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PMJJBY

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme designed to provide affordable life coverage to individuals in the age group of 18 to 50 years. With a low premium and comprehensive benefits, PMJJBY offers financial security to your loved ones in the event of your unfortunate demise.

Key features of PMJJBY include:
• Affordable Premium: Pay just a minimal annual premium, making it accessible to a wide range of individuals.
• Life Cover: Get a life cover of ₹2 lakhs, ensuring that your family is financially supported in case of your untimely death.
• Easy Enrollment: Simple and hassle-free enrollment process through your bank, with auto-debit facility for premium payments.
• Eligibility: Open to all individuals between the ages of 18 and 50 years, with a basic savings account.
• Renewable Scheme: The policy is renewable every year, giving you continuous life coverage.

PMJJBY is an ideal choice for individuals looking for a low-cost life insurance solution that provides peace of mind and financial security for their families.

Overview

  • One year Life insurance scheme.
  • Auto renewed every year.
  • Offering coverage for death due to any reason.

Eligibility

  • Anyone of age between 18 and 50 years can join the scheme through a Savings bank account.
  • Could be renewed till attaining 55 yrs of age.

Features

  • The scheme offers a sum assured of Rs. 2 lakh on death of the insured member due to any reason at an annual premium of Rs. 436/-
  • From date of joining to the following 31st May
  • Amount will be automatically debited from the SB account between 20th to 31st May.
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