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

With reference to the Pradhan Mantri Suraksha Bima Yojana (PMSBY), a flagship micro-insurance initiative of the Government of India, evaluate the following statements:

1. It provides financial risk coverage of ₹2,00,000 in the event of accidental death or total permanent disability, and ₹1,00,000 for partial permanent disability.
2. The entry age criteria for eligible savings bank account holders under the scheme is between 18 and 50 years.
3. The annual premium of ₹20 per subscriber is automatically debited from the linked bank account in a single installment every year.

Which of the statement(s) given above is/are correct?

  1. A
    Statement 1 and Statement 2 only
  2. Statement 1 and Statement 3 onlyCevap
  3. C
    Statement 2 and Statement 3 only
  4. D
    Statements 1, 2, and 3

Cevap

Only Statement 1 and Statement 3 are correct.
Statements 1 and 3 are correct. PMSBY offers accidental death and permanent total disability insurance coverage of ₹2 lakh, and permanent partial disability coverage of ₹1 lakh. The annual premium is ₹20 per subscriber, auto-debited annually. Statement 2 is incorrect because PMSBY is accessible to individuals aged 18 to 70 years, whereas the 18 to 50 years bracket applies to PMJJBY.

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1
Analyze Statement 1 regarding risk coverage amounts under PMSBY.
Statement 1 is correct. PMSBY provides ₹2,00,000 for accidental death and permanent total disability, and ₹1,00,000 for permanent partial disability.
This corresponds exactly to the mandated benefit structure for accidental casualties under the scheme.
2
Analyze Statement 2 regarding subscriber age eligibility criteria.
Statement 2 is incorrect. The subscriber entry age range for PMSBY is 18 to 70 years.
The 18 to 50 years age threshold applies to life insurance under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), not PMSBY.
3
Analyze Statement 3 regarding premium payment and auto-debit mechanism.
Statement 3 is correct. Subscriptions require an annual premium of ₹20 per member, auto-debited annually from the subscriber's bank account.
This auto-debit process maintains uninterrupted financial security for subscribers year-on-year.

Anahtar Kavram

Pradhan Mantri Suraksha Bima Yojana (PMSBY) Coverage and Eligibility Parameters
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Konular

Social Sector Initiatives, Welfare Schemes, and Social Security Architecture