Question

As of July 2022, under which of the Social Security Insurance schemes is insurance provided with a premium of 220 per annum that is to be deducted from the account holder's bank account through auto-debit facility in one instalment?

• A. Pradhan Mantri Vaya Vandana Yojana (PMVVY)
• B. Pradhan Mantri Suraksha Bima Yojana (PMSBY)
• C. Varishtha Pension Bima Yojana
• D. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Answer 1

Answer:

B. Pradhan Mantri Suraksha Bima Yojana (PMSBY)

• The Pradhan Mantri Suraksha Bima Yojana (PMSBY) provides insurance with a premium of ₹20 per annum, deducted through auto-debit from the account holder's bank account.

• Every year the Policy is renewed in the Month of May wherein balance in the account has to be maintained for Auto Renewal of policy for the next Policy Year.

• Premium: ₹ 20/- (per annum).

• Risk Coverage: Total coverage (sum-insured) under the scheme is ₹ 2 Lakh.