Posted by CMV360 Editorial Staff on 10-Feb-2023 12:26 PM
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme launched by the Prime Minister of India, Narendra Modi, in 2015. The scheme is administered by the Ministry of Finance and is implemented through participating banks and insurance companies.
The main objective of PMJJBY is to provide life insurance coverage to individuals in the age group of 18-50 years at a very low cost. The annual premium for the scheme is only Rs. 330 per annum, which is less than $5. The scheme provides a life insurance cover of Rs. 2 lakhs to the enrolled individuals in case of death due to any reason.
To enroll in the scheme, individuals need to have a savings bank account with a participating bank. The premium for the scheme is automatically debited from the account on an annual basis. Individuals can also enroll in the scheme through the bank's mobile app or internet banking facility.
The scheme has been widely welcomed by the people of India as it provides life insurance coverage to a large number of individuals who otherwise would not have been able to afford it. The scheme is expected to provide a sense of financial security to the enrolled individuals and their families.
To apply for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), follow these steps:
Visit the official website of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) at https://pmjby.gov.in/
Click on the "Apply for PMJJBY" button on the homepage
Fill out the application form with the required personal and contact information, such as your name, address, and contact details
Provide your bank account details, including your account number, IFSC code, and bank branch name.
Submit the application form along with the required documents, such as a copy of your PAN card, Aadhaar card, and a passport-size photo.
After submitting the application, you will receive an acknowledgement receipt with a reference number. Keep this number safe for future reference.
Your application will be processed and you will receive a confirmation message on your registered mobile number and email ID.
The premium amount will be automatically debited from your bank account on a yearly basis on the due date.
Note: This scheme is available through different banks, and the process may vary from bank to bank. It is recommended that you check with your bank for the specific process to apply for the PMJJBY scheme.
In conclusion, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme that provides life insurance coverage to individuals in the age group of 18-50 years at a very low cost. The scheme is expected to provide financial security to the enrolled individuals and their families and is widely welcomed by the people of India.
1. What is the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?
PMJJBY is a government-backed life insurance scheme in India that provides coverage of Rs. 2 lakh in case of the policy holder's death due to any reason. It is available to individuals in the age group of 18-50 years.
2. How can I enroll for PMJJBY?
Individuals can enroll for PMJJBY by filling out a form at any participating bank or through the bank's official website. Enrollment can also be done through various insurance companies that have partnered with the government for PMJJBY.
3. What is the premium for PMJJBY?
The premium for PMJJBY is Rs. 330 per annum, which can be paid through the bank's auto-debit facility or by cash at the bank's branches.
4. What is the coverage provided under PMJJBY?
The coverage provided under PMJJBY is Rs. 2 lakh in case of death due to any reason.
5. Is there any age limit to enroll for PMJJBY?
Yes, the age limit to enroll for PMJJBY is between 18 and 50 years.
6. Is there any medical examination required for PMJJBY?
No, there is no medical examination required for PMJJBY.
7. What are the documents required to enroll for PMJJBY?
The documents required to enroll for PMJJBY are a government-issued ID, address proof and passport-size photographs.
8. Can I enroll for PMJJBY online?
Yes, you can enroll for PMJJBY online through the bank's official website or through the online portal of partnered insurance companies.
9. How do I make a claim under PMJJBY?
Claims under PMJJBY can be made by submitting the required documents to the bank or insurance company where the policy was taken. The death certificate and a copy of the policy are the main documents required to make a claim.
08-Jun-2023 10:57 AM
08-Jun-2023 09:30 AM