Government extends deadline for PMJJBY and PMSBY to December 31

KOLKATA: The government has extended the deadline for enrolment in the nation's two most popular social security schemes up to December 31.

Insurance schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) are aimed at bringing the unorganised sector and economically weaker population under risk cover

Enrolment in both the schemes continue, according to a government website. These two scheme along with Atal Pension Yojana was launched by Prime Minister Narendra Modi on May 9.

About 9.24 crore PMJJBY policies and 2.92 crore PMSBY policies have been sold till December 7.

PMJJBY offers Rs 2 lakh cover at Rs 330 premium every year. Bank account holders in the age 18 to 50 years are eligible to take this facility. The life risk cover will get terminated after 55 years.

PMSBY offers a renewable one year accidental death cum disability cover of Rs 2 lakh at Rs 12 premium every year. The insured will get Rs 1 lakh in case of partial permanent disability.

Multiple bank account holders are eligible to join the schemes through any one of the savings accounts.

The government has not kept any deadline for the pension scheme while offered to contribute up to Rs 1000 per annum for a period of five years, if subscribers join the scheme by the end of this calendar year.