PMJJBY and PMSBY rates increased: Government insurance of Rs 12 and 330 will become expensive from tomorrow, know how much premium will be charged now

The Central Government has increased the premium of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) on Tuesday. Both these schemes are included in the major insurance schemes of the central government.

Central government increased the rate of premium
The premium rate of Pradhan Mantri Jeevan Jyoti Bima Yojana has been increased to Rs 1.25 per day. Due to which it has increased from Rs 330 to Rs 436 annually. According to the central government, the annual premium for the Pradhan Mantri Suraksha Bima Yojana has been increased from Rs 12 to Rs 20. These new premium rates will be effective from June 1, 2022. According to the statement, the increase in premium for PMJJBY is 32 percent and that for PMSBY is 67 percent.

There was no increase for the last seven years
As on March 31, 2022, 6.4 crore and 22 crore insurers have enrolled under PMJJBY and PMSBY respectively. Claims under both these schemes have been deposited in the bank accounts of the beneficiaries through Direct Benefit Transfer (DBT) route. The premium rates have not changed in the last seven years since the inception of these plans. The revised rates will also encourage other private insurance companies to come on board to implement the schemes, the statement said. This will increase the number of beneficiaries of insurance schemes.

Since the inception of PMSBY till March 31, 2022, an amount of Rs 1,134 crore has been collected as premium and claims of Rs 2,513 crore have been paid. Apart from this, an amount of Rs 9,737 crore was deposited as premium under PMJJBY and claims of Rs 14,144 crore were paid.

Prime Minister Jeevan Jyoti Yojana
PM Modi’s ambitious scheme Pradhan Mantri Jeevan Jyoti Bima Yojana was launched on 9 May 2015. Pradhan Mantri Jeevan Jyoti Yojana is a one year life insurance plan. It has to be renewed every year. On purchasing this scheme, after the death of the person, his family members are given Rs 2 lakh. Your minimum age should be 18 years and maximum 50 years to take this term plan. Any citizen of India can invest in this scheme. The maturity age of this plan is 55 years. PMJJBY provides life insurance cover of Rs 2 lakh in case of death due to any reason to people in the age group of 18-50 years having bank or post office account.

Prime Minister’s Suraksha Bima Yojana
Pradhan Mantri Suraksha Bima Yojana is also a government insurance scheme. Through this, if a person dies in an accident or becomes disabled, then his family gets an insurance cover of Rs 2 lakh. Is given. In both these plans, the premium is automatically deducted from the account of the policy buyer through the auto debit system.