Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Highlights of the Pradhan Mantri Suraksha Bima Yojana (PMSBY – Scheme 1 – for Accidental Death Insurance) are:
The cover is subject to exclusions of the policy.
Exclusions:
Major Exclusions: Intentional self injury, suicide or attempted suicide whilst under the influence of intoxication liqour or drugs, Any loss arising from an act made in breach of law with or without criminal intent.” For more details, please refer the Master Policy wordings.
- Eligibility: ICICI Bank Savings Bank (SB) 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 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 May 31, 2016. For the saving A/c holder joining after May 31, 2015 the cover shall end on May 31, 2016.
- Premium: Rs. 12 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.
| Table of Benefits* | Sum Insured | |
|---|---|---|
| I. | Death | Rs. 2 Lakh |
| II. | Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of one hand or one foot | Rs. 2 Lakh |
| III. | Total and irrecoverable loss of sight of one eye or loss of use of one hand or one foot | Rs. 1 Lakh |
| *The total amount that can be claimed under the policy is INR 2 lakh only | ||
The cover is subject to exclusions of the policy.
Exclusions:
Major Exclusions: Intentional self injury, suicide or attempted suicide whilst under the influence of intoxication liqour or drugs, Any loss arising from an act made in breach of law with or without criminal intent.” For more details, please refer the Master Policy wordings.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
Highlights of the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY – Scheme 2 – for Life Insurance) are:
- Eligibility: ICICI Bank Savings Bank (SB) 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 May 31, 2016.
- Premium: Rs. 330 (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 Lakh on death of the Insured member for any reason is payable to the Nominee.
- Account holder attains age of 55 years
- Closure of account with the Bank or insufficiency of balance for debiting premium.
- In case of multiple coverage under the scheme, the cover will be restricted to Rs.2 lakhs and other insurance covers are terminated and premium shall be forfeited.
Atal Pension Yojna (APY)
Overview
The Government of India has announced a new scheme
called Atal Pension Yojana (APY). APY is a guaranteed pension scheme and
is administered by the Pension Fund Regulatory and Development
Authority (PFRDA).
ICICI and SBI Bank is registered with PFRDA to provide APY related services.
ICICI and SBI Bank is registered with PFRDA to provide APY related services.
Features
- Guaranteed monthly pension for subscribers, ranging from Rs. 1,000 to Rs. 5,000 per month.
- Government of India (GoI) will also co-contribute 50% of the subscriber’s contribution or Rs. 1,000 per annum, whichever is lower. The Government co-contribution is available for those who are not covered by any Statutory Social Security Schemes and is not an Income Tax payer
- GoI will co-contribute to each eligible subscriber, for a period of 5 years who joins the scheme in the period June 1 to December 31, 2015. The benefit of five years of Government co-contribution under APY would not exceed 5 years for all subscribers including migrated Swavalamban beneficiaries.
| Age of Entry | Years of Contribution | Monthly pension of Rs. 1000. | Monthly pension of Rs. 2000. | Monthly pension of Rs. 3000. | Monthly pension of Rs. 4000. | Monthly pension of Rs. 5000. |
|---|---|---|---|---|---|---|
| 18 | 42 | 42 | 84 | 126 | 168 | 210 |
| 19 | 41 | 46 | 92 | 138 | 183 | 228 |
| 20 | 40 | 50 | 100 | 150 | 198 | 248 |
| 21 | 39 | 54 | 108 | 162 | 215 | 269 |
| 22 | 38 | 59 | 117 | 177 | 234 | 292 |
| 23 | 37 | 64 | 127 | 192 | 254 | 318 |
| 24 | 36 | 70 | 139 | 208 | 277 | 346 |
| 25 | 35 | 76 | 151 | 226 | 301 | 376 |
| 26 | 34 | 82 | 164 | 246 | 327 | 409 |
| 27 | 33 | 90 | 178 | 268 | 356 | 446 |
| 28 | 32 | 97 | 194 | 292 | 388 | 485 |
| 29 | 31 | 106 | 212 | 318 | 423 | 529 |
| 30 | 30 | 116 | 231 | 347 | 462 | 577 |
| 31 | 29 | 126 | 252 | 379 | 504 | 630 |
| 32 | 28 | 138 | 276 | 414 | 551 | 689 |
| 33 | 27 | 151 | 302 | 453 | 602 | 752 |
| 34 | 26 | 165 | 330 | 495 | 659 | 824 |
| 35 | 25 | 181 | 362 | 543 | 722 | 902 |
| 36 | 24 | 198 | 396 | 594 | 792 | 990 |
| 37 | 23 | 218 | 436 | 654 | 870 | 1,087 |
| 38 | 22 | 240 | 480 | 720 | 957 | 1,196 |
| 39 | 21 | 264 | 528 | 792 | 1,054 | 1,318 |
How to apply:
Login to SBI internet banking and under My Accounts click on the Social Security Schemes.
