Last Updated on July 27, 2024 by Rojgar Buddy Team
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) provides life insurance cover for death from any cause. It offers a one-year policy that can be renewed annually.
Banks and post offices facilitate the scheme, which is managed by life insurance companies. Any individual aged 18 to 50, holding an account with a participating bank or post office, can enroll.
Pradhan Mantri Jeevan Jyoti Bima Yojana: Benefits
- Coverage: PMJJBY offers a one-year term life cover of ₹ 2.00 Lakh.
- Eligibility: Available to subscribers aged between 18 and 50 years.
- Coverage Details: It covers death due to any reason.
- Premium: ₹ 436/- per annum per subscriber.
- Payment Method: Premium is auto-debited from the subscriber’s bank or post office account.
Pradhan Mantri Jeevan Jyoti Bima Yojana: Eligibility
- Applicants must be aged between 18 and 50 years old.
- Applicants must possess an individual bank or post office account.
Pradhan Mantri Jeevan Jyoti Bima Yojana: Online Application Process
PMJJBY coverage can be obtained online through your bank’s Net banking service.
Pradhan Mantri Jeevan Jyoti Bima Yojana: Offline Application Process
Offline Steps to Apply for PMJJBY Insurance:
- Download Form:
- Visit this link.
- Download and print the “CONSENT-CUM-DECLARATION FORM”.
- Complete Application:
- Fill out the form completely and sign it.
- Attach self-attested copies of required documents.
- Submit Application:
- Submit the completed form and documents to the authorized official at your nearest Bank or Post Office.
- You will receive an “ACKNOWLEDGEMENT SLIP CUM CERTIFICATE OF INSURANCE” from the official.
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FAQs
What is Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?
PMJJBY is a government-backed life insurance scheme that provides coverage for death due to any cause.
Who is eligible to enroll in PMJJBY?
Individuals aged 18 to 50 years holding a savings bank account with a participating bank or post office are eligible.
What is the coverage amount provided by PMJJBY?
PMJJBY offers a life cover of ₹ 2.00 lakh for the policy term of one year.
What is the premium amount for PMJJBY?
The premium for PMJJBY is ₹ 436 per annum per subscriber.
How is the premium paid for PMJJBY?
The premium is auto-debited from the subscriber’s bank or post office account.
Is there any waiting period for coverage under PMJJBY?
No, coverage under PMJJBY starts immediately upon enrollment.
Can NRIs (Non-Resident Indians) enroll in PMJJBY?
No, NRIs are not eligible for PMJJBY.
Is there a medical examination required to enroll in PMJJBY?
No, there is no requirement for a medical examination to enroll in PMJJBY.
What happens if the premium payment is missed?
If the premium payment is missed, the policy will lapse, and coverage will cease.
Can a person have more than one PMJJBY policy?
No, each individual can only hold one PMJJBY policy.
What is the tenure of the PMJJBY policy?
PMJJBY provides coverage for a term of one year, renewable annually.
Can PMJJBY be renewed after the first year?
Yes, PMJJBY can be renewed annually by paying the premium.
What documents are required to apply for PMJJBY?
Self-attested copies of age proof and a savings bank account details are required along with the application form.
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