Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is an insurance scheme offering life insurance cover for death due to any reason. Under this scheme, the coverage is applicable for one-year from 1st June to 31st May next year and can be renewed on a yearly basis. Subscriber can join the scheme anytime in this period and give consent for auto debit of pro-rata premium. This scheme is offered and administered by Bandhan Life Insurance Limited where Bandhan Bank is acting as Master Policy Holder.
Our services will include:
- Registration of customer under PMJJBY
- Processing of Claim(s)
- Processing of service request(s)
Features:
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Life cover of ₹2 lakh is payable to the nominee on member’s death due to any reason
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Life cover is valid for one year (June 1 to May 31) and is renewable annually
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Easy enrolment at any Bandhan Bank branch
Eligibility:
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Minimum age at entry: 18 years (completed); Maximum age at entry: 50 years (age nearer birthday) who give their consent to join and enable auto-debit will be enrolled on Pradhan Mantri Jeevan Jyoti Bima Yojana offered by Bandhan Life Insurance.
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All individual account holders having a Bank account subject to consent to join, enable auto-debit facility
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The insurance cover shall be for one-year period (1st June to 31st May) for which the below mentioned premium will be collected from the member’s Bandhan Bank savings account.
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Delayed enrolment for prospective cover is possible with payment of pro-rata premium as described below
Premium payable & Administrative expense:
| Appropriation of Premium Where: | Full Annual Premium of ₹436 collected | ₹342 collected in the 2nd quarter of risk Period | ₹228 collected in the 3rd quarter of risk period | ₹114 is collected in the 4th quarter of risk period |
|---|---|---|---|---|
| Insurance Premium to LIC/ Insurance Company | ₹395 | ₹309 | ₹206 | ₹103 |
| Commission payable to Business Correspondents, agents, etc. (For new enrolments only) | ₹30 | ₹22.50 | ₹15 | ₹7.50 |
| Administrative expenses payable to participating Bank | ₹11 | ₹10.50 | ₹7 | ₹3.50 |
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For application form for Pradhan Mantri Jeevan Jyoti Bima Yojana, click here
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Rules for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), click here
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Frequently asked questions on Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), click here
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Claim form for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), click here
For further details, please visit: https://jansuraksha.gov.in/
