PM Jeevan Jyoti Bima Yojana | PMJJBY Scheme Application, Eligibility, Benefits

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PM Jeevan Jyoti Bima Yojana | PMJJBY Scheme Application, Eligibility, Benefits: PM Jeevan Jyoti Bima Yojana is an insurance scheme Launched by the Prime Minister of India, Narendra Modi. And Organized by LIC and other Life Insurance Companies. Through the PM Jeevan Jyoti Bima Yojana, the insurance amount will be provided to the Nominee stated by the policyholders.

These Insurance Companies will tie up with the banks. The persons in the age group of 18-50 years (life cover will be up to 55 years) and with a savings bank account are allowed the benefits of the Pradhan Mantri Jeevan Jyoti Bima Scheme. The person should pay the annual premium of Rs.330 and it is renewable every year. The claimed amount will be Rs. 2,00,000.

PM Jeevan Jyoti Bima Yojana – Complete Details

PMJJBY Premium Break-up

• The annual premium amount for the insurance company will be Rs.289 for a person.
• The annual reimbursement of the expenses for the agent or bank is Rs.30 for a person.
• The annual reimbursement of the administrative costs for the listed bank is Rs.11 for a person.

PMJJBY Eligibility Guidelines

• The person with age 18-50 years and having a savings account are eligible for the PM Jeevan Jyoti Bima Yojana.
• The candidates can enter into the Scheme only with one saving account irrespective of their other bank accounts.
• The candidate’s bank account must be linked with their Aadhaar card.
• A medical certificate will be necessary for the proof.

Pradhan Mantri Jeevan Jyoti Bhima Yojana Benefits

• If the policyholder dies for any reason, the beneficiary will get the coverage amount of Rs.2,00,000.
• The Pradhan Mantri Jeevan Jyoti Bhima Yojana doesn’t have any maturity period or surrender period.
• According to section 80C of the Income Tax Act, the premium amount paid for the policy will be qualified for tax benefits.
• The Pradhan Mantri Jeevan Jyoti Bhima Yojana is a policy that will renew every year and also issued 1-year risk coverage.

How to Register for PM Jeevan Jyoti Bima Yojana?

• The PM Jeevan Jyoti Bima Yojana is organized with the LIC and other Life Insurance Companies in the country
• A person can approach their bank Officials if it is tied up with any insurance companies for the process of registration.
• If the person has many bank accounts then they can enter the PM Jeevan Jyoti Bima Yojana only with one bank account
• Candidates can renew their plan with a full premium at any time in the year.
• The renewal date for all the subscribers is 1st June.
• If any person quits the scheme for any reason, they can have a chance to enter again into the scheme with the payment of an annual premium.

Hope you have checked all the details given about the Latest PM Jeevan Jyoti Bima Yojana. To get notified about Various Other Government Schemes, always check Freshers Now.