Pradhan Mantri Jeevan Jyoti Bima Yojana Scheme Details, The scheme will be a one year cover, renewable from year to year, Insurance Scheme offering life insurance cover for death due to any reason.
The scheme would be offered / administered through LIC and other Life Insurance companies willing to offer the product on similar terms with necessary approvals and tie ups with Banks for this purpose.
participating banks will be free to engage any such life insurance company for implementing the scheme for their subscribers.
Pradhan Mantri Jeevan Jyoti Bima Yojana Scheme would be come in effect from: 1 June 2015
The official website of the scheme is www.jansuraksha.gov.in. National Toll-Free – 1800-180-1111 / 1800-110-001 and StateWise Toll free number are listed in this document Statewise Toll-Free (pdf)
Pradhan Mantri Jeevan Jyoti Bima Yojana Scheme Details
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY – SCHEME 2 – FOR LIFE INSURANCE COVER) Highlights
- Eligibility: Available to people in the age group of 18 to 50 and having a bank account. People who join the scheme before completing 50 years can, however, continue to have the risk of life cover up to the age of 55 years subject to payment of premium.
- Premium: Rs 330 per annum. It will be auto-debited in one instalment.
- Payment Mode: The payment of premium will be directly auto-debited by the bank from the subscribers account.
- Risk Coverage: Rs. 2 Lakh in case of death for any reason.
- Terms of Risk Coverage: A person has to opt for the scheme every year. He can also prefer to give a long-term option of continuing, in which case his account will be auto-debited every year by the bank.
- Who will implement this Scheme?: The scheme will be offered by Life Insurance Corporation and all other life insurers who are willing to join the scheme and tie-up with banks for this purpose.