Prime Minister Jeevan Jyoti Bima Yojana (PMJJBY) is a social security scheme launched by the Government of India. The scheme provides a life insurance cover of ₹2 lakh at a low premium. The scheme aims to provide life insurance to the poor and low-income sections of the country at affordable rates.
Benefits of the Jeevan Jyoti Yojana
- Life insurance cover of ₹2 lakh
- Premium of only ₹436 per annum
- Payable on death due to any reason
- No medical examination required
- Simple enrolment process
- Renewable scheme
Eligibility
- Indian citizens between the ages of 18 and 50 years.
- Must have a savings account in any participating bank.
- Must not be already enrolled in the scheme.
Enrolment
- You can enrol for PMJJBY by visiting any of your participating banks.
- You need to fill out the enrolment form and submit your proof of identity and address.
- The premium of ₹436 will be automatically debited from your bank account.
Documents Required
You need to submit copies of the following documents along with the enrolment form:
- Proof of Identity: Aadhaar Card, PAN Card, Voter ID Card, Driving License, etc.
- Proof of Address: Aadhaar Card, Passport, Electricity Bill, Ration Card, etc.
- Bank Account Details: Bank Passbook, Bank Statement, etc.
Policy Term
The policy term is one year. This means that your insurance coverage must be renewed on June 1 every year.
Renewal
- You can renew your policy between June 1 and May 31 every year.
- If you do not renew your policy by May 31, your cover will expire.
- If your cover expires and you renew later, you will have to pay the premium for the previous months.
Claim
- In case of the death of the insured, the nominee can get a claim of ₹2 lakh.
- To make a claim, the nominee needs to submit the claim form to the insurance company along with the required documents.
Importance of PMJJBY
PMJJBY is an important scheme that provides life insurance to low-income people at affordable rates. This scheme helps to provide financial security and protect families from financial loss.
Conclusion
If you are between the ages of 18 and 50 and do not have life insurance, PMJJBY is a good option for you. It is an affordable scheme that can provide financial security to you and your family.
Additional Information:
- For more information, you can visit the official website of PMJJBY at https://www.jansuraksha.gov.in/.
- You can also get information about the scheme from any of your participating banks.
Also Read:
- Van Dhan Vikas Yojana 2018: Complete Information
- Kanya Saksharta Protsahan Yojana: Complete Information
