PMJJBY: Pradhan Mantri Jeevan Jyoti Bima Yojana | Eligibility & Benefits

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In February 2015 budget, finance minister Arun Jaitley launched Pradhan Mantri Jeevan Jyoti Bima Yojana life insurance scheme in India.

It is a one-year life insurance that offers coverage for death and offers the renewable from year to year. Termed as the pure term insurance policy, it only offers coverage for death and the nominee will get the benefit.

PMJJBY Eligibility 

Eligibility criteria for Pradhan Mantri Jeevan Jyoti Bima Yojana.

  • For the people up to the age of 50 who has a savings bank account.
  • Aadhar should be the primary KYC for the bank account.

Along with the savings bank account, they have to give their consent to auto join and give the consent for auto debit.

In case of multiple bank accounts, the person should be able to join it through one bank account.

PMJJBY Enrollment Period and Modality

LIC and other Indian private life insurance companies govern PMJJBY life insurance scheme.
The cover is for one year and stretches from 1st June to 31st May.

PMJJBY Enrollment Period

For the subscribers who are enrolling after 1st June, the insurance will not cover for death that occurs during the first 45 days within the enrollment period. And, in the case of death, other than the accidents, no claims would be remitted.

Anyone who plans to exit the scheme at any point can re-join at any time in the future by paying the entire annual premium.

The new entrants who are eligible and want to join in the future years shall be able to continue with the subject to the lien period of first 45 days.

PMJJBY Enrollment Process

To enroll, you can download this form and submit it to your banker to start.

There are two ways to enroll in Pradhan Mantri Jeevan Jyoti Bima Yojana

  1. SMS banking.
  2. Download the form and submit to bank offline.
  3. Internet banking.

PMJJBY Benefits and Premium

  • The premium for Pradhan Mantri Jeevan Jyoti Bima Yojana is Rs.330/- per annum.
  • The premium gets deducted from your bank account through the auto-debit facility and gets renewed on the basis of annual claims experience.
  • It is ensured that there is no revision of premium in first three years.
  • The benefit is of Rs.2 lakhs on member’s death regardless of the type of case.

PMJJBY Claim Settlement Process

Either LIC or the office of insurance company concerned will settle the claim. The process includes-

  • Nominee has to approach the bank where he/she is covered under the Pradhan Mantri Jeevan Jyoti Bima Yojana
  • You have to now collect the claim form, death certificate, and discharge receipt from the designated sources.
  • Submit the completed form, receipt, and certificate, along with the copy of canceled cheque to the registered bank.
  • The bank will verify the claim forms, nominee details, and will forward the documents to the registered office.
  • Once the process is over, you will get your claims within thirty days of the submission.

PMJJBY Termination Of Assurance

 The assurance of the member will be terminated on the following events and no benefit is payable under the cases:

  • On attaining the age of 55 years.
  • Closure of bank account in case of insufficient funds.
  • If the insurance cover is ceased due to technical reasons.

The Pradhan Mantri Jeevan Jyoti Bima Yojana scheme is governed by LIC, P&G, and the insurance company setup. You will be provided with one time mandate. The insurance company reserves the right to call for your documents at any time.


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