Pradhan Mantri Jeevan Jyoti Bima Yojana Policy (PMJJBY)

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Similar to Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana is also an insurance scheme by the Government of India which aims to increase the adoption of life insurance cover by Indians. Launched along with Suraksha Bima Yojana and Atal Pention Yojana, the scheme has also seen a tremendous response with almost 30 million people getting covered within just about 8 months of launch of the scheme.

With the launch of the scheme, government aimed at creating a social security system, targeted especially for the poor and under-privileged category of society.

What is Pradhan Mantri Jeevan Jyoti Bima Yojana?

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a one year life insurance scheme being offered by the LIC (Life Insurance Corporation) of India and other private insurance companies through the Public and Private Sector banks. The scheme offers a life cover of Rs. 2 Lakh in case of loss of life due to any reason up to the age of 55 years.

Premium for Jeevan Jyoti Bima Yojana

The premium of Pradhan Mantri Jeevan Jyoti Bima Yojana can be affordable by people belonging to almost all income groups including EWS and BPL. It is just Rs. 330 per annum which will be auto-debited from the saving account of subscriber in the month of May every yeay. The insurance cover will commence from 1st June of the same year and will stretch to 31st May of the next year.

Specifications of the premium are as below
Insurance Premium to LIC / Insurance company: Rs. 289/-
Reimbursement of Expenses to BC/Micro/Corporate/Agent: Rs. 30/-
Reimbursement of Administrative charges of the participating bank: Rs. 11/-
TOTAL: Rs. 330

Eligibility for the Pradhan Mantri Jeevan Jyoti Bima Yojana

  • Any Indian resident within the age group of 18-50 years can join the scheme.
  • The aspirant should have an active saving bank account.
  • The subscriber should give a written consent to the bank for auto debit of premium amount.
  • The subscriber will have to maintain required balance in the bank account at the time of auto debit on or before 31st May every year.
  • The applicants will have to give a self certification of good health at the time of subscribing for the insurance cover.
  • The subscriber will have to make a self declaration at the time of availing the scheme that he/she is not suffered from any acute or critical illness.

Features of Pradhan Mantri Jeevan Jyoti Bima Yojana

  1. Yearly basis life insurance cover of Rs. 2 Lakh at a premium of just Rs. 330.
  2. Easy to join, maintain, exit and re-join.
  3. Available for all Indian citizens within age group of 18-50 years.
  4. being offered by LIC of India and other private insurance companies while the participating bank remaining the Master policy holder.
  5. Auto debit facility for the premium amount, no need to manually deposit the premium every year.

How to Join Pradhan Mantri Jeevan Jyoti Bima Yojana

STEP 1: The insurance scheme can be joined by presenting the dually filled application forms from official website of PMJJBY.

STEP 2: Fill the application form and go to the bank where you have an active saving bank account. Make sure you have the enough balance in the account to pay the premium.

STEP 3: Give declaration of good health and a signed consent of joining the scheme and auto-debit of premium amount. The consent document is attached along with the download application form.

Application Forms for PMJJBY

The application forms or consent cum declaration forms for the Jeevan Jyoti Bima Yojana can be downloaded form the official website in the desired language at the link below

Termination of Pradhan Mantri Jeevan Jyoti Bima Yojana

The insurance cover will terminate in any of the following events and no benefit will become payable there under.

  • Upon attaining the age of 55 years subject to annual renewal up to that date (entry, however, will not be possible beyond the age of 50 years).
  • Closure of the saving bank account or the insufficiency of the balance at the time of renewal.
  • In case the applicant is found to be covered under more than one saving bank account, only one will remain active, rest will be terminated and the premium will be forfeited.
  • The subscriber can himself/herself can exit the scheme any time in any particular year and can re-join by paying the full premium from the succeeding year.

How to Claim Jeevan Jyoti Bima Yojana Cover Amount

In case of claim the nominees/heirs of the insured person have to contact respective bank branch where the
insured person was having bank account. A death certificate and simple claim form is required to submit and the claim amount will be transferred to nominees account.

The Jeevan Jyoti Bima Yojana claim forms can be download from the below link

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14 thoughts on “Pradhan Mantri Jeevan Jyoti Bima Yojana Policy (PMJJBY)”

  1. Strange to see no responce of above any queries raised by investers ?

    are we just distributing this amount to M yojna without any acknowledgement . we should imm stop this deposition of small amount if doesnot worth to continew


  2. Anurag modi says sir Mera khata SBI jiska branch code 15828 Hai Maine branch manager Sir se bola sir mujhe pmjjby and atal pension yonna Lena Hai to bole sarkari yojna kejhamele mei na pado suno hamari bank ki yojnaye le lo mujhe sure mujhe Khali hath lautna pada 09455842580

  3. mera bank me s/b a/c tha,aur mane PMJJBY Schemes me samti diya tha fir bhi bank ne amuont debat nahi kiya aur meri mata ke death huva .muje amount nahi mel rahe hai ka karu?

  4. sIr,
    I have Bank A/c in IOB. I did not recd any PMJJY/PMSBY policy certificates from bank or LIC.Last 2 years already deducted amount on my accounts. Pls advice, how can i get or download.

  5. Hello Sir I am poor boy I have many problems In my home no light . I have not much money. Sir my village name is Rampur kala Machhali shahar jaunpur. 7052655153 no.

  6. sir, i have my PMJJBY certificate
    as per installment Rs.330/- deduct from seving account Axis Bank ,
    but not yet receive my policy number & that policy certificate
    so, please guide
    which is the procedure for Certificate hard copy PMJJBY

  7. “The scheme offers a life cover of Rs. 2 Lakh in case of loss of life due to any reason up to the age of 55 years.”

    HERE THEYA RE MENTIONING THE GOVT WILL PAY Rs. 2 lac for the loss of life till the age of 55.

    But Under the scheme you are eligible to apply when you are between age of 18-50.

    so my question is if as soon as one cross the age of 50. he will be disqualify for the scheme. in that case how i can get claim if he dies under the age of 55.

    If onebody have answere of my question pls reply.



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