If suddenly 436 rupees have been deducted from your bank account, don’t panic, try to find out the reason.
First Published Mar 2, 2023, 11:27 PM IST
Today almost everyone has a bank account. Everyone from the monthly wage earner to the farmer has a bank account. People in rural areas also have bank accounts as a bank account is now mandatory to be a beneficiary of government schemes. Sometimes we get a message on our mobile that money is being deducted from the bank account. But it is not understood why the money was cut. Recently from your bank account Rs. Noticed 436 getting cut, but don’t know why the amount got cut? Here is the answer to that. This amount will be deducted for the annual premium of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). If you have an account with SBI, Post Office or any other bank, avail this insurance plan and auto debit facility is enabled to pay its premium, the amount will be deducted from your account for paying the annual premium.
Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is an insurance scheme of the Central Government. Under this scheme you can get Rs. 436 will be paid only. If you pay this small amount of premium, you will get an insurance coverage of Rs.2 lakhs. Those between 18 to 50 years can be the beneficiaries of this scheme. It is mandatory to renew this scheme every year. This plan is valid from June to May. So by May 31, 436 Rs. This plan has to be renewed by paying the premium.
Pradhan Mantri Suraksha Bima Yojana
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is also a central government insurance scheme. The scheme provides financial assistance to the beneficiary’s family in case of accidental death or disability. Those between 18 to 70 years can join this scheme. Rs.2 lakh in case of accidental death and Rs.1 lakh in case of partial disability. Through this scheme, the government provides financial assistance to the family of the person. Premium should be paid by 31st May annually for this project.
Auto Debit Facility
If you subscribe to Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), you don’t need to pay premium for these two plans individually. Instead, the premium amount will be automatically debited from your bank account. The premium for both these plans should be paid by May 31. If so, follow the necessary steps to avoid debiting your account. Pradhan Mantri Jeevan Jyoti Bima Yojana policy will be canceled if payment is not made on time.
Last Updated Mar 2, 2023, 11:27 PM IST