Pradhan Mantri Jeevan Jyoti Bima Yojana – How To Apply and all other Details

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Pradhan Mantri Jeevan Jyoti Bima Yoajna

Life Insurance is very important in one’s life. Life is very uncertain and so insurance is much needed, not just for ourselves but also for our family and dear ones. But not all can afford it. So, the Government of India is coming up with affordable Insurance schemes to help the poor and the needy. One such scheme is the Pradhan Mantri Jeevan Jyoti Bima Yoajna 2020. The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme valid for one year and is renewable from year to year, offering coverage for death. Here, we have for you all the details about this scheme, How To Apply, the Benefits of the Scheme, What Documents are required to apply? Everything!

What is Pradhan Mantri Jeevan Jyoti Bima Yoajna?

The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme. Actually, it is a life cover that covers any uncertainty and it is valid for one year and it has to be renewed from year to year. The Pradhan Mantri Jeevan Jyoti Bima Yojana 2020 is a Central Government scheme and it has launched on the 9th of May 2015. This PM Jeevan Jyoti Bima Yojana 2020 is a Life Insurence Scheme. If any person has enrolled in this scheme and unfortunately he/she dies till the age of 55, the nominee of the family will get life insurance of Rs 2 lakhs from the Prime Minister Jeevan Jyoti Bima Yojana. This life cover of Rs. 2 lakhs is available under the PMJJBY scheme, at a premium of just Rs.330 per annum per member. Here are some more details about it.

Pradhan Mantri Jeevan Jyoti Bima Yoajna Eligibility Criteria 

  • Any person who is between 18- 50 years old and has a savings account can enroll for this scheme through the participating banks.
  • One can join this scheme with only one saving bank account even if they have multiple bank accounts
  • To avail of the benefits offered by this policy, it is mandatory to link your Aadhar card to the eligible/participatory bank account.
  • Insurance buyers who join the scheme after the initial enrolment period, i.e., from the 31st of August 2015- the 30th of November 2015, must produce a self-attested medical certificate proving that he/she is not suffering from any critical illness as mentioned in the policy declaration form.

How To Apply in Pradhan Mantri Jeevan Jyoti Bima Yoajna?

  • First of all, you have to visit the official website which is jansuraksha.gov.in
  • Download the Pradhan Mantri Jeevan Jyoti Bima Yojana Application Form
  • Fill all the necessary details without any error
  • After filling the details, you have to deposit in the bank where your active saving bank account will be opened
  • Post that, submit a consent letter to join the scheme and auto-debit of the consent letter and premium amount
  • Finally, Attach the consent document with the duly filled application form.

Also Check: Pradhan Mantri Ayushman Bharat Yojana Details

Documents Required for Pradhan Mantri Jeevan Jyoti Bima Yoajna

  • Passport Size Photo
  • Adhaar card
  • Bank Account
  • Identity and Address Proof
  • Mobile Number

In Case of Claim Settlement, Steps to be taken by the Nominee:

  • The nominee has to approach the bank where the member has the ‘savings bank account’ through which he/she was associated with PMJJBY. The nominee should have the death certificate of the member.
  • Next, the nominee needs to collect the claim form and discharge receipt from the bank or any other designated source like insurance company branches, hospitals, insurance agents, etc.
  • Submit the duly filled claim form, death certificate, and discharge receipt along with a xerox copy of the canceled cheque of the nominee’s bank account(if available) or the bank account details to the bank wherein the member was having the ‘savings bank account’ of PMJJBY.

Benefits of Pradhan Mantri Jeevan Jyoti Bima Yoajna

  • PMJJBY provides a death coverage of Rs. 2 lakhs to the beneficiary of the policy in the case of the sudden demise of the insured person.
  • As PMJJBY is a pure term insurance plan, it does not offer any maturity or surrender benefit.
  • The premium paid towards the policy is eligible for tax benefits as under section 80C of the Income Tax Act.
  • PMJJBY provides a risk coverage of 1 year. However, as this is a renewable policy, it can be renewed yearly.

This was all about the Pradhan Mantri Jeevan Jyoti Bima Yoajna 2020. We have explained to you about this Insurance Scheme, its Eligibility, How To Apply, Documents required, its benefits, and all other information. We hope it will be beneficial to you. If you have any queries, leave them in the comments section below.

Pradhan Mantri Jeevan Jyoti Bima Yoajna Application Form:

You can download the Application for PMJJBY Scheme: ApplicationForm

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