How Has PMJJBY Impacted Lives in Palamu?
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Synopsis
As the PMJJBY reaches its 10-year milestone, residents of Palamu, Bihar, share their heartfelt stories of transformation and empowerment. Discover how this insurance scheme has become a lifeline for many families, thanks to the initiative by Prime Minister Modi.
Key Takeaways
- PMJJBY has been a significant welfare initiative for underprivileged families.
- It offers an affordable annual premium of Rs 436.
- The scheme provides a death benefit of up to Rs 2 lakh.
- Over a decade, it has transformed lives across the country.
- Eligibility extends to individuals from 18 to 50 years.
Patna, May 9 (NationPress) As the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) marks its tenth anniversary, tales of empowerment from underprivileged families and the real-life impact of this initiative are emerging across the nation. In the Palamu district of Bihar, beneficiaries of the PMJJBY scheme express their gratitude towards Prime Minister Modi for this initiative.
This scheme has become a beacon of hope for many, and recipients have reported significant benefits, labeling it a remarkable public welfare effort.
Several beneficiaries shared their experiences with IANS, emphasizing the necessity of this scheme for everyone and encouraging more individuals to take advantage of its benefits.
Prafull Giri, a recipient of PMJJBY, recounted, "While opening my account at a local Gramin Bank, I discovered this scheme. My family has around 4 to 5 members who are reaping its benefits. I consider it one of the best initiatives by the government and extend my heartfelt thanks to Prime Minister Modi for its implementation."
Another beneficiary mentioned that all their family members have enrolled in the scheme and expressed their appreciation for the Modi administration.
Adarsh Kumar, a bank employee, informed IANS, "PMJJBY beneficiaries approach us regularly, and we outline the scheme's advantages. It requires an annual premium of merely Rs 436 and provides a death benefit of up to Rs 2 lakh. Those who are informed about this scheme are truly reaping its rewards."
Launched on May 9, 2015, the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) was designed to make affordable life insurance accessible to India’s economically disadvantaged population. Over the last ten years, it has become a crucial safety net for countless families nationwide.
The initiative aimed to confront the stark fact that only about 20% of the Indian populace had any form of insurance.
PMJJBY provides a life insurance cover of Rs 2 lakh in the event of the subscriber's death from any cause—whether natural or accidental—for an annual premium of just Rs 436. The policy is available to individuals aged between 18 and 50 years, with coverage extending until the age of 55.
Point of View
The PMJJBY stands as a testament to the Indian government's commitment to social welfare. It highlights the significant strides made in enhancing insurance coverage among the underprivileged, addressing a critical gap in financial security for families across the nation.
NationPress
21/05/2025
Frequently Asked Questions
What is PMJJBY?
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme aimed at providing affordable coverage to India's low-income population.
How much does PMJJBY cost?
The annual premium for PMJJBY is merely Rs 436, offering a life insurance cover of up to Rs 2 lakh.
Who is eligible for PMJJBY?
Individuals aged between 18 and 50 years can enroll in PMJJBY, with coverage continuing until the age of 55.
What benefits does PMJJBY provide?
In the event of the subscriber's death from any cause, PMJJBY provides a death benefit of Rs 2 lakh.
When was PMJJBY launched?
PMJJBY was launched on May 9, 2015, by Prime Minister Modi to enhance insurance coverage among the economically weaker sections of society.
