Which of the following statement is are correct about Pradhan Mantri Jeevan Jyoti Bima Yojana PMJJBY...........

Finance (Phase -I & II) Financial Inclusion

Which of the following statement is/are correct about Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?

1.The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join / enable auto-debit.

2. Aadhar is the primary KYC for the bank account.

only 1

only 2

Both 1 and 2

Neither 1 nor 2

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Explanation:

Beneficiaries :- People in the age group of 18 to 50 years ( life cover up to age 55) having a savings bank account who give their consent to join and enable auto-debit.

Aadhar is the primary KYC for the bank account.
The life cover of Rs. 2 lakh is for the one year period stretching from 1st June to 31st May and is renewable.