Jeevan Jyoti Bima Yojana: Benefits, Renewal & Claim Process

The Central Government launched the Pradhan Mantri Jeevan Jyoti Bima Yojana on May 9, 2015, to give the policy’s advantages to the country’s population. Life Insurance Corporation of India and other private insurance companies are offering the scheme through public and private sector banks. If persons who participate in this scheme die before they reach the age of 55 for any reason, their family nominee would receive Rs. 2 lakhs in life insurance from the government under PMJJBY. Provided (Under this arrangement, his government will provide his family nominee with a life insurance policy of 2 lakh rupees).

Understanding Jeevan Jyoti Bima Yojana: A Comprehensive Guide

People between the ages of 18 and 50 who have a bank account and agree to join/allow auto-debit are eligible for the PMJJBY. The primary KYC for the bank account would be Aadhar. The Rs. 2 lakh life insurance policy will be valid for a year, from June 1 to May 31, and will be renewed.

This policy provides risk coverage of Rs. 2 lakhs in the event of the insured’s death for any reason. The annual premium is Rs. 330, which is auto-debited in one instalment from the subscriber’s bank account on or before the 31st of May of each annual coverage term under the scheme, as per his option. The programme is being provided by Life Insurance Corporation and any other life insurers willing to offer the product on comparable conditions with the relevant approvals and bank partnerships.

PMJJBY Highlights

Pradhan Mantri’s Jeevan Jyoti Bima Yojana Objectives

Those who have a family after they retire from social security would like to have a suitable plan in place for them.

Under the PM Jeevan Jyoti Insurance Scheme, if the policyholder dies between the ages of 18 and 50, the government will pay the policyholder’s family Rs 2 lakh. So that he might have a happy life. Indian people must be covered by PMJJBY under this arrangement. Not just the poor and disadvantaged will be covered under this scheme.

Pradhan Mantri Bima Yojana Benefits

• This scheme is available to citizens aged 18 to 50 in the country.
• After the policyholder’s death, the policyholder’s family can renew PMJJBY year after year under this arrangement. A 330-rupee annual premium is required of members of this plan. A two-lakh-rupee life insurance policy will be offered.
• The applicant must apply under this plan in order to benefit from PMJJBY.
• During each annual coverage term, the annual instalment under this plan is paid before the 31st of May.
• If the yearly instalment could not be made before this date, the policy can be renewed by paying the entire annual premium in one single sum and self-declaring good health.

Some of the features of Prime Minister Narendra Modi’s Jeevan Jyoti Bima Yojana

• To purchase Pradhan Mantri, you do not need to pass any type of medical examination. Jeevan Jyoti Bima Yojana (Jeevan Jyoti Bima Yojana) is a scheme that aims
• You must be between the ages of 18 and 50 to purchase the PM Jeevan Jyoti Bima Yojana.
• PMJJBY has reached maturity at the age of 55.
• Every year, this programme must be renewed.
• This programme ensures an amount of $200,000.00.
• The Pradhan Mantri Jeevan Jyoti Bima Yojana is open for enrolment from June 1 to May 31.
• For the first 45 days after receiving Android, you are unable to make a claim. After 45 days, you can file a claim.

Pradhan Mantri Jeevan Jyoti Bima Yojana Eligibility

• Citizens applying for insurance under this scheme should be between the ages of 18 and 50.
• The policyholder will be required to pay a yearly premium of Rs 330 under this tram plan.
• The policyholder must have a bank account to participate in this scheme. Because the government will instantly deposit the funds into the beneficiary’s bank account.
• Every year, on or before May 31st, the subscriber must maintain the required balance in his or her bank account at the time of auto debit.

Jeevan Jyoti Bima Yojana documents

• applicant’s Aadhar card
• identity card
• Passbook for a bank account
• cell phone number
• A passport-sized photograph

What is the Pradhan Mantri Jeevan Jyoti Bima Yojana and how can I apply for it?

Beneficiaries of the country who are interested in applying for the Jeevan Jyoti Bima Yojana should follow the steps outlined below.

• To begin, go to the Department of Public Safety’s official website.
• You must visit the official website to download the PMJJBY Application Form PDF. After you’ve downloaded the PDF, you’ll need to complete the form with all of the requested information.
• After you’ve filled out all of the forms, you’ll need to deposit them in the bank where your active savings account will be established.
• You must be certain. That you have enough money in your account to cover the premium.
• After that, submit a consent letter to join the scheme and have the premium money deducted automatically. With the duly completed application form, attach the consent agreement.
• The Pradhan Mantri Jeevan Jyoti Bima Yojana Application Form or Consent-cum-Declaration Form can be downloaded in the appropriate language from the official website at the URL provided below. Huh.

Amount of PMJJBY premium

The policyholder will be required to pay a yearly premium of Rs 330 under this plan. Which will be deducted automatically from the customer’s savings account every year in May. Under this system, residents from practically all income classes, including EWS and BPL, can pay a low price. Available | Insurance coverage under the Pradhan Mantri Jeevan Jyoti Bima Yojana will begin on June 1st and last until May 31st of the following year. In order to get insurance in PMJJBY, no medical examination is required.

• LIC/Insurance company insurance premium – Rs 289/-
• Expenses reimbursement for BC/Micro/Corporate/Agent – Rs.30/-
• Reimbursement of Participating Bank’s Administrative Fee – Rs.11/-
• Total Premium – Rs 330/-

In the 2020-21 fiscal year, 2,50,351 death claims were received.

As you are all aware, the Pradhan Mantri Jeevan Jyoti Bima Yojana provides an amount insured of Rs 200000 to the family in the event of the insured person’s death owing to any reason. The central government has accepted 2,34,905 death claims under this scheme in the fiscal year 2020-21. The families of the deceased have been compensated with Rs 4698.10 crore. This is the highest figure in the last five years. Under the Right to Information Act, Neemuch’s RTI activist Chandrashekhar Gond was able to collect this information. In the fiscal year 2020-21, this plan received 2,50,351 death claims, of which 13100 were rejected and another 2346 are being considered.

Death claims received in the last 5 years

Payments to citizens (56716)

The Pradhan Mantri Jeevan Jyoti Bima Yojana can only be used with a bank account. If a person withdraws from this plan, he can reapply for benefits in the future by paying the annual premium and submitting a self-certification of good health. In the fiscal year 2020-21, death claims totalling Rs 1134 crore were paid to 56716 citizens under the scheme. Coronavirus infection has resulted in an increase in death rates. As a result, the claim payment under this system has also increased. Deaths caused by the coronavirus have accounted for half of the claims. Until the end of the fiscal year 2021, 102.7 million persons are registered under the programme.

Learn why your account has been debited by INR 330.

Banks have deducted 330 from the accounts of several citizens. This debit was made in May from the accounts of persons who have registered for the Pradhan Mantri Jeevan Jyoti Bima Yojana. Every year on the 1st of June, the programme is renewed, and the renewal premium is debited by the banks in the month of May. If the beneficiary has multiple accounts and the premium amount has been debited from many accounts, you may request a reimbursement from your bank. This scheme’s benefit is available for a year.

• If the beneficiary wants to continue receiving benefits from this scheme after one year, they must renew their membership. Citizens between the ages of 18 and 50 who have a savings account can profit from this scheme.
• It will be necessary to use the auto debit option in order to benefit from this scheme. The Pradhan Mantri Jeevan Jyoti Bima Yojana runs from June 1 to May 31.
• Banks may also send reminders to customers via SMS or email. This is why a reminder is being issued. Because this technique allows for auto debit renewal. The account holder must ensure that the sum of 330 is available in his account within the specified time frame.

PMAY-G Pradhan Mantri Gramin Awas Yojana List 2021 | pmayg.nic.in

If Someone died as a result of a covid infection, they can take benefit of the scheme if they meet the following criteria.

A life insurance scheme is the Pradhan Mantri Jeevan Jyoti Bima Yojana. When the nominee dies, a sum of $20,000 is paid to him or her. Citizens whose family members died as a result of the coronavirus or for any other reason and who were enrolled under this plan are eligible to receive the sum insured up to 200000. Only if the insurance holder buys the coverage in 2020-21 would he be able to take benefit of this programme.

This coverage can be purchased at any age between the ages of 18 and 55. It is necessary to have a savings bank account and consent to auto-debit of the savings bank account in order to benefit from the Pradhan Mantri Jeevan Jyoti Bima Yojana. A 330-per-year premium is required to receive the benefits of this scheme.

Only after 45 days will risk coverage be available.

Citizens who want to benefit from the Pradhan Mantri Jeevan Jyoti Bima Yojana should check the eligibility requirements before applying. You do not need to reapply each year if you are already enrolled in this programme. Your premium will be debited from your bank account every year, and you will be renewed. This programme is only available to new buyers for the first 45 days after enrolment. Only after the 45-day period has passed may a claim be filed. The corporation will not resolve any claims within the first 45 days. However, if the applicant’s death was caused by an accident, the payout will be made.

Pradhan Mantri Jeevan Jyoti Bima Yojana Statistics

The exit of the Pradhan Mantri Jeevan Jyoti Bima Yojana

Anyone who has previously participated in the Pradhan Mantri Jeevan Jyoti Bima Yojana is eligible to participate again. The premium amount must be paid and a health-related self-declaration must be completed to rejoin the Pradhan Mantri Jeevan Jyoti Bima Yojana. By paying the premium and completing a self-declaration, anyone can re-enrol in this plan.

In what conditions would this scheme’s benefit not be provided?

• If the bank account of the beneficiary has been closed.
• In the event that the premium amount is not available in the bank account.
• When you reach the age of 55.

Pradhan Mantri Jan Dhan Yojana Online Apply – pmjdy.gov.in

PM Bima Jeevan Jyoti Termination of the Yojana

The member’s life guarantee can be revoked for any of the reasons listed below.

• In the event that your bank account is closed.
• In the event that the premium amount is not available in the bank account.
• When you reach the age of 55.
• Only one insurance firm or bank can offer the Pradhan Mantri Jeevan Jyoti Bima Yojana to a person.

56716 persons had their claims settled by the government.

As you are aware, Pradhan Mantri Jeevan Jyoti Bima Yojana provides insurance coverage to the country’s residents. The citizens of the country must pay a premium of 330 each year for this. If a person who has registered for this scheme dies, the nominee receives a cash help of USD 200000. The government has paid a death claim of Rs 1134 crore under this scheme in the financial year 2020. This payment was given to 56716 individuals. All of these citizens have received financial aid ranging up to 200000. As a result of the coronavirus pandemic, term insurance claims have soared. More than half of all death claims have been paid owing to death caused by terrorism.

Pradhan Mantri Awas Yojana Online Apply | Home Loan, Eligibility, Subsidy Benefits | pmaymis.gov.in

To make a claim on the Prime Life Jyoti insurance scheme?

• After the insured person’s death, his nominee can file a claim under the Pradhan Mantri Jeevan Jyoti Bima Yojana.
• Following that, the policyholder’s nominee should first contact the bank.
• The nominee must next go to the bank and obtain the Pradhan Mantri Jeevan Jyoti Insurance Claim Form and Discharge Receipt.
• The nominee must next submit a claim form and a discharge receipt form, as well as photos of the death certificate and a cancelled check.

Toll-free numbers per state are available for download.

• To begin, go to the Department of Public Safety’s official website.
• The home page will now appear in your browser.
• You must click on the contact link on the home page.
• Now a new page will appear in front of you, with the state-by-state toll-free number pdf.
• This PDF can be used to look for toll-free numbers by state.

Helpline Number

In this post, we’ve covered all you need to know about the Pradhan Mantri Jeevan Jyoti Bima Yojana. If you still have issues, you can reach out to the Pradhan Mantri Jeevan Jyoti Bima Yojana helpline.

• 18001801111
• 1800110001