Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana is a life insurance plan supported by the Government of India. It was launched in Kolkata on May 9, 2015, by Prime Minister Narendra Modi. Modi Government has also launched many of the other beneficial Schemes for the vindication of the people of our country which are Kaushal Vikas Pahal Yojana, and Pradhan Mantri Awas Yojana.
What is Pradhan Mantri Jeevan Jyoti Bima Yojana?
Prime Minister Narendra Modi has launched a number of ambitious social security programs. Prime Minister Jeevan Jyoti Bima Yojna (PMJJBY) is also one of them. It’s basically a term life insurance policy. This insurance policy is pretty much similar to the Atal Pension Yojana. It can be renewed on an annual basis or for a longer period. On the death of the policyholder, it will provide life insurance coverage to their family.
Details of the Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana will be made available to people of 18 to 50 years of age group. The concerned persons should have a bank account. Those who take this policy 50 years ago, they will get a cover of life insurance for 55 years. However, they will have to pay premium regularly to get this profit.
How to get enrolled in the PMJJBY?
- You can apply for an enrollment by visiting the bank where your savings account is being held.
- Under this, the bank will give you a form. Through which you will be insured for the premium, you will have to accept this in the bank form, that the amount of premium from your account will be deducted automatically.
- Banks will deduct a number of premiums from your account every year.
- Also, it is important that you always keep the minimum amount in the savings account according to the bank’s rules.
- You will not need an insurance company to apply for insurance.
What is the Premium?
The policyholder will have to pay 330 rupees annually. This amount will be deducted from their bank account every year. which is one time. This work will be done by the bank, where this policy will be started.
What is the Risk Coverage of the scheme?
The Risk coverage in the PMJJBY is of Rs. 2 lakhs. If the policy is taken for more than one year then the policy for which it has been taken for years, will be deducted from the respective bank account for that year.