Examkin

Soru

Zorluk: OrtaSocial Sector Initiatives, Welfare Schemes, and Social Security Architecture

Consider the following statements regarding the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY):

1. It provides a renewable one-year term life insurance cover of ₹2 lakh₹2\text{ lakh} for death due to any reason to individuals in the age group of 18 to 50 years.
2. The scheme provides risk coverage exclusively for accidental death and permanent total disability.
3. It is administered through the Life Insurance Corporation (LIC) and other participating life insurance companies in tie-up with banks.

Which of the statements given above is/are correct?

  1. A
    1 and 2 only
  2. B
    2 and 3 only
  3. 1 and 3 onlyCevap
  4. D
    1, 2 and 3

Cevap

Statements 1 and 3 are correct, while statement 2 is incorrect.
Statements 1 and 3 are correct. Under PMJJBY, individuals aged 18 to 50 years with a bank account are eligible for a renewable one-year term life cover of ₹2 lakh₹2\text{ lakh} for death due to any reason. The scheme is implemented by the Life Insurance Corporation of India (LIC) and other life insurers in partnership with participating banks. Statement 2 is incorrect because PMJJBY covers death from any cause, whereas accidental death and permanent disability are covered under Pradhan Mantri Suraksha Bima Yojana (PMSBY).

Adım Adım Çözüm

1
Evaluate Statement 1 regarding eligibility age and benefit amount.
PMJJBY is available to people in the age group of 18 to 50 years having a bank account. It offers a renewable term life cover of ₹2 lakh₹2\text{ lakh} in case of death due to any reason. Thus, statement 1 is correct.
PMJJBY guidelines specify an entry age band of 18-50 years with annual renewal up to age 55.
2
Evaluate Statement 2 regarding the nature of risk coverage.
PMJJBY provides life insurance coverage for death due to ANY reason. Accidental death and disability coverage is provided under a separate scheme, the Pradhan Mantri Suraksha Bima Yojana (PMSBY). Thus, statement 2 is incorrect.
Confusing PMJJBY (life insurance covering all causes of death) with PMSBY (accidental death and disability insurance) is a common misconception.
3
Evaluate Statement 3 regarding the administration and implementing agency.
PMJJBY is offered/administered through LIC and other willing life insurance companies that tie up with participating banks to auto-debit premiums. Thus, statement 3 is correct.
Institutional framework requires insurance providers to partner with financial institutions for enrolment and direct premium processing.

Anahtar Kavram

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) features, target age group, and differentiation from PMSBY
Bu soruyu puanla

Konular

Social Sector Initiatives, Welfare Schemes, and Social Security Architecture