Thursday, May 27, 2021

PMJJBY- Pradhan Mantri Jeevan Jyoti Bima Yojana Eligibility, Benefits, Scheme Details, Applications and Claim forms download- Insurance cover of Rs 2 lakh with premium of Rs 330.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Eligibility, Benefits Know the Scheme Details Insurance cover of Rs 2 lakh with premium of Rs 330.

PMJJBY Scheme : Pradhan Mantri Jeevan Jyoti Bima Yojana is a non-linked non-participating one year renewal group term insurance plan. The PMJJBY scheme covers a period of one year, and the premium amount is also low, which makes it affordable. The premium automatically gets deducted from the account holder’s savings account, and therefore the investor do not need to worry about paying premium on time. In case of death, the policy member will get the death benefit of Rs. 2 lakhs. (Rupees two lakhs only). The PMJJBY scheme is available for Indian citizens between the age of 18 years old and 50 years old with an active savings account. The policy offers life coverage of INR 2 Lakh at a nominal premium cost of INR 330 per annum. The PMJJBY scheme can be renewed every year, and the premiums are auto-debited from the associated bank account. Know about the PMJJBY scheme/ Pradhan Mantri Jeevan Jyoti Bima Yojana  Eligibility, Benefits, Scheme Details, Applications and Claim forms available in this page.


PMJJBY: సామాన్యులకు వరం.. మరింత చౌకగా జీవన్‌జ్యోతి బీమా స్కీం.. వివరాలు

Pradhan Mantri Jeevan Jyoti Bima Yojana: ప్రధానమంత్రి జీవన్‌జ్యోతి బీమా యోజన (PMJJBY) పథకాన్ని లైఫ్ ఇన్సూరెన్స్ కార్పొరేషన్, ఇతర జీవిత బీమా సంస్థలు అందిస్తున్నాయి.    ఏడాదికి ఒక‌సారి రూ.330 ప్రీమియం తో  రూ.2లక్షల బీమా సదుపాయం.

PMJJBY- ప్రధాన్ మంత్రి జీవన్ జ్యోతి బీమా యోజన అర్హత, ప్రయోజనాలు పథకం వివరాలు 

  1. ప్రజ‌లంద‌రికీ బీమా ఉండాల‌న్న ఉద్దేశంతో  ప్ర‌భుత్వం ప్రారంభించిన ప‌థ‌కం ప్ర‌ధాన‌మంత్రి జీవ‌న్ జ్యోతి బీమా యోజ‌న‌ సామాన్యులకు వరం. ప్రధానమంత్రి జీవన్‌జ్యోతి బీమా స్కీం వివరాలు.
  2. ఈ ప‌థ‌కంలో చేర‌డానికి 18 ఏళ్ల నుంచి 50 ఏళ్ల మ‌ధ్య వ‌య‌సు ఉన్న‌వాళ్లు అర్హులు. 
  3. ఇందుకోసం సంవ‌త్స‌రానికి రూ.330 ప్రీమియం చెల్లించాల్సి ఉంటుంది.
  4. క‌వ‌రేజీ ప్ర‌త ఏడాది జూన్ 1 నుంచి మే 31 వ‌ర‌కూ వ‌ర్తిస్తుంది. 
  5. ఏ కార‌ణంతో మృతి చెందినా నామినీకి రూ.2 లక్ష‌లు చెల్లిస్తారు. 
  6. ఈ ప‌థకంలో చేర‌డానికి బ్యాంకు ఖాతా ఉన్న ఏ వినియోగ‌దారుడైనా ఈ ప‌థకంలో ల‌బ్దిదారుడుగా చేర‌వ‌చ్చు. 
  7. ఏడాదికి ఒక‌సారి ఏక‌మొత్తంలో ప్రీమియం వ‌సూలు చేస్తారు.
  8. పాల‌సీదారు మ‌ర‌ణించిన‌ప్పుడు బ్యాంకు ఖాతా ఉన్న శాఖ‌లో వెళ్లి ఆ స‌మాచారాన్ని చేర‌వేసి ఇన్సూరెన్స్ క్లెయిం కోసం ద‌ర‌ఖాస్తు చేసుకోవ‌చ్చు.


Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Government through the Budget Speech announced three ambitious Social Security Schemes pertaining to the Insurance and Pension Sectors, namely Pradhan MantriJeevanJyotiBimaYojana (PMJJBY), Pradhan Mantri Suraksha BimaYojana (PMSBY)and an the Atal Pension Yojana (APY) to move towards creating a universal social security system, targeted especially for the poor and the under-privileged. Hon’ble Prime Minister launched PMJJBY and PMSBY schemes nationally in Kolkata on 9th May,2015.

2. The Pradhan MantriJeevanJyotiBimaYojana (PMJJBY) is a one year life insurance scheme, renewable from year to year, offering 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 enable auto-debit. The risk cover on the lives of the enrolled persons has commenced from 1st June 2015.

3. Under PMJJBY scheme, life cover of Rs. 2 lakhs is available for a one year period stretching from 1st June to 31st May at a premium of Rs.330/- per annum per member and is renewable every year. It is offered / administered through LIC and other Indian private Life Insurance companies. For enrolment banks have tied up with insurance companies. Participating Bank is the Master policy holder.

The assurance on the life of the member shall terminate on any of the following events and no benefit will become payable there under:

1) On attaining age 55 years (age near birth day) subject to annual renewal up to that date (entry, however, will not be possible beyond the age of 50 years).

2) Closure of account with the Bank or insufficiency of balance to keep the insurance in force.

3) A person can join PMJJBY with one Insurance company with one bank account only. 

PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA

  1. PMJJBY is available to people in the age group of 18 to 50 years ( life cover up to age 55) who is having a savings bank account who give their consent to join and enable auto-debit. 
  2. Under PMJJBY scheme, life cover of Rs. 2 lakhs is available at a premium of Rs.330.00 per annum per member and is renewable every year. 
  3. In the case of a joint account, all holders of the said account can join the scheme provided they meet its eligibility criteria and pay the premium at the rate of Rs.330 per person.


Also Read : Pradhan Mantri Suraksha Bima Yojana (PMSBY) Eligibility, Benefits, Application and Claim Forms

If the premium by the Scheme Renewal Date is not paid, this policy will lapse immediately with effect from the last unpaid premium due date. Premium before the end of the Scheme Renewal Date should be paid to ensure that the members continue enjoying the benefits of the Plan/Cover. If the due premium is not paid by the Scheme Renewal Date then cover ceases and the plan/membership will terminates.

PMJJBY Scheme Benefits :

1. PMJJBY provides a death coverage of Rs.2,00,000 to the beneficiary of the policy in the case of the sudden demise of the insured person. As PMJJBY is a pure term insurance plan, it does not offer any maturity or surrender benefit.

2. Death Benefit: Much like any other term insurance plan, Pradhan Mantri Jeevan Jyoti Bima Yojana offers a death benefit of up to INR 2 lakh upon the death of the policyholder.

a). Risk Coverage: Pradhan Mantri Jeevan Jyoti Bima Yojana plan covers all the life risks. It offers death benefits to the beneficiaries of the policy if the policyholder dies due to any reason. This amount will be paid after 45 days of death. In case the death of the policyholder is due to an accident, there is no waiting period, and the death benefit is provided to the beneficiaries immediately.

b). Tax Benefit: The investment made towards Pradhan Mantri Jeevan Jyoti Bima Yojana plan can be claimed for tax deductions under Section 80C of the Income Tax Act, 1961.


Key features of  Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).

  1. It provides life coverage for one year, and the policy can be renewed every year.
  2. It offers life insurance coverage of INR 2 lakh at nominal premium charges of INR 330 every year.
  3. Since it is a pure term insurance plan, the policy does not offer maturity benefits and only covers life risks.
  4. The coverage begins 45 days after the enrollment date. However, the sum assured amount will be paid in case of death due to an accident.
  5. The policy can be bought at any partnered banks having tie-ups with LIC and other private insurance companies in India.
  6. The policyholder needs to have a savings bank account to avail this plan
  7. One can simply rejoin the scheme even after exiting from it for any given reason.


PMJJBY Eligibility Criteria:

Minimum age of the Policy Member  :  18 Years.

Maximum age of the Policy Member  : 50 Years.

Maximum coverage age of the Policy Member : 55 years.

Policy Period : 1 (One year)

Bank Account Requirement : For enrollment Savings Account is Mandatory.

Period of Covaerage : 1 year Begins from June 1st May 31st of the next year 

Policy Assured amount : 2 Lakhs (Rupees two lakhs only).


How to Enroll :

  1. Download the PMJJBY application form from jansuraksha.gov.in/Forms-PMJJBY.aspx.
  2. The form is available in several languages, so choose the one that is convenient for you.
  3. Submit the duly filled form with your Savings Bank.
  4. Submit all the required documents
  5. Upon verification, you will be successfully registered under the scheme
  6. Most banks also offer an SMS-based enrollment process. Check with your respective bank for the details on the same and proceed with the application.



# Application Form in English

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