Insurance Schemes launched by Modi government-Get benefited today
Modi government in its one-year tenure has launched several insurance schemes for the benefit of general people. Here is a brief overview of the Insurance Schemes launched by Modi government.
Insurance Schemes launched by Modi government-Atal Pension Yojna
This is an ideal investment option for those who do not have anyone for their old age although everyone from 18 to 40 is eligible. Beneficiaries will get the pension from 1000 to 5000 rupees depending on the contribution amount. The monthly contribution amount is 42 rupees for 18 years old and 291 rupees for 40 years old person up to attaining the age of 60 for 1000 rupees monthly pension.
Pradhan Mantri Suraksha Bima Yojna
This is one of the best Insurance Schemes launched by Modi government. An ideal investment option for those who are the most victim of accidental death or disability like drivers, security personals, newspaper &vegetable vendors. Everyone having a savings bank account is eligible. A very small premium of just 12 rupees per annum is to be paid for 2 lakh rupees cover for accidental death and permanent disability.
Pradhan Mantri Jeevan Jyoti Bima Yojna
A must for the only earning member in the family. Everyone between 18 and 70 years and having a bank account is eligible. For an annual premium of 330 rupees, 2 lakh rupees will be paid to the dependents on the death of policy holder.
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Pradhan Mantri Jan Dhan Yojna
Suitable for the workers of unorganized sector, anyone from the economically weaker section is eligible. It offers a zero balance saving account with Rupay ATM- cum – Debit Card with an insurance cover of 1 lakh rupees for accidental death and 30,000 rupees for life insurance. Initiated with keeping the focus on providing banking needs to all, this is the most sparkling diamond in the Insurance Schemes launched by Modi government.
Post Office Time Deposits and Bank Fixed Deposits
Ideal for saving needs, anyone having a bank account or Aadhar is eligible. Post office time deposits give 8.5% yield while Bank fixed deposits give about 9.25% if done on behalf of senior citizen parents.
Kisan Vikas Patra
An ideal investment option for everyone to fulfill medium term requirements. The scheme has an interest yield of 8.7% and doubles the investment in 100 months. The minimum limit for deposit is 1000 rupees.
Sukanya Samriddhi Scheme
The best investment for parents for their daughters below 10. Any amount between 1000 rupees to 1.5 lakh rupees can be invested per year on behalf of daughter’s education and marriage expenses. This scheme provides 9.2% interest.
Although this is not a scheme offered by government, quasi-governmental agencies like New India Assurance and Oriental Insurance offers policies for hospitalization covers up to 50,000 rupees for individuals of 18-40 years on a premium of about 800 rupees per year. Ideal for emergency illness needs where hospitalization can eat up all savings.
We must take benefits of these Insurance Schemes launched by Modi government and tell others about this scheme so that government mandate for a Better India can be fulfilled.
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