Life Insurance Policy: No one can tell when a crisis situation will arise in life. To deal with these situations, it is very important for you to remain financially strong. This is the reason why nowadays people are saving money from their income and buying insurance policies like health insurance, life insurance and accident insurance. Insurance policy stands as a shield for you in difficult times and also protects you from huge financial expenses.
But poor people are not able to buy an insurance policy for themselves due to lack of money. Insurance policies like health and life insurance have expensive premiums which they are unable to pay. In such a situation, the Government of India is running such a policy for the poor people of the country in which the benefit of life insurance can be availed by paying a very low annual premium.
Life insurance for just Rs 20
Here we are talking about the Pradhan Mantri Suraksha Bima Yojana (PM Suraksha Bima Yojana) which is being run for the poor and needy. In this, in case of an accident, an insurance cover of up to Rs 2 lakh is given. Any person between the age of 18 years to 70 years can invest in this. The special thing is that the annual premium for this scheme which provides a cover of Rs 2 lakh is only Rs 20. Any person can easily give this much money.
In which situations is the benefit available?
Under this scheme, on the death of the insured person, financial assistance of Rs 2 lakh is given to the family. Whereas if the insured person loses both eyes, both hands or both legs in an accident, then the victim’s family will get Rs 2 lakh as compensation. Whereas in case of not being able to use one hand or one leg or in case one eye becomes blind and cannot regain it, a compensation of up to Rs 1 lakh is given.
