Buying an insurance policy is easier than you thought. You can just go to your bank and buy a policy from an insurer who has tied up with that bank. Banks these days offer life insurance, health insurance and accident insurance.
Health insurance
A family floater insurance policy is a must-have in this era of unexpected illnesses. Such a policy will cover the husband, wife and children.
Life insurance
People aged between 30 and 50 can avail of the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) to seek affordable insurance cover up to the age of 55. If you have a savings-bank account, you can get the application form from the bank. The annual premium is a paltry Rs 330 irrespective of age. You can even entrust the bank to transfer the amount every ear. The insurance cover is for Rs 2 lakh.
Accident insurance
Anyone aged between 18 and 70, provided they have a savings account, can be a member of the Pradhan Mantri Suraksha Bima Yojana (PMSBY) for an annual premium of just Rs 12. You can just give a letter of consent to the bank to pay the amount every year. The policy of Rs 2 lakh covers death or injuries to limbs or eyes.
