Bookmark Bookmark

IPPB LAUNCHES PM JEEVAN JYOTI BIMA YOJANA

IPPB LAUNCHES PM JEEVAN JYOTI BIMA YOJANA

Context

India Post Payments Bank (IPPB) has joined hands with PNB MetLife India Insurance Company Limited to launch Pradhan Mantri Jeevan Jyoti Bima Yojana.

Details

  • It seeks to bring large sections of the underserved and unserved population into the financial mainstream.
  • It will provide protection and financial security to the poor and underprivileged, especially in unbanked and remote areas of India, in the unforeseen and unfortunate event of the loss of a family member.
  • The scheme will be optional for all the savings account holders with India Post Payments Bank.
  • Customer should be at least 18 years old to enrol for the scheme. The maximum age limit will be 50 years for Pradhan Mantri Jeevan Jyoti Bima Yojana.
  • Benefits:: Fixed sum of ₹2 lakh upon the death of the insured member payable to the nominee. No maturity benefit or surrender benefit is payable under the scheme.
  • The premium will be deducted from the customer's savings account annually.

You might be interested:

PRESIDENT’S POWERS TO PARDON

PRESIDENT’S POWERS TO PARDON Context Recently, President of the United States of America (USA) has exercised his powers under the constitution to pardon his former National Security Advisor. Ho ...

5 months ago

CONSERVATION EXCELLENCE AWARD FOR 2020

CONSERVATION EXCELLENCE AWARD FOR 2020 Context The Pilibhit Tiger Reserve (PTR - Uttar Pradesh) received international award TX2 for doubling the number of tigers in the past four years. Details Tr ...

5 months ago

NATIONAL PORTAL FOR TRANSGENDER PERSONS

NATIONAL PORTAL FOR TRANSGENDER PERSONS Context The government launched a portal through which transgender persons can apply for gender identity certificates online. Details It will allow transgend ...

5 months ago

DRDO FLAGS OFF FIRST ‘VARUNASTRA’ HEAVYWEIGHT TORPEDO

DRDO FLAGS OFF FIRST ‘VARUNASTRA’ HEAVYWEIGHT TORPEDO Context The Defence Research and Development (DRDO) Chairman G Satheesh Reddy has flagged off the first Production unit of Heavy Weig ...

5 months ago

One Liners of the Day, 27 November 2020

Economy SEBI’s Initiative aimed at enhancing investor education and awareness - Securities Market Trainers (SMARTs) program. International According to the paper, titled 'Future of Regional C ...

5 months ago

Daily News Digest:26 November 2020

CONSTITUTION DAY 2020: HISTORY, SIGNIFICANCE OF SAMVIDHAN DIVASIndia celebrating Constitution Day or Samvidhan Diwas on November 26. It is celebrated in India on November 26 every year. On this day, i ...

5 months ago

Provide your feedback on this article: