Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojna

• Eligibility: Available to people in age group 18 to 70 years with bank account.
• 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:  For accidental death and full disability – Rs 2 Lakh and for partial disability – Rs 1 Lakh.
• Eligibility: Any person having a bank account and Aadhaar number linked to the bank account can give a simple form to the bank every year before 1^st of June in order to join the scheme.  Name of nominee to be given in the form.
• Terms of Risk Coverage: A person has to opt for the scheme every year. He can also prefer to give a long-term option of continuing in which case his account will be auto-debited every year by the bank.
• Who will implement this Scheme?: The scheme will be offered by all Public Sector General Insurance Companies and all other insurers who are willing to join the scheme and tie-up with banks for this purpose.
• The premium paid will be tax-free under section 80C and also the proceeds amount will get tax-exemption u/s 10(10D).But if the proceeds from insurance policy exceed Rs.1 lakh , TDS at the rate of 2% from the total proceeds if no Form 15G or Form 15H is submitted to the insurer

Download Application form in English  Pradhan Mantri Suraksha Bima Yojana (PMSBY)

Download Application form in Hindi  Pradhan Mantri Suraksha Bima Yojana (PMSBY)

The scheme will be launched on June 1 2015 and focus is on the unorganised sector.  A pension provides people with a monthly income when they are no longer earning. A Subscriber receives pension based on accumulated contribution out of his current income.Under the  Atal Pension Yojna Scheme (APY), the subscribers ,under the age of 40, would receive the fixed monthly pension of  Rs. 1000 to Rs 5000 at the age of 60 years, depending on their contributions.

To make the the pension scheme more attractive,  government would co-contribute 50 per cent of a subscriber’s contribution or Rs 1,000 per annum, whichever is lower to each eligible subscriber account for a period of of 5 years from 2015-16 to 2019-20. The benefit of government’s co-contribution can be availed by those who subscribe to the scheme before December 31, 2015.  

Official Details of Atal Pension Yojna,including form, are now available at http://financialservices.gov.in/APY.asp . 

Eligibility for APY:  Atal Pension Yojana (APY) is open to all bank account holders who are not members of any statutory social security scheme.Age of joining and contribution period:   The minimum age of joining APY is 18 years and maximum age is 40 years. One needs to contribute till one attains 60 years of age.Enrolment agencies:   All Points of Presence (Service Providers) and Aggregators under Swavalamban Scheme would enrol subscribers through setup  of National Pension System.  The Table of contribution levels, fixed monthly pension to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period is given below.

• if person joined Atal Pension Yojna at 35 years, he will contribute till age of 60 years ie 25 years.
  • If he wants monthly pension of Rs 1000 he would contribute Rs 181 a month. On his death his wife would get Rs 1000 per month and after her death the nominees will get 1.7 lakh.
  • If he wants monthly pension of Rs 3000 he would contribute Rs 543 a month. On his death his wife would get Rs 3000 per month and after her death the nominees will get 5.1 lakh.
• If he joins at the age of 18 years to get a fixed monthly pension of Rs. 1,000 per month, the subscriber has to contribute on monthly basis Rs. 42 for Rs 5000 pension he has to contribute Rs. 210.
• if he joins at the age of 40 years to get a fixed monthly pension of Rs. 1,000 per month, the subscriber has to contribute on monthly basis Rs. 291 and for Rs 5000 pension he has to contribute Rs. 1,454.

Also see Income Tax Form for Assessment Year 2015-2016

Download Application form in English Atal Pension Yojna (APY)

Download Application form in Hindi Atal Pension Yojna (APY)