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Tuesday 22 September 2015

Differences and Similarities Between PMSBY & PMJJBY






The two social security schemes – Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) which were launched recently under Jan Suraksha Yojana has been overwhelming. The number of accounts opened under both these schemes has been over 5 crore. Although both these schemes are different yet simple to understand, there are few differences and similarities as displayed in the table below:
So as you can see with low premium comes low claim amount. But still everyone should buy these policies especially poor people who cannot afford high premiums asked by other insurance companies in the market. In case of your absence, your family member will can benefit from this money, although small.
In India, above 70% people do not have any insurance policy. Considering the situation, these two schemes were launched
Courtesy : http://www.allonmoney.com/

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