Under PMJJBY Scheme a sum of Rs.2 Lac is paid to the nominee of the subscriber on subscriber’s death due to any cause.which is to be renewed every year
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
After the overwhelming response of Pradhan Mantri Jan Dhan Yojana, Prime Minister Sh. Narendra Modi on 9th May 2015 launched a series of social security schemes for the welfare of people working in the unorganized sector. These social security schemes of government help cope up with uncertainties of life.
These schemes are as under:-
Pradhan MantriJeevanJyotiBimaYojana (PMJJBY)
Atal Pension Yojana (APY)
Pradhan MantriJeevanJyotiBimaYojana (PMJJBY):
PMJJBY is a one-year Term Life Insurance Scheme which is to be renewed every year and offers life insurance cover for death due to any cause.
Under PMJJBY Scheme a sum of Rs.2 Lac is paid to the nominee of the subscriber on subscriber’s death due to any cause.
NOTE: For Subscribers enrolled on or after 01st June 2016:
The insurance benefits shall not be available for death due to any cause other than an accident occurring during the first 45 days from the date of enrolment into the scheme Death due to accidental causes will be covered from day one of insurance coverage.
|
PREMIUM OF PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA:
Rs. 330/- per annum
Premium breakup
Insurance Premium to LIC /other insurance company: Rs.289/- per annum per member
Reimbursement of Expenses to BC/Micro/Corporate/Agent: Rs.30/- per annum per member Reimbursement of Administrative expenses to participating Bank: Rs.11/- per annum per member.
ELIGIBILITY CRITERIA FOR PMJJBY:
1. The beneficiary should be in the age group between 18- 50 years.
2. Maximum age of entry in this scheme is 50 years.
3. Already registered subscribers may continue this scheme until they attain 55 years of age.
4. The beneficiary should be a saving bank account holder in any of the participating banks.
5. Aadhar card is mandatory for PMJJBY registration.
6. If multiple bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one bank account only.
Benefits Offered by PMJJBY:
Risk Coverage: A Sum Assured of Rs.02.00 Lac is paid to the Nominee on the death of the Insured member for any reason (either natural or accidental).
Tax Benefit- The amount paid towards the PMJJBY policy Premium is eligible for tax deduction under section 80C of Income Tax Act.
Auto Debit: The Premium amount is automatically debited from subscribers saving account annually, and subscriber need not visit the bank branch every time for policy renewal.
Terms and Conditions:
All Subscribers joining the scheme after 30th November 2015 will have to submit a self-certified medical certificate that he/she is not suffering from any critical illness as mentioned form.
All Bank account holders other than institutional account holders are eligible to register under this scheme.
Subscribers who exit the scheme at any time may re-join the scheme by paying the annual premium.
Joint account holders can enrol for the PMJJBY scheme by submitting a separate request for enrolment at their Bank Branch.
Customers, who desire to cancel the auto-renewal, need to submit such request before April 30 of the year. Renewal premium will be auto-debited until the eligible age of the insured is as per the scheme norms.
If any information provided by a subscriber is found to be wrong, then membership of that member shall be cancelled from the date of joining the scheme and all premium paid stands forfeited.
Participating Banks in PMJJBY
Public Sector Banks
| ||
S.NO.
|
BANK NAME
|
WEBSITE
|
1.
|
Allahabad Bank
|
https://www.allahabadbank.in
|
2.
|
Andhra Bank
|
https://www.andhrabank.in
|
3.
|
Bank of Baroda
|
https://www.bankofbaroda.co.in
|
4.
|
Bank of India
|
https://www.bankofindia.co.in
|
5.
|
Bank of Maharashtra
|
https://www.bankofmaharashtra.in
|
6.
|
Canara Bank
|
https://www.canarabank.com
|
7.
|
Central Bank of India
|
https://www.centralbankofindia.co.in
|
8.
|
Corporation Bank
|
https://www.corpbank.com
|
9.
|
Dena Bank
|
https://www.denabank.com
|
10.
|
IDBI Bank Limited
|
https://www.idbi.com
|
11.
|
Indian Bank
|
http://www.indianbank.in
|
12.
|
Indian Overseas Bank
|
https://www.iob.in
|
13.
|
Oriental Bank of Commerce
|
https://www.obcindia.co.in
|
14.
|
Punjab & Sind Bank
|
https://www.psbindia.com
|
15.
|
Punjab National Bank
|
https://www.pnbindia.in
|
16.
|
State Bank of India
|
https://www.sbi.co.in
|
17.
|
Syndicate Bank
|
https://www.syndicatebank.in
|
18.
|
UCO Bank
|
https://www.ucobank.com
|
19.
|
Union Bank of India
|
https://www.unionbankonline.co.in
|
20.
|
United Bank of India
|
http://www.unitedbankofindia.com
|
21.
|
Vijaya Bank
|
www.vijayabank.com
|
Participating Insurance Companies in PMJJBY
1. New India Assurance
2. United India Insurance
3. National Insurance Company
4. Reliance General Insurance
5. ICICI Lombard General Insurance
6. Cholamandalam MS General Insurance
7. Universal Sompo General Insurance
Complaints/Queries for Pradhan Mantri Jevan Jyoti Bima Yojana
National Toll-Free - 1800-180-1111 / 1800-110-001
STATES TOLL FRE NOS PMJJBY
STATES TOLL FRE NOS PMJJBY
PRADHAN MANTRI JEEVAN JYOTI BIMA APPLICATON FORM:
PRADHAN MANTRI JEEVAN JYOTI BIMA CLAIM FORM:
COMMENTS