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Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a step in opposition to improving monetary safety and selling monetary inclusion in India. The scheme, which objectives to supply existence insurance plans to folks at an reasonably priced top class, used to be introduced through PM Narendra Modi on ninth Might, 2015.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
PMJJBY is a one-year existence insurance coverage scheme renewable from 12 months to 12 months providing protection for dying because of any explanation why.
PMJJBY Eligibility
Folks within the age staff of 18-50 years having a financial savings financial institution or a put up administrative center account are entitled to sign up beneath the scheme. Individuals who sign up for the scheme earlier than finishing 50 years of age can proceed to have the danger of existence lined as much as the age of 55 years upon fee of the top class.
PMJJBY Advantages
Lifestyles quilt of ₹2 Lakh in case of dying because of any explanation why.
A 30-day lien clause is also imposed within the PMJJBY scheme wherein the declare instances all over the primary 30 days from the date of enrollment might not be paid. Alternatively, deaths because of injuries could be exempted from the lien clause.
The top class of ₹436 will probably be deducted from the account holder’s financial savings checking account in the course of the ‘auto debit’ facility in a single installment, as consistent with the choice given, on or earlier than thirty first Might of every annual protection duration beneath the scheme topic to availability of the fund within the Financial institution’s account.
PMJJBY Enrolment
Enrolments beneath the scheme may also be achieved through visiting the department/ BC level or website online of the financial institution of the account holder or on the put up administrative center in case of a put up administrative center financial savings checking account. The top class beneath the scheme is auto-debited annually from the subscriber’s checking account in keeping with a one-time mandate from the account holder.
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Printed: 04 Jan 2024, 02:24 PM IST
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