The scheme works through an annual premium of Rs.12 auto-debited from the linked bank account of the individual. This auto-debit shall be made on or before 1st June of each annual coverage period under the scheme.
However, in cases where auto-debit takes place after 1st June, the cover shall commence from the first day of the month following the auto-debit.
The premium shall be reviewed based on the annual claims experience. Except in the case of any unforeseen adverse circumstances, the premium shall not be increased for the first three years.