Lots of People are asking about the difference between the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). In this article I have tabulated the difference between both the schemes. Both the Schemes are available to the customer through their banker with auto debit of premium from their bank account annually in the month of May every year.
हिन्दी में पढें: जानिये PMSBY और PMJJBY के बीच क्या अंतर है।
These are the basis difference between the two schemes:
|S. No.||Feature and Eligibility||Pradhan Mantri Suraksha Bima Yojana (PMSBY)||Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)|
|1||Age at entry||18-70 years||18-50 years|
|3||Premium (Annual)||Rs. 12||Rs. 330|
|4||Cover ceasing age||70||55|
|6||Death Benefit (Not by accident)||Nil||200000|
|7||Death Benefit (by accident)||200000||200000|
|8||Disability of both eye, both hands, both legs or one eye and one limb||200000||Nil|
|9||Disability of one eye or one limb||100000||Nil|
|10||Maximum cover||200000 (From any one of Bank account)||200000 (From any one of Bank account)|
|11||Risk Period||1st June to 31 May every year on deduction of premium||1st June to 31 May every year on deduction of premium|
|12||Mode of Payment||Auto debit from bank account||Auto debit from bank account|
Both are very good social security schemes and provide a comprehensive cover to life assured if taken together in a cost of Rs. 342 annually. Readers are advised to take both the schemes together. You Just have to walk into your bank and fill the one page form each for PMSBY and PMJJBY. You can also download the forms from the link provided below in your own language.