Pradhan Mantri Jeevan Jyoti Bima Yojana Benefits, Documents, Eligibility & Premium Amount

PM Jeevan Jyoti Bima Yojana: In India, the Pradhan Mantri Jeevan Jyoti Bima Yojana (Prime Minister Jeevan Jyoti Insurance Scheme) is a life insurance program supported by the Narendra Modi government. It was initially referenced in the year 2015 Financial plan discourse by the then-Finance minister, late Arun Jaitley in February 2015. Prime Minister Narendra Modi officially unveiled it on May 9 in Kolkata. This program aims to increase the number of people who have insurance—as of May 2015, only 20% of India’s population had any type of coverage.

Pradhan Mantri Jeevan Jyoti Bima Yojana

Anyone between the ages of 18 and 50 who has a bank account is eligible to participate in the Pradhan Mantri Jeevan Jyoti Bima Yojana. The annual cost is Rs436, or $5.50 USD. The GST is absolved on Pradhan Mantri Jeevan Jyoti Bima Yojana. On or before May 31 of each year, the amount will be deducted from the account automatically. Those who sign up for the auto debit facility will have their insurance coverage automatically renewed for up to 55 years, or from June 1 through May 31.

Pradhan Mantri Jeevan Jyoti Bima Yojana Benefits, Documents, Eligibility & Premium Amount
Pradhan Mantri Jeevan Jyoti Bima Yojana Benefits, Documents, Eligibility & Premium Amount

However, no one over the age of 50 can sign up for this program. Participation in this program does not require the submission of a certificate or health report. In the event of death because of any reason, the installment to the chosen one will be ₹2 lakh (US$2,500). It is necessary to link your Aadhaar Card to the participatory bank account in order to take advantage of the benefits provided by the Pradhan Mantri Jeevan Jyoti Bima Yojana policy.

Pradhan Mantri Jeevan Jyoti Bima Yojana Overview

The bank accounts established under the Pradhan Mantri Jan Dhan Yojana program will also be linked to this scheme. The majority of these accounts started out with zero balance. Through this and related programs, the government aims to reduce the number of accounts with zero balance.

योजना नाम प्रधानमंत्री जीवन ज्योति बीमा योजना – PMJJBY
योजना का शुभारम्भ प्रधानमंत्री नरेंद्र मोदी जी द्वारा
योजना शुरू होने की तिथि 9 मई 2015
वर्तमान साल 2022
लाभ लेने वाले देश के सभी नागरिक
उद्देश्य नागरिकों को जीवन बीमा प्रदान करना
योजना श्रेणी केंद्र सरकारी योजना
आधिकारिक वेबसाइट jansuraksha.gov.in

 

PM Jeevan Jyoti Bima Scheme 2023 Overview

This service is now available to all bank account holders at any time of the year by filling out a form at the bank branch or through their net-banking service. The insured’s bank account is automatically credited with the premium. After the insured passes away, the insured’s family will receive a sum insured of 2 lakh. 5.92 crore (59.2 million) people have already signed up for this program as of March 31, 2019. 1,35,212 claims have been paid out, totaling 2,704.22 crore rupees.

Objective of Jeevan Jyoti Bima Yojana 2023

Under this scheme, After the death of the policy holders, their family members will be provided with a security under the plan so that they do not have to face any kind of problems. Indian Citizens will have to deposit a contribution of Rs 330 on an annual basis to get the benefit of this insurance amount, after which they can get the benefit of insurance assistance amount.

Premium amount of PMJJBY 

Under PM Jeevan Jyoti Bima Yojana, the insured will have to deposit an insurance premium of Rs 330 every year. This insurance premium is automatically deducted from your account in the month of May every year.

Benefits of PM Jeevan Jyoti BIM Yojana

  1. Under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Citizens of 18 to 50 years of age can take advantage.
  2. Under this Scheme, After the death of the insured, Rs 2 lakh will be given to the nominee made by him.
  3. Under Pradhan Mantri Jeevan Jyoti Bima, the claim amount will be given only to the person nominated by the policyholder.
  4. Annual premium under this plan is to be paid before 31st May during each annual coverage period.

Eligibility of PM Insurance Scheme 2023

  1. Under this scheme, the age of the citizens taking the policy should be 18 to 50 years only.
  2. All the people of the country can apply under PM Jeevan Jyoti Bima.
  3. Policy holder will have to pay a premium of Rs.330 per annum.
  4. Beneficiary to have his own savings account in the bank.

Documents of Jeevan Jyoti Bima Scheme 2023

The documents required for the PM Jeevan Jyoti Bima Yojana are as follows:

  1. Aadhaar Card of the applicant
  2. Identity card
  3. Bank account passbook
  4. Mobile number
  5. Passport size photo

How to claim for Pradhanmantri Jeevan Jyoti Bima Yojana?

  1. After the death of the person who has been insured, his nominee can claim under Jeevan Jyoti Bima Yojana.
  2. After this, first the nominee of the policy holder should contact the bank.
  3. Then the nominee will have to collect the PM Jeevan Jyoti Bima Claim Form and Discharge Receipt from the bank.
  4. Then the nominee needs to submit the claim form and discharge receipt form along with the photographs of death certificate and canceled cheque.

Pradhan Mantri Jeevan Jyoti Bima Yojana: Helpline Number

If you are facing any problem then you by contacting Pradhan Mantri Jeevan Jyoti Bima Yojana helpline number. The helpline number is 18001801111 / 1800110001.

PM Jeevan Jyoti Bima Yojana FAQs

What is Pradhan Mantri Jeevan Jyoti Bima Yojana?

Pradhan Mantri Jeevan Jyoti Bima Yojana is a type of policy which is renewed every year and if the policy holder dies due to any reason, his family members are given a claim by the insurance company under the scheme.

What will be the premium amount under PMJJBY?

The premium amount of PMJJBY is Rs 330. This insurance premium will be auto-debited automatically from your bank account in the month of May every year.

By whom is PM Jeevan Jyoti Insurance managed?

PM Jeevan Jyoti Bima is operated by Life Insurance Corporation and other insurance company.

What age the maturity rate of Jeevan Jyoti insurance policy has been fixed?

The maturity rate of Jeevan Jyoti insurance policy has been fixed till the age of 55 years.

What is the age limit of the applicant to become a beneficiary of PM Jeevan Jyoti Bima scheme?

To become a beneficiary of PM Jeevan Jyoti Bima, the age of the applicant must be between 18 years to 50 years.

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