Insurance insurance for all activity1

=Activity - Enabling students and their families to have insurance cover=

Every student and their families must have insurance cover for accidents as well as life. It is very beneficial to open insurance policies Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) schemes. The teacher should help ALL students to open insurance policies under these schemes. In case students cannot do this, the teacher can help one adult in the family of each student to open insurance policies, the benefits are many:

Benefits of insurance cover

 * 1) PMSBY will offer a renewable one year accidental death-cum-disability cover of Rs. 2 lakh for partial/permanent disability to all savings bank account holders in the age group of 18-70 years for a premium of Rs. 12 per annum per subscriber.
 * 2) PMJJBY, on the other hand, will offer a renewable one year life cover of Rs. 2 lakh to all savings bank account holders in the age group of 18-50 years, covering death due to any reason, for a premium of Rs. 330 per annum per subscriber.
 * 3) Atal Pension Yojana will focus on the unorganised sector and provide subscribers a fixed minimum pension of Rs. 1,000, Rs. 2,000, Rs. 3,000, Rs. 4,000 or Rs. 5,000 per month, starting at the age of 60 years, depending on the contribution option exercised on entering at an age between 18 and 40 years.

Estimated Time
Three days, one day to collect the forms, one day to fill the forms and one to submit the forms to the bank. The policies can be collected subsequently.

Materials/ Resources needed

 * 1) Any Indian citizen with a bank account can apply for these insurance schemes

Prerequisites/Instructions, if any

 * 1) Go to your bank branch where you have your account, (if student/family has no bank account, it is to be opened under Bank_transaction_bank_accounts_activity1
 * 2) Collect application forms
 * 3) All students must fill the form and submit the same with the address proof.

Multimedia resources
Video of Prime Minister announcing the schemes

Full speech of Prime Minister while launching the schemes

news articles

 * 1) Prime Minister Narendra Modi launched three social security schemes, including a Re 1 per day insurance cover
 * 2) http://insuranceblog.asia/tag/difference-between-pmjjby-and-pmsby

Process

 * 1) To open a bank account under PMJDY scheme first visit your nearest bank branch and inquire whether the bank is part of the PM Jan Dhan Yojana.
 * 2) If the bank is a part of PMJDY then ask for the Account Opening Form and fill in your details and submit it along with a color passport size photograph and your signature.
 * 3) See List of Banks and ID Proof required

What questions can you ask

 * 1) Why should you have insurance cover
 * 2) Why does Government of India want you to have insurance cover

Evaluation – (questions for assessment of the child)
see Questions above

Activity keywords
Go back to the main page Insurance