LIC signs pact with JCC Bank for insurance Coverage PMJJBY

JAMMU: The LIC today inked a deal with Jammu Central Cooperative Bank for providing life insurance coverage to savings bank account holders of the bank under the Pradhan Mantri Jeevan Jyoti Bima Yojana.

The Life Insurance Corporation of India (LIC) today signed an MoU with Jammu Central Cooperative Bank (JCB) at Corporate HQRS Sehkari Bhawan for providing life insurance coverage to account holders of the bank under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), LIC officials said.

The scheme was announced by the government in the Budget 2015-16, they said.

The deal was signed by T S Bali, Senior Divisional Manager, Chaitanya Sharma and D S Slathia from LIC of India; Sikander Gupta GM CEO, Om Parkash Sharma AGM from the JCC Bank.

Sharan Chaudhary GM and staff members of the JCC Bank Ltd were also present on the occasion.

The scheme will have a life coverage of Rs 2,00,000 for those aged between 18 to 50 years in case of death due to accident or natural to accounts holders of the Bank with very low premium of Rs 330.