Pradhan Mantri Jeevan Jyoti Bima Yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana – The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a comprehensive insurance initiative designed to provide invaluable life insurance coverage against any cause of death. This scheme is accessible to individuals between the ages of 18 and 50, provided they possess a bank account and grant their consent for automatic premium deductions through the auto-debit feature.

Pradhan Mantri Jeevan Jyoti Bima Yojana

Under the PMJJBY umbrella, the maximum age limit for policyholders is 50 years. To facilitate the bank account’s verification process, Aadhar has been designated as the primary document for KYC purposes. The life insurance coverage offered by this scheme is set at a substantial Rs. 2 lakhs and spans a duration of one year, commencing on June 1st and concluding on May 31st. What’s noteworthy is that this coverage is renewable, ensuring ongoing protection for the policyholders and their families.

Pradhan Mantri Jeevan Jyoti Bima Yojana(Pmjjby)

Eligibility criteria for the PMJJBY are straightforward: Applicants must be at least 18 years of age, maintain an active bank account, and consent to the auto-debit mechanism for premium payments. The annual premium for this invaluable life insurance package is Rs. 436, and it is automatically debited in a single installment from the policyholder’s bank account.

Pradhan Mantri Jeevan Jyoti Bima Yojana Benefits Calculator

To establish the identity of account holders, the Aadhaar card stands as the primary KYC document. Notably, the PMJJBY is offered not only by the Life Insurance Corporation but also by other life insurance providers who are willing to extend the same terms and conditions, subject to obtaining necessary approvals and establishing partnerships with banks.

Pradhan Mantri Jeevan Jyoti Bima Yojana Benefits Form

Interested individuals can conveniently apply online for the Pradhan Mantri Jeevan Jyoti Bima Yojana and secure a substantial life coverage of Rs. 2 lakhs. This coverage remains effective for one year, starting on June 1st and concluding on May 31st, with the added convenience of renewal. Launched in 2015, PMJJBY is a one-year life insurance scheme that can be renewed annually, providing continuous coverage against the risk of death for its policyholders.

Pradhan-Mantri-Jeevan-Jyoti-Bima-Yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana Benefits Online

The risk coverage under Pradhan Mantri Jeevan Jyoti Bima Yojana amounts to Rs. 2 lakhs in the unfortunate event of the insured’s demise, regardless of the cause. This scheme is efficiently administered through both public and private sector insurance companies in partnership with scheduled commercial banks, regional rural banks, and cooperative banks.

Pmjjby Certificate Download

For those opting for online enrollment, the annual premium for PMJJBY is determined on a pro-rata basis in accordance with the guidelines set forth by the Ministry. The government has placed significant emphasis on strengthening the insurance sector, particularly since a substantial portion of the population previously lacked access to insurance coverage.

Apply Online

Plan Type Group Term Insurance Plan Linked to Savings Bank Account
Insurance Company M/s SUD Life Insurance Co. Ltd
Entry Age Minimum – 18 Years

Maximum – 50 Years

Tenure of Policy 1 Year, Renewal Every Year

Renewability up to 55 years

Sum Assured Rs. 2 Lac
Scheme Launch Date 1st June 2015
Coverage Period 1st June to 31st May (1 Year)

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Pmsby Benefits

This social security scheme was conceived with the aim of extending coverage to the economically disadvantaged, aligning with the vision of ‘Sabke Saath Sab ka Vikas’ (Development for All). The subscriber can specify their preferred auto-debit option, ensuring seamless premium payments on or before the 31st of May each year.

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