Pradhan Mantri Jeevan Jyothi Bima Yojana Details & Benefits | PMJJBY

Pradhan Mantri Jeevan Jyoti Bima Yojana Eligibility | PM Jeevan Jyoti Bima Yojana Features & Benefits | PM Jeevan Jyoti Bima Yojana Application Form | Pradhan Mantri Jeevan Jyoti Bima Yojana Review & Details.

Pradhan Mantri Jeevan Jyothi Bima Yojana is a term insurance policy, which covers only mortality with no investment component. The cover under PMJJBY is for death only and hence benefit will accrue only to the nominee. It is a one year life insurance scheme renewable from year to year, offering coverage of death. 

">Pradha Mantri Jeevan joythi Bima Yojana is subsidised by the Central Government. This was established in the 2015 budget. It allows coverage for death due to any reason and is available to people in the age group of 18 to 50 years ( life cover upto age 55) having a savings bank account who give their consent to join and enroll in the auto-debit Facility. This policy issues cover of Rs. 2 lakhs on a modest premium of Rs. 330 per annum on accidental death of the policyholder.

Features - PM Jeevan Jyothi Bima Yojana 

PMJJBY's key features are mentioned below are :

1. A Life coverage of Rs 2 lakh is available for one year period. 
2. This scheme is affordable for the underprivileged section of society. 
3. An individual has multiple bank accounts then he can join the scheme through just one bank account. 
4. The Aadhaar card must be linked to a savings account
5. Any citizen is eligible to register in this scheme even if he is a joint account holder.
6. The policy is activated via auto debit from the policyholder's savings bank account to renew the plan.
7. The policyholder is eligible for tax deduction under section 80C of the Income Tax Act.
8. It is offered / managed by LIC(Life insurance companies) 
9.  and other Indian private companies.

What is the annual premium for Pradhan Mantri Jeevan Jyothi Bima Yojana? 

Under this scheme, affordable premium rates are available to all citizens belonging to almost all income groups. PM Jeevan Jyothi Bima Yojana, the policyholder has to pay a premium of Rs. 330 per annum.  Which will be auto debited from the customer's savings account in the month of May every year.  Under the Pradhan Mantri Jeevan Jyoti Bima Yojana, the insurance cover will start from 1st June this year and end on 31st May next year.  No medical examination is required to purchase insurance at PMJJBY. 

1. Insurance premium to LIC/Insurance company – Rs 289/-
2.  Reimbursement of Expenses for BC/Micro/Corporate/Agent – ​​Rs.30/-
3.  Reimbursement of Administrative Fee of Participating Bank – Rs.11/-

The Benefit Under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) 

1. Any individual Citizens between the ages of 18 and 50  can benefit from this scheme. 
2. Rs 2 lakh is provided as life insurance to the beneficiary, sudden death of the policy 
3. Under this scheme, after the death of the policyholder, the family of the policyholder may renew the PMJJBY from year to year under this scheme.  A member of this plan has to pay an annual premium of Rs. 330.  Life insurance of Rs. 2 lakhs will be given.
4. To enrol in this scheme, no medical examination is required. 
5. The term of PMJJBY maturity is 55 years.

Eligibility - PM Jeevan Jyothi Bima Yojana (PMJJBY) 

1. Citizens of all income groups should be between 18 and 50 years of age to enroll in the scheme.
2. The policyholder of PMJJBY has to pay a premium of Rs 330 per year.
3. The policyholder must have a saving bank account, as the compensation fund provided by the government will be transferred directly to the beneficiary's bank account.
4. The subscriber must maintain the required balance in the bank account at the time of auto debit on or before May 31 of each year.
5. The subscriber must maintain the specified balance within the bank account at the time of auto debit on or before May 31 of every year.

Essential Documents for PM Jeevan Jyoti Bima Yojana (PMJJBY) 

1. Aadhar card
2. Identity card
3. Passport size photo
4. Contact number 
5. Bank Pass Book 

How do I Apply/Enroll? 

To apply for the benefits of PM Jeevan Jyoti Bima Insurance Scheme should follow the procedure given below :

1. Visit the official website of PMJJBY. 
2. Download the Application form of PMJJBY and fill the details requested in the form.
3. The pdf is available in Regional Languages such as English,Kannada, Hindi, Telugu, Tamil, Bangla, Gujarati, Marathi and odisha.
4. Policy can also be activated by SMS & INTERNET BANKING. 

Using SMS :-

• Receives activated SMS. 
• Reply to SMS by typing PMJJBY<space>Y. 
• Next receives an acknowledgement Receipt. 
• Further process managed by banker's. 

 

Using INTERNET BANKING :-

• Log in to an Internet Banking Website/Application. 
• Choose the insurance section. 
• Select the account that is to be paying a premium amount. 
• Check details that exist, correct and confirm. 
• Download the receipt and record reference number. 

Termination/Discontinue of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) 

1. Beneficiary's amount will not be payable if life insurance expires in any of the following cases:
2. The Beneficiary reaches beyond the age of 50 years
3. If insured person closure of Bank or Insufficiency of balance
4. The insured person covered more than one account then insurance is forfeited 

Is it possible to claim the PMJJBY scheme in case of death due to Corona/Covid Infection?

If death occurs due to covid infection then take advantage of the scheme by following these conditions :

Pradhan Mantri Jeevan Jyoti Bima Yojana is a type of life insurance scheme.  Through which an amount of ₹ 200000 is provided to the nominee in case of death.  All those citizens whose family member has died due to coronavirus infection or any other reason and that member was registered under this scheme, then he is eligible to get the sum insured up to ₹ 200000.  He will be able to take advantage of this scheme only if the policy holder has purchased this policy in 2020-21.

The minimum age to buy this policy is 18 years and the maximum age is 55 years.  To take advantage of Pradhan Mantri Jeevan Jyoti Bima Yojana, it is mandatory to have a savings bank account and give your consent for auto debit of the savings bank account.  To get the benefit of this scheme, it is mandatory to pay a premium of ₹ 330 per year

Application form	Official website
State-Wise Toll free Number	Download Pdf
Helpline number	18001801111 / 1800110001