What does the acronym ‘PMSBY’ mean?

a. Pradhan Mantri Suraksha Bima Yojana

b. Pradhan Mantri Surakshit Bharat Yojana

c. Pradhan Mantri Sushil Bharat Yojana

d. Pradhan Mantri Sukanya Bima Yojana

ANSWER: Pradhan Mantri Suraksha Bima Yojana

Explanation:

Pradhan Mantri Suraksha Bima Yojana

Policy Coverage - The scheme offers to provide you or your family a cover of up to Rs. 2 lacs in case of any mishap, resulting into death or disability of the insured.

In case of death or full disability, you or your family will get Rs. 2 lacs and in case of partial disability, you will get Rs. 1 lac.

Eligibility : Savings bank account holders aged between 18 years and 70 years are eligible to apply for this scheme

Cost : Rs. 12 per year for having an accidental death or disability cover of Rs. 2 lacs under this scheme.

Period : You will remain insured for a period of one year from June 1, 2015 to May 31, 2016.

Next year onwards as well, the risk cover period will remain to be June 1 to May 31.