Jan Dan Yojana with RuPay Card a Prime Minister of India's Savings and Insurance Provision Scheme

The main aim of Prime Minister's Jan Dhan Yojana scheme is to encourage the common people to obtain Bank Account.  It is got amazing response from the people.  Approximately 8.76 crores of people obtained Bank Accounts under this scheme whole India wide.  The main reason of huge response from the public is RuPay Card, Accidental Insurance for Rs. 1 lakh and Life Insurance for Rs. 30,000/- with this Jan Dhan Yojana Account.  We have to see the rules and guidelines to obtain the insurance facility under this scheme without any difficulties.

National Payment Corporation of India (NPCI) is providing RuPay Card on the guidelines of Reserve Bank of India as to implement our own Electronic Card like Master Card, Visa Card in Electronic, ATM payments.  This card can be used to draw the money from ATM and electronic payments.  Our country is the forth country, who made our own card to draw the money and electronic payments like America, Japan and Chaina.  One lakh accidental insurance will be provided to the users of this card.

Rules and Regulations of PM's Jan Dhan Yojana Scheme:

Risk Coverage:

• The candidates who are int eh age group of 18 to 70 years are eligible for this accidental insurance
•  No need to pay premium to the Bank authorities and Account Holder for this insurance.
•  This accidental insurance will be provided between the period from 1st April, 2014 to 31st March, 2015.
• The total accidental insurance will be paid even when the person met accident with permanent disability like loss of two legs or two hands fractured.  Rs. 50,000/- will be paid when the person lost one leg or one eye.  Rs. 2,000/- will be paid on limited disability like loss of one fingure.
• The total insurance amount will be paid only when the person uses the card before 45 days of he met accident.  The insurance will not applicable when the person is not using the Card.
• The insurance not applicable when the person participated in drug, alcoholic, criminal actions, adventures like byke racings, bungy jumps, etc.  The insurance will not be paid when the person deliberately injured.  There insurance applicable only on permanent disability or the death by accidental is not clarified.
• The accidental insurance is only Rs. 1 lakh only even the person having to many RuPay cards.  The person who having platinum card of RuPay will be provided Rs. 2 lakhs of insurance.
• To claim the insurance, the relatives of the candidate have to provide relevant documents in concerned bank within 30 days.  The insurance is applicable even the person living in other countries.  The insurance will be paid even the person having other policies.

Having of Jan Dhan Yojana Account:

• This insurance applicable to person, who have opened first account in bank under Prime Minister Jan Dhan Yojana scheme during the period from 15th August, 2014 to 26th January, 2015 only.
• The candidates who are between the age limit of 18 to 60 years are only the eligible.
• This insurance applicable to one person in the entire family only.  The second person will eligible when the elder family member's age crossed 59 years.
• The candidates provided, who issued RuPay card and implemented the transactions only.
• This insurance provided by Life Insurance of India Ltd.  The premium for this concern will be paid by Government of India.
• The insurance will be paid on accidental and normal death of the candidate.  This insurance facility will applicable up to the financial year of 2019-20 i.e. five years of period.
• This policy is aimed to the poor people of rural and urban.  This insurance will not be applicable to the person, who working in Central, State Government and Quasi Government industries, Retired Employees.  The insurance not available to the person, who paid income tax, which deducted from the source.
• The scheme not provided to the persons who claiming under Am Aadmi Bheema Yojana scheme.

The RuPay cards issued only 5.78 crores out of 8.76 crores of accounts under Jan Dan Yojana scheme.  The Government instructed to Bankers to issue cards to another remaining account holders under this scheme.  If the candidates wants to have insurance alive in this scheme, at least one time transaction per month is needed.

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