Pradhan Mantri Jeevan Jyoti Yojana (PMJJBY)
The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join / enable auto-debit. Aadhar would be the primary KYC for the bank account. The life cover of Rs. 2 lakhs shall be for the one year period stretching from 1st June to 31st May and will be renewable. Risk coverage under this scheme is for Rs. 2 Lakh in case of death of the insured, due to any reason.
The premium is Rs. 436 per annum which is to be auto-debited in one installment f rom the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the scheme. The scheme is being offered by Life Insurance Corporation and all other life insurers who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.
Eligibility Criteria
- Should be an Indian Citizen
- In the age group 18 to 50 years
- Having Jandhan or saving bank account with Aadhaar.
- Auto-debit from bank account on consent
Benefits
- Rs.2 lakh on death due to any cause
- Premium @ Rs.436/- year
How to Apply
- Users can download this subscriber registration form to apply for Pradhan Mantri Jeevan Jyoti Bima Yojana.
- To apply for this scheme, you need to fill the form with details like your name, bank account number, email id, address, savings, etc.