Pradhan Mantri Jeevan Jyoti bima yojana is launched by the govt. of India which offers total Rs 2 lac of insurance by just Rs 330 per year. Anyone can apply for this scheme but they should have their Indian residence and their age must be between 18 to 50 years. The scheme will be attached to the applicant saving bank account number. It is one of the monthly renewable schemes and you can apply one insurance scheme with one saving the account.

PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA PREMIUM DETAILS

first of all, you need to subscribe for the PMJJBY and when you become the subscriber of this scheme then the premium of Rs 330 will be automatically deducted from your account before the 30th May of every year.

Pradhan Mantri Jeevan Jyoti Bima Yojana Premium  Details

The premium of PMJJBY is Rs 330 per annum which is  auto-debited from the saving account of subscriber only once in  yearly basis.  This money would be debited from the on or before 30th May of each year.

Pradhan Mantri Jeevan Jyoti Bima Yojana Eligibility

  • The person should be within the age limit of 18 to 50 years
  • The subscriber should have a working saving account with any of the bank in India
  • Those who join the scheme after the last date of the scheme would have to pay full premium along with a good health certification.
  • The subscriber should give a written consent that the premium would be auto-debited from his/her saving account on an yearly basis and he/she would maintain the required minimum balance at the time of auto-debit.

PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA CLAIM SETTLEMENT PROCESS

Maximum sum of Rs 2 lac will be provided if your claim for the insurance. Here is the process of settlement of Pradhan Mantri Jeevan bima yojana:

1) Nominee has to reach the bank of the applicant where he can recover the insurance.

2) Nominee needs to take the death certificate of the applicant so, that he or she can get insurance.

3) Now, nominees have to fill the claim form as well as discharge receipt and also needs to offer the death certificate.

4) One photocopy of the canceled cheque need to be provided or you can give the bank account details for the settlement of the insurance.

TERMINATION OF ASSURANCE UNDER PMJJBY

There is some reason through which the benefits of the scheme can be terminated and no amount will be given to the nominee or the subscriber.

1) The scheme will be terminated if the subscriber is of above age of 55.

2) If you close your saving account then also the scheme will be terminated.

3) If you have more than one PMJJBY from the different saving account as one individual can apply only one insurance scheme.

4) The scheme will be terminated if the subscriber will fail to maintain the minimum balance of the account.