PM Jeevan Jyoti Bima Yojana: life Insurance in Rs. 1 a Day

Why PM Jeevan Jyoti Bima Yojana is a must-have for every Indian citizen?

The government-sponsored PM Jeevan Jyoti Bima Yojana (PMJJBY) was introduced on May 9, 2015, by Indian Prime Minister Narendra Modi. This program’s goal is to offer life insurance coverage at a reasonable price to those between the ages of 18 and 50 who do not currently have any.

A one-year renewable term life insurance policy with a death benefit of Rs. 2 lahks is provided through the PMJJBY plan. The Life Insurance Corporation of India (LIC) and other private insurance firms are in charge of running the program. The PM Jeevan Jyoti Bima Yojana’s eligibility requirements, perks, and other key features will be covered in this article.

What is PM Jeevan Jyoti Bima Yojana?

The Government of India introduced the PM Jeevan Jyoti Bima Yojana, a term life insurance program, in 2015. The program offers life insurance coverage to anyone between the ages of 18 and 50. The coverage is good for a year and the policyholder must pay an annual payment of Rs. 330. In the event of the policyholder’s passing, the insurance offers the nominee an amount insured of Rs. 2 lakhs.

PMJJBY Eligibility Criteria

The following qualifying requirements must be met to be eligible for the applicant to be accepted into the PMJJBY scheme:

1. The candidate must be an Indian national between the ages of 18 and 50.
2. The applicant must have a savings account with a bank of their choice.
3. The applicant must grant permission for the premium to be automatically deducted from his or her bank account.
4. The candidate should not already be covered by life insurance.
5. Before the deadline, the applicant should submit their application.

Pradhan Mantri Jeevan Jyoti Bima Yojana Benefits

Affordable Premium: The annual premium for PMJJBY is Rs. 330, making it relatively accessible to the average person.

Life Insurance: The plan provides an Rs. 2 lakh life insurance policy in the event that the covered individual passes away.

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Simple Enrollment: The candidate can join the program by providing a self-certification of good health, and the enrollment process is relatively straightforward.

Automatic Renewal: The policy is automatically renewed each year, and the insured person’s bank account is automatically deducted from the premium payment.

Nomination Facility: The insured individual has the option to name a nominee to receive the insurance payout in the event of their demise.

Tax Benefits: Section 80C of the Internal Revenue Code allows for tax benefits on the PMJJBY scheme premium.

How to Enroll for PM Jeevan Jyoti Bima Yojana?

The enrollment process for PM Jeevan Jyoti Bima Yojana is easy. Individuals can apply by visiting their bank branch or by logging into their net banking account online.

PM Jeevan Jyoti Bima Yojana Apply from Bank

Interested applicants can apply for the PMJJBY scheme by following the below-mentioned steps:

• Apply for the PMJJBY form simply by going to the nearby bank branch.
• Fill out the form completely, including the information for the nomination.
• Send the paperwork and a self-certification of good health to the bank.
• Give permission for the premium amount to be automatically deducted from your bank account.
• The insurance coverage will be issued when the application has been processed.

Pradhan Mantri Jeevan Jyoti Bima Yojana Online Apply

• Visit the official website of the insurer or bank that offers the PMJJBY program.
• Find the PMJJBY scheme and select “Apply Online” or “Enrol Now” from the menu.
• Include all pertinent information, including name, birthdate, address, Aadhaar number, nominee information, etc.
• Select the savings account from which the annual premium will be automatically deducted.
• Click “Submit” or “Enrol Now” after checking the information you’ve provided.
• Use your debit card, net banking, or another online payment method to pay the premium amount online.
• You’ll get a confirmation message when the payment is completed, and the insurance will then go into effect.

Pradhan Mantri Jeevan Jyoti Bima Yojana Login

• Visit the official website of the insurer or bank that offers the PMJJBY program.
• On the homepage, look for the “Login” or “Customer Login” button and click it.
• If this is your first time using the site, sign up by entering your user ID and password.
• You may access your insurance specifics, premium payment history, claim status, etc. after logging in.
• Click the “Pay Premium” option and follow the prompts to finish the payment if you want to pay a premium.
• Click the “Edit Profile” option and make the required adjustments to update your personal information, such as your address, nominee information, etc.
• Click the “Claim” button, enter the relevant information, and upload the appropriate documents if you wish to submit a claim.
• Once the claim has been submitted, you can check on its progress by logging into your account.

Pradhan Mantri Jeevan Jyoti Bima Yojana Certificate Download

• Visit the official website of the insurer or bank that offers the PMJJBY program.
• On the homepage, look for the “Login” or “Customer Login” button and click it.
• To access your account, enter your login name and password.
• Find the “Policy/Certificate” section after logging in, then click on it.
• To get a PDF copy of your PMJJBY certificate, click the “Download Certificate” or “Print Certificate” option.
• For future use, save the certificate to your device or print it off.

Documents Required for PM Jeevan Jyoti Bima Yojana

The documents required for PM Jeevan Jyoti Bima Yojana are:

• Savings bank account details.
• Age proof.
• Identity proof.
• Nominee’s details.

Pradhan Mantri Jeevan Jyoti Bima Yojana Pdf Application From

Take a printout of the Pradhan Mantri Jeevan Jyoti Bima Yojana Pdf Application. After Complete the application form and submit it to your bank together with the necessary supporting documentation. The Pradhan Mantri Jeevan Jyoti Bima Yojana Pdf Application is also available at your local bank branch.

PM Jeevan Jyoti Bima Yojana Premium

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) premiums are incredibly reasonable at just Rs. 330 per year, or less than one rupee each day. It is available to a wide spectrum of people, including those from low-income groups, due to the cheap premium.

Every year, the premium payment is automatically taken out of the subscriber's bank account. It's crucial to make sure that the premium is paid on time each year in order to keep the insurance in effect. The policy may be cancelled and the subscriber's insurance coverage may be lost if the premium is not paid.

It's vital to remember that the PMJJBY plan is yearly renewable, and the premium may occasionally change. The responsible bank or insurance provider will inform subscribers of any changes to the premium amount.

Claim Process for PM Jeevan Jyoti Bima Yojana

Follow the claim process for PM Jeevan Jyoti Bima Yojana:

• The nominee must inform the bank holding the savings account of the policyholder's passing.
• The claim form will be given to the nominee by the bank.
• The nominee must complete the claim form and submit it with the required paperwork.
• The bank will examine the paperwork and handle the claim.
• The nominee's savings account will be credited with the claim amount.

Conclusion

The Government of India's PM Jeevan Jyoti Bima Yojana is a fantastic project that aims to give the general public access to cheap life insurance coverage. The program provides a number of advantages, including simple enrollment, automatic renewal, and tax advantages. If you are an Indian citizen between the ages of 18 and 50 who do not currently have life insurance, you might think about signing up for this program. It is a simple investment that may give your loved ones financial stability in the event of your untimely passing.

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