by Many savings account holders are report in that, Rs 330 has been debited from their bank account. From others account, same amount deduction may happen anytime in the month of May. This only happens for those who have enrolled in the the government of India’s insurance scheme named Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). The insurance scheme’s renewal date is on June 1 and the banks deduct the renewal charges anytime in this month to ensure the scheme benefits are available to the individual. If there there has been more than one deduction, then report the bank and so that charges will be reversed.
This is a one-year life insurance scheme, which offering coverage for death due to any reason.the insurance is available to people whose age exist between 18 & 50 years ( life cover up to age 55) and having a savings bank account who give their consent to join and enable auto-debit. A life cover of Rs. 2 lakh is available at a premium of Rs.330 per annum per individual.
About the deduction for the renewal of insurance will be informed to the holders by sending a reminder SMS or email . The amount will automatically get debited from the savings account, so that make sure that there is a sufficient balance in your bank account.
