Overview
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- Pradhan Mantri Jeevan Jothi Bhima Yojana (PMJJBY) is a life insurance scheme with a life cover of ₹2 lakh at a premium of ₹436 per annum per member and is renewable every year.
- Policy Period: Period of insurance is annual (1st June to 31st May of every year), Coverage will be auto renewed during end of May every year.
- Premium: The premium is ₹436 per annum which will be auto-debited in one instalment from the subscriber's bank account as per the option given by him/her on or before 31st May of each annual coverage period under this scheme.
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Eligibility
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- The scheme is eligible for the resident customers with a Bank account including BSBD account.
- All individual bank account holders in the age group of 18 to 50 years in participating banks will be entitled to join this scheme.
- The insured person can renew the policy up to the age of 55 years and the premium will be debited till the customer attains 55 years of age.
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Risk Coverage
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- Risk coverage under this scheme is for ₹2 lakh in case of death of the insured, due to any reason.
(* Risk cover will start from 30 days after fresh enrolment)
(**Claim forms to be submitted to concerned bank branch within 30 days from the date of death.)
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How to enrol in the scheme ?
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- PMJJBY application forms are available in all our Bank Branches. Our customers can approach the nearest branch / Business Correspondents and join the scheme.
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Forms for PMJJBY
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