Launch Year : 2015.
It is a scheme under the Ministry of Finance.
It is an accidental death scheme.
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 18-70 having a savings bank account with auto-debit feature.
Premium: - Rs 12 per annum per person.
Risk Coverage: -
- Accidental death : 2 lakh
- Permanent total disability : 2 lakh
- Partial disability : 1 lakh
Key Features : -
- Offered by public sector General Insurance Company as well as other General Insurance Company.
- Participating bank will be the master policy holder on behalf of the participating subscriber.
- Auto-debit till 31st May
- The insured can walk out of the scheme at any time and rejoin it in future
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