Good news for SBI account holders! Get bumper benefit of Rs 4 lakhs in just Rs 342

After the coronavirus pandemic, the understanding among the common people about insurance has increased. The government is also providing insurance facilities for very little money to reach every section of society. In this sequence, there are government schemes, Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), which is giving you a cover of up to Rs 4 lakh. More importantly, you will have to pay only Rs 342 for this.

The country's largest public sector bank State Bank of India (SBI) has given information about these two schemes through its Twitter handle. 

"Get the insurance that suits your need and live life worry-free," SBI tweeted.

Get the insurance that suits your need and live life worry-free.#PMSBY #PMJJBY #SBI #Insurance pic.twitter.com/n7DC4eTlOV

— State Bank of India (@TheOfficialSBI) October 2, 2021

The bank also informed that the premium will be deducted from the account holder's savings bank account through the auto-debit facility.

Notably, under the Pradhan Mantri Suraksha Bima Yojana, in case of death of the insured in an accident or completely disabled, a compensation of Rs 2 lakh is available. Under this scheme, if the insured becomes partially or permanently disabled, he/she gets a cover of Rs 1 lakh. In this, any person between the age of 18 to 70 years can take cover. The annual premium of this plan is also only Rs 12.

It is worth noting that under the Pradhan Mantri Jeevan Jyoti Bima Yojana, the nominee gets Rs 2 lakh on the death of the insured. Any person from 18 to 50 years can take the benefit of this scheme. For this scheme also, you have to pay only Rs 330 annual premium. Let us tell you that both these are term insurance policies. This insurance is for a year.

It may also be noted that this insurance cover is from 1st June to 31st May. For this, you need to have a bank account. Insurance can also be cancelled due to the closure of the bank account or insufficient balance in the account at the time of premium deduction. Therefore, take all the information before taking insurance.