Co-operative banks have kept pace with the Prime Minister Narendra Modi’s dream project of insuring the masses. The massive insurance schemes have been launched by the LIC in collaboration with banks.
In this regard LIC inked a deal with Jammu Central Cooperative Bank for providing life insurance coverage to savings bank account holders of the bank under the Pradhan Mantri Jeevan Jyoti Bima Yojana, reports a news outlet.
The scheme was announced by the government in the Budget 2015-16. Sharan Chaudhary GM and staff members of the JCC Bank Ltd were present on the occasion.
The scheme will have a life coverage of Rs 2,00,000 for those aged between 18 to 50 years in case of death due to accident or natural to accounts holders of the Bank with very low premium of Rs 330.