New Delhi, July 25 -- Whether you have a life insurance policy or not, you may consider taking Prime Minister's Jeevan Jyoti Bima Yojana (PMJJBY) that provides life insurance cover to all subscribers below the age of 50.

This scheme provides one-year term life insurance cover of Rs.2 lakh to all the subscribers in the age group of 18 to 50 years. The policy covers death caused due to any reason whatsoever.

Premium payable in this insurance is Rs.436 per annum per subscriber, which is auto debited from the subscriber's bank and post office account.

To be eligible to apply for this life insurance, applicants must be aged between 18 to 50 years. The applicant must hold an individual bank / post office account.

If the individual holds mul...