willing.