New Government Schemes for Young Professionals


BENGALURU: Generally people in our country need Schemes which can make their lives lot more stress free.. We are all Indians, we all do think alike, don’t we? With the new government coming in things have  changed, this also include new financial schemes launched by the government. Government has recently announced few Schemes  that provide security only to the weaker sections of the society. Let’s see what all these Schemes are as listed by Yahoo!Finance :-

 Pradhan Mantri Suraksha Bima Yojana (PMSBY):

This Scheme basically provides a personal accident policy, that will not only provide protection to your family in an event of an accidental death, but will also protect you against loss of income which may be due to any disability incurred in an accident. Anyone who is aged between 18 to 70 years will be eligible for this policy. People can also buy this policy if they have bank account, regardless of any bank.

The policy will pay a claim of 2 lakh, only if a person dies in an accident or suffers from a permanent disability due to that accident. This policy is only valid till one year which is from June 1st 2015 to May 31st 2016 and after that period is done, you will have to pay a premium price.

 Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY):

This policy is a pure term plan that will not pay you anything back when the policy matures. Only if the insured person dies, then only it will pay the Total Sum to the family of the insured. Here also the conditions are the same except the age limit is from 18 to 50. According to this policy, the family members of the insured will get 2 lakh as claimes money and this policy too is one valid till one year and after that a premium price has to be paid for the continuation of policy.

 Atal Pension Yojana (APY):

Perhaps this Scheme is the most useful of all because it guarentees your pension even after you are retired. Under this Scheme, you will be able to receive a fixed pension of 1,000 to 5,000 per month at the age of 60 years, which depends on your contribution. The government has provided a plan sheet for aged based pension plan where a 35 year old needs to pay 902 every month to get a pension of 5,000 after his retirement.  

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