IPPB launches PM Jeevan Jyoti Bima Yojana

India Post Payments Bank (IPPB) has launched a low-cost insurance coverage scheme ‘Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)’ for its clients to carry giant sections of the underserved and unserved inhabitants into the monetary mainstream. IPPB has collaborated with PNB MetLife India Insurance Company for this product.

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Features of PMJJBY:

  • To present safety and monetary safety to the poor and underprivileged, particularly in unbanked and distant areas of India, within the unexpected and unlucky occasion of the lack of a member of the family who’s primarily the breadwinner.
  • Anyone who has a financial savings account with IPPB.
  • Minimum age 18 years and a most age 50 years.
  • The most protection of Rs 2,00,000 per life no matter a number of accounts/a number of certificates of insurance coverage held underneath the PMJJBY scheme.
  • Premium Rs 330 to be paid yearly.
  • Completion of 55 years (Age close to Birthday).

Important takeaways for all aggressive exams: 

  • Managing Director & CEO of IPPB: J Venkatramu.
  • India Post Payments Bank (IPPB) Headquarters: New Delhi.
  • Prime Minister Narendra Modi had launched IPPB in 2018.

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