On June 1, 2015, an insurance scheme was announced by Prime Minister Narendra Modi in the name of “Pradhan Mantri Jeevan Jyoti Bima Yojana“, in which the insurance holder can take an insurance of 2 lakhs by paying only Rs. 436 annually. That is, in case of death of the insurance holder before the age of 55 due to any reason, the nominee is given a help of Rs 2 lakh.
What is PMJJBY objective
Nowadays life insurance companies bring insurance of different amounts like 5 lakh, 10 lakh, 20 lakh, 50 lakh. The higher the insurance coverage of all these, the more expensive the premium, which goes beyond the reach of the lower income groups. People who start earning high income in government or private companies, they get such expensive insurance.
But for the general public, BPL card holders, low income group, bonded laborers, masons, laborers, farmers and workers in the unorganized sector, there is no such insurance anywhere that these people can get done according to their capacity. It is not that all these people do not think about the economic security of their family after their death, the truth is that no one has anything to do with their economic security.
What is PMJJBY?
Now there is no need to worry, I want to thank the central government that at least they have taken into consideration the economic issues of such people and their families. On June 1, 2015, the central Modi government announced an insurance scheme for the backward and poor people by the name of “Pradhan Mantri Jeevan Jyoti Bima Yojana”.
In this insurance scheme, the insurance holder will be able to get a cover of up to Rs. 2 lakh by paying only Rs. 436 annually, that is, if the insurance holder dies before the age of 55 years, then the family will get an insurance amount of Rs. 2 lakh. If you want to get this insurance done today itself, then take proper information till the end, at the end the process of applying online has been given.
Pradhan Mantri Jeevan Jyoti Bima Yojana 2023 Overview
| Scheme Name | Pradhan Mantri Jeevan Jyoti Bima Yojana 2023 |
| Starting Date | 1 June, 2015 |
| Premium Amount | 436 Rs Yearly (From 1 June 2022) |
| Eligibility Age | 18 years to 50 years (Insured persons) |
| Coverage Period | 1 June to 31 May |
| Coverage Amount | 2 Lakh |
| Maturity Age | 55 Years (Insured person) |
| Maturity Benefit/Surrender Value | Nothing |
| Lein Period | 30 Days |
| Category | Government Schemes |
| Toll-free Number | 1800-180-1111 1800-11-0001 |
| Official Website | https://jansuraksha.gov.in/ |
Pradhan Mantri Jeevan Jyoti Bima Yojana Benefits
- Insurance cover will be for 1 year (1st June to 31st May)
- Whenever we pay the premium, we get insurance cover for the next year i.e. if I have paid the premium on 31st May 2022, then the insurance cover will be from 1st June 2022 to 31st May 2023.
- The premium is deducted from your savings bank account through Auto Debit facility.
- Every year between May 25 and May 31, the premium will be deducted from the savings account.
- By paying premium year after year in this insurance scheme, insurance cover is available till the age of 55 years.
- No medical certificate is required
- The policyholder can opt out of the plan at his own will and can re-enter it in future
Pradhan Mantri Jeevan Jyoti Bima Yojana Features
PMJJBY Premium: The annual premium is Rs 436, which is less than Rs 1.20 a month
| Monthly Enrollment | Annual Premium |
|---|---|
| June, July or August | Rs 436 |
| September, October or November | Rs 342 |
| December, January or February | Rs 228 |
| March, April or May | Rs 114 |
Post Death Benefit: Irrespective of the cause of death, Rs 2 lakh is given to your Nominee on making a claim.
Tax Exemption: Like PMJJBY scheme, the amount of insurance is tax exempted under Income Tax Act 80C.
Maturity Amount: On maturity of this insurance scheme, no maturity amount / Maturity Amount / Surrender Value is received by the insurance holder.
Lien Period: There is a lien period of 30 days in this insurance during which you will get insurance cover only on accidental death. After the lien period of 30 days, all types of death insurance cover will be available.
Premium Paying Term: The insured has to pay premium annually till the age of 55. A person above 50 years of age cannot take advantage of this insurance scheme.
Pradhan Mantri Jeevan Jyoti Bima Yojana Eligibility
- Must have a savings account in any one bank
- Minimum age of the insured above 18 years
- The maximum age of the insured should be below 50 years
Pradhan Mantri Jeevan Jyoti Bima Yojana Documents
- Aadhar Card or PAN Card or MGNREGA Card or Voter Card
- Application Form must be duly filled
Note: Name of the Nominee or Nominee has to be given in the Application Form and the name of an Appointee is also to be given so that if they go to claim the insurance and the Nominee is found to be a minor then the Appointee will be able to claim easily.
Cover Period of Insurance May be Canceled
Insurance can be canceled in the following cases,
- When the age of the insured is above 55 years
- closure of bank savings account
- Insufficiency of premium in the account
- If insurance cover is available in more than one account, all others will be closed and only one will be kept active.
Pradhan Mantri Jeevan Jyoti Bima Yojana Apply Online | PMJJBY Apply Online
Nowadays all the banks are opening Pradhan Mantri Jeevan Jyoti Bima Yojana account through their online net banking facility.
- First go to the login page of your bank’s net banking.
- Then “Social Security” or “Govt. Go to the “Schemes” section.
- A page with “Form” will appear.
In that, the insured should give the details of his/her nominee or Nominee, Appointee and click “OK”.
- There will be online “Verification” of the documents given along with your application.
- After “Verification”, an “ACKNOWLEDGEMENT SLIP CUM CERTIFICATE OF INSURANCE” will be received, download it and keep it carefully, it will be useful while making a claim.
Pradhan Mantri Jeevan Jyoti Bima Yojana OFFLINE Apply | PMJJBY Offline Apply
- You must first go to the bank or insurance company that insures under Pradhan Mantri Jeevan Jyoti Bima Yojana
- There the Application Form will be given (or you can also download it by clicking on the link)
- In that form, the insured has to fill the details of his, nominated or Nominee, Appointee and attach the necessary documents.
- After depositing the premium of Rs.436 in the bank, after 30 days, cover will be available on all types of death.
- Bankers will give you “ACKNOWLEDGEMENT SLIP CUM CERTIFICATE OF INSURANCE” keep it carefully it will be useful in future while claiming
Pradhan Mantri Jeevan Jyoti Bima Yojana Claim | Claim PMJJBY
Keep in Mind:
- Your claim should go to the bank or insurance company within 30 days of the death of the insured
- In case of death of the insured, the nominee should file PMJJBY Claim
- If the nominee is found to be a minor at the time of PMJJBY Claim, then PMJJBY Claim should be filed by the Appointee.
- It is mandatory to fill the PMJJBY Claim cum Discharge Form along with the following documents,
- After knowing the veracity of all the documents, the bank or insurance company will give you advance discharge paper “Advance receipt for discharge of claim”.
- Within 30 days, the claim amount comes to the bank account.
PMJJBY Claim Document
Due to Any Other Cause of Death
- Death Certificate Or Hospital Discharge Paper (name, address, cause of death) Or A Special Form verified by Magistrate or commissioner
- Copy of Aadhaar Card or Pan Card (If Applicable)
- Advance receipt for discharge of claim
Accidental Death
- Death Certificate Or Hospital Discharge Paper (name, address, cause of death) Or A Special Form verified by Magistrate or commissioner
- FIR copy or Panchnama
- Post Mortem Report
- Copy of Aadhaar Card or Pan Card (If Applicable)
- Advance receipt for discharge of claim
If the Claimant Nominee is Major
- All of the above documents
- Nominee’s Bank Passbook Xerox
- Aadhaar Card of Nominee
If the Claimant Nominee is a Minor then Appointee is Needed
- All of the above documents
- Appointee’s Bank Passbook Xerox
- Aadhaar Card of Appointee
Nominee passes away before Insured then a legal Heir is Required
- All of the above documents
- Documents of Legal Heir
- Xerox of Bank Passbook (of legal hair)
- Aadhar Card (Legal Hair)
Official Information 2023
| PM Jeevan Jyoti Bima Yojana Form | CLAIM-CUM-DISCHARGE FORM |
| Application Form PMJJBY | (CONSENT-CUM-DECLARATION FORM) |
| PM Jeevan Jyoti Yojana PDF Download | Rules for PMJJBY – English |
| Toll Free Numbers as Per States | PDF Download |