Question
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJB
- Y is a government-backed life insurance scheme. Evaluate the following statements: I. PMJJBY provides a life cover of Rs. 2 lakh for death due to any cause, at an annual premium of Rs. 436 per annum. II. The scheme is available to individuals aged 18 to 55 years who hold a savings bank account and give their consent for auto-debit. III. A person who exits the scheme and wishes to re-enroll after a break can do so only by submitting a declaration of good health and paying full arrears of premium. IV. The premium under PMJJBY is deducted from the subscriber's account on June 1 each year, and the cover period runs from June 1 to May 31 of the following year. Which of the above statements are correct?
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