PMJBY Full Form In English
PMJBY stands for Pradhan Mantri Jan Dhan Yojana Bima Yojana. It is a government-backed insurance scheme launched in India aimed at providing affordable life insurance coverage to the economically weaker sections of society. Under PMJBY, individuals with bank accounts can avail of a life insurance policy with a nominal annual premium. The scheme offers financial protection to the insured’s family in case of unfortunate death, ensuring social security for millions of people who might otherwise remain uninsured. PMJBY plays a crucial role in promoting financial inclusion and safeguarding vulnerable families from unexpected financial hardships.
PMJBY Full Form In Hindi
PMJBY का मतलब है प्रधान मंत्री जन धन योजना बीमा योजना। यह भारत सरकार द्वारा शुरू की गई एक बीमा योजना है जिसका उद्देश्य देश के गरीब और आर्थिक रूप से कमजोर वर्गों को किफायती जीवन बीमा सुरक्षा प्रदान करना है। इस योजना के तहत, बैंक खाता धारक न्यूनतम प्रीमियम देकर जीवन बीमा कवर प्राप्त कर सकते हैं। यदि किसी भी वजह से योजना के तहत नामांकित व्यक्ति की मृत्यु हो जाती है, तो उसके परिवार को वित्तीय सहायता मिलती है। PMJBY का मकसद वित्तीय समावेशन को बढ़ावा देना और गरीब परिवारों को अप्रत्याशित आर्थिक कठिनाइयों से बचाना है।
Read More: WRU Full Form In English And Hindi
Frequently Asked Questions
What is PMJBY?
PMJBY is a government-backed life insurance scheme providing affordable coverage to bank account holders, mainly targeting economically weaker sections.
Who is eligible for PMJBY?
Any Indian citizen between 18 and 50 years old who has a savings bank account can enroll in PMJBY.
What is the coverage amount under PMJBY?
The scheme offers a life insurance coverage of Rs. 2 lakh in case of the insured person’s death.
What is the premium for PMJBY?
The annual premium for PMJBY is very nominal, usually around Rs. 12 per year, deducted directly from the insured person’s bank account.
How to enroll in PMJBY?
Enrollment can be done through the bank where you hold your savings account by filling out a simple form and giving consent for premium deduction.
What happens if the insured person dies?
In case of the insured person’s death during the policy period, the nominee receives the insurance amount as financial support.
Is PMJBY linked to any other scheme?
PMJBY is often linked with the Pradhan Mantri Jan Dhan Yojana (PMJDY), a financial inclusion program.
Can I opt out of PMJBY?
Yes, you can opt out anytime by informing your bank.
How long is the coverage period?
The coverage period is one year and can be renewed annually by paying the premium.
Conclusion
PMJBY is a significant step by the Indian government to provide affordable life insurance coverage to millions of low-income and unbanked citizens. By linking insurance with bank accounts, the scheme ensures easy access and financial security for families in times of distress. With its minimal premium and substantial coverage, PMJBY promotes financial inclusion and acts as a safety net for vulnerable sections of society. Enrolling in PMJBY is a simple yet effective way to protect your loved ones from unforeseen financial hardships.
