Details of Pradhan Mantri Jeevan Jyoti Bima Yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana

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One year life insurance cover of Rs. 2,00,000/- will be provided to Indian Citizens who are in the age group of 18 years to 50 years under Pradhan Mantri Jeevan Jyoti Bima Yojana of the Central Government. Applicant will have to pay the premium amount of Rs. 436/- per year for enrollment.
Read the complete article to get full details about the scheme.

Pradhan Mantri Jeevan Jyoti Bima Yojana Highlights
Scheme Name Pradhan Mantri Jeevan Jyoti Bima Yojana. (PMJJBY)
Date of Launch 09-05-2015
Benefits Provided Life Insurance Cover of Rs. 2 Lakh.
Eligible Beneficiaries Person in the Age Group of 18 to 50 years.
Official Website Jan-Dhan se Jan Suraksha Portal.
Responsible Department Department of Financial Services.
How to Apply
  • Through the Application Form.
  • Through the Bank’s Official Website.
Free Scheme Updates WhatsApp | Telegram

PM Jeevan Jyoti Bima Yojana

Introduction of Pradhan Mantri Jeevan Jyoti Bima Yojana – PMJJBY: A Brief Insight

  • Life Insurance Security Covers provided by insurance companies are very expensive, and it is not possible for any middle or lower-class-income group families to afford them.
  • Due to this non-affordability, the families had no financial security cover if they lost their head of the family or the only earning member of the family.
  • Keeping these things in mind, the Government of India launched a super affordable life insurance scheme for the people of India named “Pradhan Mantri Jeevan Jyoti Bima Yojana” on 09-05-2015 in Kolkata.
  • PM Jeevan Jyoti Bima Yojana is a 1-year life insurance scheme that aims to provide social security cover to people of India and offers financial assistance to the next of kin in case of the death of an insured person.
  • This scheme is implemented by the Department of Financial Services with the help of Banks, Post Offices, LIC and other insurance companies.
  • One year life insurance cover of Rs. 2,00,000/- will be provided to applicants under PM Jeevan Jyoti Bima Yojana.
  • This means that on the death of an insured person, the insurance company will pay Rs. 2 lakh to the nominee or legal heir of the deceased insured person.
  • In PMJJBY, any cause of death of an insured person is eligible for a claim.
  • This scheme offers life insurance cover only for those bank/ post office account holders whose age is between 18 years to 50 years.
  • The insurance premium of Pradhan Mantri Jeevan Jyoti Bima Yojana is Rs. 436/- per year, which is deducted from the applicant’s bank account on auto debit mode every year.
  • The cover of this scheme starts from the 1st of June and ends on 31st May.
  • Respective Banks and Post Offices are the master policyholders of Pradhan Mantri Jeevan Jyoti Bima Yojana.
  • Whereas, the LIC and other insurance companies are the insurance settlement agencies.
  • Applicant can visit their bank branch and enroll themselves under Pradhan Mantri Jeevan Jyoti Bima Yojana – PMJJBY and avail the benefit of life insurance cover.
  • The claim of the PM Jeevan Jyoti Bima Scheme can be filed in the respective banks in case of the death of an insured person.
  • It is mandatory to submit the PMJJBY Claim Form within 30 days of the death of an insured member.
  • Nominee or Legal Heir can also explore “Compensation to Victims of Hit and Run Motor Accident Scheme”.

Information of Pradhan Mantri Jeevan Jyoti Bima Yojana

Amount of Premium of PMJJBY

  • The beneficiary can enroll themselves under the Prime Minister Jeevan Jyoti Bima Yojana throughout the year.
  • The insurance premium amount will vary according to the month of the applicant’s enrollment under this scheme.
  • Following are the classifications of the premium amount of Pradhan Mantri Jeevan Jyoti Bima Yojana – PMJJBY according to the month of enrollment :-
    Month of Enrollment Amount of Premium
    • June
    • July
    • August
    		 Rs. 436/-
    • September
    • October
    • November
    		 Rs. 342/- (Prorata Premium)
    • December
    • January
    • February
    		 Rs. 228/- (Prorata Premium)
    • March
    • April
    • May
    		 Rs. 114/- (Prorata Premium)

Benefits Provided to Eligible Beneficiaries

  • Registered Beneficiary will get the following benefits from the Central Government under Pradhan Mantri Jeevan Jyoti Bima Yojana – PMJJBY :-
    • Rs. 2,00,000/- Life Insurance Cover.
    • Reasonable Premium of Rs. 436/- per year.
    • Death due to any cause is covered under PMJJBY.
    • Rs. 2 lakh will be given to the nominee or legal heir in case of the death of an insured person.

Eligibility Conditions Required to be Fulfilled

  • Central Government sets the below-mentioned eligibility criteria for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), which are required to be fulfilled to get enrolled under this scheme :-
    • Any Indian Citizen are Eligible to Apply.
    • The Age of the Applicant should be between 18 years to 50 years.
    • Applicants should have an Aadhaar-linked bank Account or a Post Office Account.

Documents Required to be Attached

  • The following documents will be required at the time of enrolling/ applying under the Central Government’s PM Jeevan Jyoti Bima Yojana :-
    • Bank Account Details.
    • Aadhaar Card.
    • PAN Card.
    • Mobile Number and Email.

How Beneficiaries Can Apply to Avail the Benefit of this Scheme

  • Applicant who wishes to enroll under the Central Government’s Pradhan Mantri Jeevan Jyoti Bima Yojana can get themselves registered under this scheme through the following ways :-
    • Through the Offline Application Bank by visiting the Bank.
    • Through an Online Application on the Bank’s Official Website.

Offline Application Process

  • Pradhan Mantri Jeevan Jyoti Yojana is a voluntary life insurance cover scheme that is implemented with the help of banks.
  • Banks will not force, only insist the visitors to enroll in the PM Jeevan Jyoti Yojana at the time of opening a bank account.
  • If the applicant is interested, then the bank officials will enroll the customer in PMJJBY by filling out the small application form.
  • Applicant will have to give their consent for auto debit of the premium amount of Rs. 436/-, which will be deducted every year from the bank account of the applicant.
  • Bank Official will open the account of the applicant and simultaneously enroll them under the PM Jeevan Jyoti Bima Scheme.
  • If any beneficiary already has a bank account and they can visit the bank branch and apply separately for this scheme and get themselves enrolled.
  • Policy Number and Insurance Policy Documents of PMJJBY will be sent to the beneficiary’s email by the insurance company.
  • Visit the nearest bank branch of any bank they will guide you.

Online Application Process

  • Beneficiaries who already have a bank account can enroll themselves under Pradhan Mantri Jeevan Jyoti Bima Scheme through the Official Website of the Bank.
  • Visit your bank’s official website and log in with you ID and Password.
  • Choose PM Jeevan Jyoti Bima Yojana (PMJJBY) from the services tab and click on it.
  • Fill out the Application Form and upload the required documents.
  • Fill in the nominee details correctly and set an auto debit for the insurance premium.
  • Check the filled application form and click on the submit button to submit it.
  • After final approval from the bank and the insurance company, the PM Jeevan Jyoti Bima Yojana Policy Document will be sent on the email address of the applicant.
  • It is to be hereby mentioned that the online application process will be different according to the bank.

Claim Procedure of PMJJBY

  • In case of the death of an insured person, the nominee or the legal heir of the deceased insured person will have to claim the insured amount of Rs. 2 lakh under Pradhan Mantri Jeevan Jyoti Yojana.
  • The channel of the claim process is through the bank in which the insured person has a bank account from which the insurance installment amount has been deducted.
  • Legal Heir/ Nominee will have to visit the bank and inform them about the death of the insured person.
  • Collect the Claim Application Form of the PM Jeevan Jyoti Bima Scheme from the bank and fill it correctly without making any mistakes.
  • Attach the following documents with the claim form :-
    • PMJJBY Policy Number or PMJJBY Policy Documents.
    • Identity Proof of Deceased Insured Person.
    • Identity Proof of Nominee or Legal Heir.
    • Death Certificate of a Deceased Insured Person.
    • Any other documents required by the Bank.
  • Submit the PM Jeevan Jyoti Yojana Claim Application Form along with all the documents to the bank.
  • Respective Bank will verify the details and approve the documents from their side and paste a bank seal on it.
  • Approved Claim Documents will then be sent to the concerned insurance company for the disbursement of the claim amount.
  • The insurance company will again check the claim form and documents and finally approve the claim under Pradhan Mantri Jeevan Jyoti Bima Yojana.
  • The amount of insurance of Rs. 2 lakh, which is disbursed under PM Jivan Jyoti Beema Yojana by the insurance company upon the death of an insured person, will be directly transferred in the bank account of the nominee or legal heir of the deceased.

No Claim Conditions

  • The government notifies certain conditions under which no claim under the PM Jeevan Jyoti Bima Yojana is payable.
  • The following are the conditions in which insurance companies is not liable to pay any insurance amount to the nominee or legal heir of the insured person:-
    • When the Insured Person turns 55 years old.
    • Bouncing of Insurance Installment due to less or an insufficient balance in the account.
    • Bank or Post Office Account Closure.
    • Availing the benefit of PMJJBY or registering under PMJJBY through multiple bank accounts.

Important Application Forms of the Scheme

  • Pradhan Mantri Jeevan Jyoti Bima Yojana Application Form is available in every bank. However, the beneficiary can also download the sample application form of PM Jeevan Jyoti Bima Yojana from here in available Indian Language :-

Claim Form of Scheme

  • In case of the death of an insured person, their nominee or legal heir will have to file a claim to get Rs. 2,00,000/- assistance under this scheme. Following are the sample Claim Form of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) in available Indian languages :-

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