Insurance Scheme in India: To Help People in Need

Insurance Scheme in India: To Help People in Need

There are several Insurance scheme in India to help people in their need. Today let’s talk about these schemes and the facilities provided by these Insurance scheme in India.

Who can avail the insurance scheme in India

Who can avail the insurance scheme in India?

Insurance scheme in India such as Pradhan Mantri Jeevan Jyoti Bima Yojana (OMJJBY) are available to people between ages 18-50 who has bank account. He or she has to be a citizen of India. Must have both pan card and aadhar card.

Premium details

In case of insurance scheme in India one will have to pay a certain amount of money at a time or twice in year or monthly or yearly. Most importantly this scheme is GST exempted. To get this facility you will have to apply first. Once you avail the insurance then the bank will debit the amount automatically. On insured persons death the nominee will get the due amount.

There are many more schemes available in India. These are:

  • Ayushman Bharat health scheme:  PM Narendra Modi has announced this scheme on Independence Day this year. This scheme has launched on 23rd September, 2018. This is one of the world’s largest government funded health care schemes. This insurance scheme in India aims to cover around 50 crore people. It has decided to give INR 5 lakh per family per annum.
  • Pradhan Mantri Suraksha Bima Yojana: It is an Indian Government issued accident insurance scheme in India. It was initially mentioned in the 2015 Budget by Finance Minister Arun Jaitley. It was officially launched by Prime Minister Narendra Modi.
  • Atal Pension Yojana: It is a pension program that allows people to make deliberate assistances within a convinced range in order to get matching government charities.
  • Social Security Scheme: This scheme is generally to provide Pension, Insurance for disabled persons and Maternity Coverage for Workers.
  • National Pension Scheme: it is a government contribution based on the pension system.
  • National Social Assistance Scheme: It is a public support to the citizens in case of joblessness, old age, illness and disablement and in other cases of unwarranted aspects.
  • Pooled Finance Development Fund Scheme: It is a Pooled Finance Development Fund (PFDF), which enables the Urban Local Bodies (ULBs) to raise assets from the market on a supportable basis to meet people’s needs.
  • Pradhan Mantri Jan Dhan Yojana: It is an accidental insurance scheme in India with a premium of INR 12 per year.
  • Rashtriya Swasthya Bima Yojana: It is a health insurance to domestic workers, poor, Rikshaw-pullers, MGNERGA workers, Building and other construction workers, and many other categories which are identified by the individual states.

These insurances don’t pay for suicide or attempt to suicide, intentional self-injury, Excessive amount of intoxication liquor or drugs intake etc. For more details, please refer the Master Policy wordings.

Keep yourself updated with these insurance scheme in India to avail maximum profit.

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