Pradhan Mantri Jeevan Jyoti Bima Yojana: Get Life Insurance worth Rs. 2 lakhs at just Rs 330; Check Eligibility, Benefits & Other Details
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a scheme that provides life cover on death of the insured member because of any reason. Fixed sum of Rs. 2 lakh is payable to the nominee upon the death of the insured member. No maturity benefit / surrender benefit is payable under this scheme
PMJJBY: Pradhan Mantri Jeevan Jyoti Bima Yojana covers Coronavirus deaths. The nominee can claim insurance benefits under PMJJBY, if the insurer dies due to Covid-19. The scheme covers death due to any reason & a maximum of Rs 2 lakh insurance benefits can be availed.
Besides PMJJBY, there are many other beneficial government health insurance schemes in India
Pradhan Mantri Jeevan Jyoti Bima Yojana Details
Check out the details of PMJJBY below;
Eligibility for PMJJBY
In order to open an account under PMJJBY, Aadhaar card will be the main ‘Know Your Customer’ (KYC) document.
A person should be at least 18 years old to register for the scheme. The maximum age limit is 50 years.
Benefits of PMJJBY
Fixed sum of Rs. 2 lakh is payable to the nominee upon the death of the insured member. No maturity benefit / surrender benefit is payable under this scheme.
You will have to pay a premium of just Rs. 330 / annum. The scheme will be a 1-year cover and renewable from year to year. The fixed timeline is 1 June to 31 May every year. The premium would be deducted from person’s savings account yearly. The first premium will depend on the quarter in which the scheme is opted. Customers will have to maintain sufficient balance in the account.
Risk coverage - The death benefit will be given to the nominee of the policyholder on the occurrence of death after 45 days of registration. No cooling period will be required for the deaths due to accidents.
Tax benefits can be availed on the premium that is paid under the policy under Section 80C of Income Tax Act.
PMJJBY form is available in different Indian languages. These include English, Hindi, Gujarati, Bangla, Kannada, Odia, Marathi, Telugu and Tamil. For more information related to Pradhan Mantri Jeevan Jyoti Bima Yojana click here - https://jansuraksha.gov.in/
PMJJBY Helpline number
For more information about this policy, you can call at 1800-180-1111 / 1800-110-001 (toll free number)
To recall, India Post Payments Bank last year collaborated with PNB MetLife India Insurance Company Limited to introduce Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
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