Umbrella Insurance Scheme for Pradhan Mantri Jan Dhan Yojana (PMJDY)Account Holders

Umbrella Insurance Scheme has been introduced by the central government. under the scheme all Pradhan Mantri Jan Dhan Yojana (PMJDY) account holders will get a free insurance cover of 2-lakh for three years. The main aim of Umbrella Insurance Scheme to increase social security net for the poor people of the country.

Earlier in 2014, the government also launched three social welfare scheme - the Atal Pension Yojana (APY), the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY). This Government Social Welfare Scheme have the main objective to provide formal financial service to poor people.

All 27 crore Pradhan Mantri Jhan Dhan Yojana card holders are applicable for Umbrella Insurance Scheme. Under this PMJDY fiscal scheme, 16 crore have been seeded with Aadhaar numbers will get the payment under this social welfare schemes.

Umbrella insurance scheme under Pradhan Mantra Jhan Dhan Yojana both accident and life insurance are being covered. The newly launched Social Welfare Scheme will going to cost more than Rs. 9000 annually to the government.

Also Check: Pradhan Mantri Garib Kalyan Yojana (PMGKY) Policy