Suraksha Bandhan scheme is a special enrollment drive launched by Government in a Mission Mode through participating banks and insurance companies to facilitate enrollment under social security schemes Pradhan Mantri Suraksha Bima Yojana, PMSBY, and Pradhan Mantri Jeevan Jyoti Bima Yojana, PMJJBY.
- The last date for enrolment under the Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana schemes has been extended till 30th of September 2015.
- This special enrolment drive is being launched in the backdrop of the forthcoming festival of Raksha Bandhan.
• “Suraksha Bandhan” drives aims to take forward the Government’s objective of creating a universal social security system in the country, targeted especially at the poor and the under-privileged.
• The envisaged social security initiative also includes the Atal Pension Yojana (APY), launched along with the above two insurance schemes, which addresses the issue of old age income security by facilitating regular contributions during the working life of the subscriber for a guaranteed pension at the age of 60.
• This drive will be supported through the Jeevan Suraksha Gift Cheques, which will be available for purchase for Rs.351 in Bank branches by persons wishing to gift them to facilitate one year payment of premium for PMJJBY and PMSBY by the recipient.
• In addition, Banks will make available a facility to account holders under the Suraksha Deposit Scheme and the Jeevan Suraksha Deposit Scheme aimed at enabling them to deposit Rs.201 or Rs.5001, respectively in their accounts either on their own initiative by cash, regular cheque etc.
• Persons enrolling within given period would not be required to submit a certificate of good health for PMJJBY. PMSBY
• Pradhan Mantri Suraksha Bima Yojana (PMSBY) for accident and disability cover of up to Rs.2 Lakh at an annual premium of Rs.12
• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) for a term life cover of Rs.2 Lakh at an annual premium of Rs.330.