Pradhan Mantri Jeevan Jyoti Bima Yojana provides life insurance cover of ₹ 2 lakh for just ₹ 436 annually...

If you are looking for a security insurance option for your family at a very low premium, then Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) can be the best option for you. Through this scheme, you can get a life insurance cover of ₹ 2 lakh at an annual premium of only ₹ 436. Any citizen between the ages of 18 and 50 years can take advantage of this scheme, irrespective of their income group. Apart from this, it is also very easy to join it through a government bank or post office.

What is Pradhan Mantri Jeevan Jyoti Bima Yojana?

Pradhan Mantri Jeevan Jyoti Bima Yojana was started by the Central Government in 2015. It is for those people who usually stay away from insurance. The purpose of this scheme was that poor and needy families could also avail themselves of the benefits of life insurance. Under this government scheme, any Indian citizen can get a life cover of ₹ 2 lakh by paying only ₹ 436 annual premium.

Enrollment time

You get the benefit of this scheme 45 days after enrollment. However, to avail the benefits of PMJJBY, the applicant must have a bank account of his own. This bank account can be in a government or private bank.

What are the important points of the scheme?

1. Low premium, big cover: You can get a life insurance cover of ₹ 2 lakh for only ₹ 436 annually.

2. Age limit: People aged 18 to 50 years can join this scheme.

3. For all sections: It has started to provide safety to everyone, from the poor to the middle class.

4. Benefit to the nominee: On the death of the policyholder, his nominee can get ₹ 2 lakh.

5. Claim on both natural and accidental causes: Whether the death is due to illness or accident, money can be received in both situations.

Pradhan Mantri Jeevan Jyoti Bima Yojana: Eligibility and Premium

To avail the benefits of this scheme, the age of the applicant should be between 18 and 50 years. Along with this, his bank account should be linked to the Aadhar card, and it is also necessary to allow auto-debit. Always remember that a person can take only one policy under this scheme.

As far as the premium is concerned, this scheme provides life insurance cover from 1 June to 31 May every year. Yes, the annual premium of ₹436 of this scheme is deducted from your account through auto debit before 31 May, so that your policy can be renewed on time. (Note- The news is based on general information. Before investing, get all the information about this scheme from an expert or a bank.

FAQ
Q1. What is Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?

Ans: This is a government life insurance scheme in which a life cover of ₹2 lakh is available on an annual premium of ₹436.

Q2. Who can take advantage of this scheme?

Ans: Any Indian citizen between the ages of 18 and 50 years, irrespective of their income group, can join this scheme.

Q3. What documents are required to join PMJJBY?

Ans: Saving account in a bank or post office, Aadhar card, and Auto-debit permission are required.

Q4. What benefits will be received if the policyholder dies?

Ans: In case of death of the policyholder, an amount of ₹2 lakh is given to the nominee.

Q5. How can one join Pradhan Mantri Jeevan Jyoti Bima Yojana?

Ans: You can easily join this scheme by filling the form through any government bank or post office and paying ₹436 premium.

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