What is the age group of the people benefitted under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) (As of July 2022)?

Correct option is A

Correct answer is (a) 18 to 50 years

The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme launched by the Government of India in 2015, aimed at providing affordable life insurance coverage to the masses, particularly those from low-income backgrounds. As of July 2022, the scheme covers individuals in the age group of 18 to 50 years.

Information Booster:

1.     PMJJBY is a government-backed scheme designed to provide life insurance to those who might not otherwise be able to afford it.

2.     The age limit 18 to 50 years ensures a broader reach to the working-age population while maintaining a balance with financial viability.

3.     The scheme is available to individuals with a savings bank account, and the coverage is provided on an annual renewable basis.

4.     The ₹330 premium is quite low and can be easily paid by most individuals in the eligible age group.

5.     People from rural areas and low-income groups benefit the most from this scheme as it is designed to be affordable and accessible.