Pradhan Mantri Yojna

Pradhan Mantri Jeevan Jyoti Bima Yojana

Highlights of the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY – for Life Insurance) are as below:

• Eligibility: All IndusInd Bank savings bank account holders between 18 years (completed) and 50 years (age nearer birthday) who have given the consent to join the scheme / enable auto-debit, as per the modality, will be enrolled into the scheme.
• Policy period: The cover shall be for one year period starting from June 1, 2015 to May 31, 2016 for which option to join / pay by auto-debit from the designated savings bank account on the prescribed forms will be required to be given by May 31, 2015, extendable up to August 31, 2015. Those joining subsequently may be able to do so with payment of full annual premium for prospective cover, with submission of a self-certificate of good health in a form acceptable to Us.
• Premium: Rs. 330/- + service tax (per annum).
• Payment Mode: The premium will be directly auto-debited by the bank from the subscribers’ savings bank account. This is the only mode available currently.
• Risk Coverage: Sum Assured of Rs. 2,00,000 on death of the Insured member for any reason is payable to the Nominee. No claim is admissible for deaths during the first 45 days from the entry date, except for cases of death due to accident.

The personal details, as required, regarding admission into the Pradhan Mantri Jeevan Jyoti Bima Yojna scheme will be shared with Life Insurance of India.., under Master Policy No. 900100024 certifying coverage as per the Scheme, subject to correctness of information provided regarding eligibility and receipt of consideration amount.

Pradhan Mantri Suraksha Bima Yojana

Highlights of the Pradhan Mantri Suraksha Bima Yojana (PMSBY – for Accidental Death Insurance) are

• Eligibility: All IndusInd Bank saving account holders between 18 years (completed) and 70 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the modality, will be enrolled into the scheme.
• Policy period: The cover shall be for one year period starting from 1st June 2015 to 31st May 2016 for which option to join / pay by auto-debit from the designated savings bank account on the prescribed forms will be required to be given by 31st May 2015 - extendable up to 31st August, 2015. For the saving A/c holder joining after 31st May 2015 and on or before 31st August 2015 the cover shall end on 31st May 2016.
• Premium: Rs. 12/- + service tax (per annum).
• Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.
• Risk Coverage: Total coverage (sum-insured) under the scheme is Rs. 2 Lakh.

*The cover is subject to exclusions of the policy.

Terms and conditions:

• Customer should not be insured under Pradhan Mantri Suraksha Bima Yojana under any other Saving Bank Account In case the same is found to exist, premium shall stand forfeited and no claims would be paid.
• The cover shall commence from the 1st of the month subsequent to the date of enrollment in the scheme.
• Customer will have to pay full annual premium even if join the Scheme after the commencement of the Group Policy.
• The membership in the scheme will remain in force as long as all premium due are paid until attaining age of 70 years as on Annual Renewal Date.
• The nominee details as available in the savings account will be updated in the policy.
• The personal details, as required, regarding admission into the Pradhan Mantri Suraksha Bima scheme will be shared with Cholamandalam MS general Insurance Company Ltd.., under Group Policy No. 2839/00000484/000/00 certifying coverage as per the Scheme, subject to correctness of information provided regarding eligibility and receipt of consideration amount.
• Any information provided by the customer if found to be untrue, the membership to the scheme shall be treated as cancelled from the date of joining the scheme and all monies paid in respect thereof shall stand forfeited.