Two such schemes given by the government in which you can get the benefit of Rs 4 lakh.

Those 2 schemes are – Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana.

According to this scheme, you just have to deposit only 28 rupees every month.

Under the Pradhan Mantri Jeevan Jyoti Bima Yojana, you get life insurance and have to pay Rs 330 in a year.

After the death of the person, his family gets an amount of Rs 2 lakh.

Under the Pradhan Mantri Suraksha Bima Yojana, an insurance cover of Rs 2 lakh is available for Rs 12.

For both these schemes, you must have an account in a government bank.

This facility is provided by the bank to the Jan Dhan customers only.

Another good scheme is Atal Pension Yojana and under this the government guarantees a pension of 1000 to 5000 rupees per month.

If joining this scheme at the age of 18 years, then 210 rupees will have to be paid every month and those who are 40 years old then they will have to pay 297 to 1,454 rupees per month.