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Social Security Insurance Schemes

SOCIAL SECURITY INSURANCE SCHEMES

As per the announcement in the Union Budget FY 2015-16, the Ministry of Finance, Government of India has launched three social security schemes.

The schemes are as below –

The said schemes have been launched as a social security to help citizens prepare for an eventuality / old age. These schemes have been introduced at very low premiums.

The government has taken an approach to offer these schemes only to bank account holders. The scheme premium is to be collected from the customer through a debit to the bank account. These schemes are available to all citizens who meet the eligibility criteria.

All banks are required to offer these schemes to its customers by entering into tie-ups with insurance providers (Life & General).

We at Indusind Bank have tied-up with-

  • Life Insurance Corporation of India (LIC) for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
  • Cholamandalam MS General Insurance for Pradhan Mantri Suraksha Bima Yojana (PMSBY)
  • Pension Fund Regulatory and Development Authority (PFRDA) for Atal Pension Yojana (APY)
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