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Government to Announce Two Insurance Schemes Soon

The central government is expected to roll out two insurance schemes- Pradhan Mantri Jeevan Jyoti Bima Yojana (life insurance policy) and Pradhan Mantri Suraksha Bima Yojana (personal accident policy), this year. These two non-government subsidized schemes are aimed towards expanding the insurance market in the country. Mr. D.D.Singh, Member (distribution), IRDAI said “The two schemes are likely to be launched in May or June. Already some banks have started collecting enrolment forms.”

Under the life insurance policy, a policyholder will be covered for Rs 2 lakh on an annual premium of Rs 330. Similarly, personal accident insurance will offer Rs 2 lakh coverage for accidental death and full disability and Rs 1,00,000 for partial disability on an annual premium of Rs12. 

Source: This news was published on April 20, 2015 in business-standard.com under the title: Star Health revises insurance policy with top-ups