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Difference Between Pradhan Mantri Suraksha Bima Yojana and Jeevan Jyoti Bima yojana
The Government recently launched three insurance schemes named Pradhan Mantri Suraksha hBima Yojana, the Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojna.
Many interested individuals are getting confused between Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima as both have insurance and are more or less similar.
Here are few differences and similarities between the two insurances which were announced in this Budget and launched by Prime Minister Narendra Modi.
Difference between Pradhan Mantri Suraksha Bima Yojana (PMSBY) Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
| Features | Pradhan Mantri Suraksha Bima Yojana (PMSBY) | Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) |
| Eligibility | 18-70 years | 18-50 years |
| Premium | Rs. 12 per annum |
Rs. 330 per annum |
| Cover ceasing age | At the age of 70 years | At the age of 55 years |
| Death Benefit | Nil | Rs.2 lakhs |
| Disability | Rs.2 lakhs | Nil |
| Purpose of Insurance | Accidental Death and Disability | Life insurance |
Similarities between Pradhan Mantri Suraksha Bima Yojana (PMSBY) Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
| Features | Pradhan Mantri Suraksha Bima Yojana (PMSBY) | Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) |
| Sum Assured (Fixed) | Rs.2 lakhs | Rs.2 lakhs |
| Maturity Benefit | Nil | Nil |
| Accidental Death Benefit | Rs.2 lakhs | Rs.2 lakhs |
| Maximum Insurance cover | Rs.2 lakhs | Rs.2 lakhs |
| Mode of Payment | Premium to be auto debited | Premium to be auto debited |
| Insurance period | 1 June to 31 May | 1 June to 31 May |
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