Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana || PM Bima Yojana || Jeevan Jyoti Bima Yojana || PMJJBY || Pradhan Mantri Jeevan Jyoti Bima Yojana Application Form || PM Suraksha Bima Yojana || PM Jeevan Jyoti Bima Yojana Certificate Download || Insurance Scheme || Pradhan Mantri Insurance Scheme
Pradhan Mantri Bima Scheme Detail
PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA Scheme is an insurance scheme started by Indian government and it provides cover of Rs. 2 Lakhs in case of death of the scheme member due to any reason. Eligible applicants need to join the scheme up to 30th August or 30th November 2015. Premium of Rs. 330 has to be paid by the member.
Main Features Of PMJJBY:
- 330 to be paid yearly, that means less than 1 rupee per day and Rs. 27.5 per month
- The payment of premium will be debited(deducted) from the bank account of the individual in single installment, so it is important to maintain the required balance
- Risk coverage of Rs.2 Lakh in case of death for any reason.
- The scheme will be offered by Life Insurance Corporation and all other life insurers who are willing to join the scheme and tie-up with banks for this purpose.
- It is important for the policy holder to renew that policy each year
- While joining the scheme, the applicant need to provide the nominee name and details about the relationship
- Note : In case of minor, name of the guardian has to be specified
- The contribution of government towards this scheme is to be decided separately every year. It is to be noted that the contribution amount to be paid by the government will come from the unclaimed money that has been lying idle in various public welfare funds
How To Apply For Pradhan Mantri Jeevan Jyoti Bima Insurance Scheme
- Interested individuals need to download the application form
- Print out of the downloaded application form should be filled
- This duly filled application(enrollment/consent) form has to be submitted at the bank branch
- Make sure that enough balance is maintained in your bank account
Eligibility To Join The Insurance Scheme
- Age of the applicant should be between 18 to 50 years.
- People that join the scheme after the last date of the scheme would have to pay full premium along with a fitness certificate.
- Duly FilledApplication Form should be submitted by the interested person.
- The subscriber must have a functioning saving account with any bank located in the premises of India.
- The subscriber should give you a written consent the premium can be auto-debited from his/her saving account yearly and that he/she maintains the required minimum balance during the time of auto-debit.
- The applicant joining the scheme must provide a self -certification of good health in the Consent cum declaration form as on the date of enrollment or earlier.
Participating Banks In Pmjjby (Jeevan Jyoti Yojana)
Almost all of the popular banks like SBI, PNB, HDFC, Axis Bank, Canara, Oriental bank etc are participating. It is to be noted that the Jeevan Jyoti Bima Application Format is same for every bank, so there is no need to look for bank specific application form.
Enrollment Modality of PRADHAN MANTRI JEEVAN JYOTI BIMA Scheme
- The cover shall be for the one year period stretching from 1st June to 31st May for which option to join / pay by auto-debit from the designated savings bank account on the prescribed forms will be required to be given by 31st May of every year, with the exception as above for the initial year.
- Delayed enrollment with payment of full annual premium for prospective cover may be possible with submission of a self- certificate of good health.
Premium under the JEEVAN JYOTI BIMA YOJANA scheme
The below mentioned is the appropriation of Rs. 330 that has to be paid as the premium cash amount under PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA
Specification of the Premium
Insurance Premium to LIC / insurance company: Rs.289/- per annum per member
Reimbursement of Expenses to BC/Micro/Corporate/Agent: Rs.30/- per annum per member
Reimbursement of Administrative expenses to participating Bank: Rs.11/- per annum per member
Total – 330
Mode of Payment of the Premium
The premium account will be deducted from the bank account member automatically in one installment so, it advised for the members to keep the required amount in the respective bank account.
As per the scheme, it is the absolute responsibility of the concerned bank to pull together the required annual premium in one-go from the concerned account holder on or before the given due date. The concerned authorities will be provided with a choice of paying a one – time mandate for the auto –debit of required premium amount from their respective accounts. The projected date of commencement of PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA was 1st of June 2015 and all the renewals will take place subsequently on 31st of May 2016.
Termination of assurance under PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA
In any of the below mentioned aspects, the advantages and assertions that fall under the Pardhan mantri jeevan jyoti bima yojana should be right away concluded. In addition to this, no cash amount will be offered to the nominee or the subscriber:
- The assurance can be concluded in case the concerned person (subscriber) attains the 55 years of age. In point of Fact, trying to get you linked with the scheme after crossing 50 years of lifespan is not feasible anyway.
- The declarations and advantages can be concluded in case the saving accounts of the subscriber get shut. This is because the auto-debit of the concerned person has to be guided by this account.
- The pension cover will be concluded will all apart from any one account in case the candidate owns multiple saving accounts and also in the situation if he or she holds multiple bima policies on those accounts. The government has allowed the one policy per person under the rules of jeevan bima yojana.
- The jeevan jyoti bima policy can be concluded in case the subscriber is unable to maintain the minimum required balance in the saving account.
Pradhan Mantri Insurance Scheme
The scheme though, may be restored after the complete payment for the premium is made. Along with this the subscriber also has to provide a health certificate obtained from a professional medical practitioner.