Correct option is A
The correct answer is: (A) Life insurance scheme.
Explanation:
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme launched by the Government of India. It offers a renewable one-year life insurance coverage to individuals in the age group of 18 to 50 years, providing a death cover of Rs. 2 lakh in case of natural death or accidental death.
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme launched by the Government of India. It offers a renewable one-year life insurance coverage to individuals in the age group of 18 to 50 years, providing a death cover of Rs. 2 lakh in case of natural death or accidental death.
The scheme is offered at an affordable premium, and it aims to make life insurance available to the common man, particularly in rural and semi-urban areas.
- PMJJBY is a government-backed scheme to ensure financial security for individuals in case of unforeseen circumstances.
Information Booster:
- The scheme charges a nominal premium of Rs. 330 per annum for the life cover.
- The scheme provides coverage for natural death, accidental death, and disability due to accidents.
Additional Knowledge:
- AD&D (Accidental Death and Disability) scheme: is a separate scheme that specifically covers accidental deaths and disabilities.
- Pension schemes: are long-term investment plans that provide regular income after retirement and are different from life insurance plans like PMJJBY.
- Loan schemes: provide financial assistance for various purposes like education, home, or business.
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