Launch Year : 2015.
It is a scheme under the Ministry of Finance and this scheme is offered by LIC.
Aim: - To enhance the level of insurance penetration .
Beneficiaries: - Common people especially poor and under privileged sections of the society.
Eligibility : - Person belong to the age group of 18-50 having a savings bank account with auto-debit feature.
Premium: - Rs 330 per annum per person.
Risk Coverage: - Death cover of Rs 2 lakh for any reason
Key Features : -
- The policy provides life coverage for 1 year and the insured can renew the policy every year till the age of 55
- The cover period under this Scheme is 1 st June of each year to 31 st May of subsequent year
- Risk cover is applicable only after the first 45 days of enrolment
- The insured can walk out of the scheme at any time and rejoin it in future
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