Pradhanmantri Jeevan Jyoti Bima Yojana (Jeevan Jyoti Bima Yojana) is a government scheme that was launched in PMJJBY: The Honorable Prime Minister of the country, Narendra Modi, launched the Prime Minister Jeevan Jyoti Bima Yojana on the 9th of May 2015. Citizens are supplied with life insurance, i.e. policies, under this plan. The insurance firm is in charge of the scheme. The Insurance Corporation and other insurance companies provide this service to citizens via the state's private banks. The beneficiary of the scheme is above 55 years old and passes away. As a result, under the PMJJBY, the insurance firm will pay Rs 2 lakh to the deceased's nominee. The candidate must be between the ages of 18 and 50 to be eligible for the scheme. The insurance firm has decided to keep the policy's maturity rate at 55 years. If you wish to apply for this as well, go to jansuraksha.gov.in, which is the scheme's official website.
Under this scheme, whoever is the scheme's beneficiary and has purchased insurance, if he dies for any reason, the insurance company will pay his family the amount of insurance, which will not cause them any problems. It's worth a look. We'll tell you about the scheme's details, such as how to apply for the Pradhanmantri Jeevan Jyoti Bima Yojana, the benefits it offers, the scheme's purpose, eligibility, and the paperwork you'll need to apply, and so on. It is imperative that you read the entire article.
Pradhan Mantri PMJJBY (Jeevan Jyoti Bima Yojana)
Insurance will be supplied to the underprivileged and weaker parts of society through the Pradhan Mantri Jeevan Jyoti Bima Yojana. The insured must deposit the amount every year in accordance with the established rules. In the event that the family's head dies, they will be covered by insurance. The insurance firm would offer the family members 2 lakh rupees, which will improve their financial situation and allow their family members to live comfortably.
|Scheme Name||Pradhan Mantri Jeevan Jyoti Bima Yojana – PMJJBY|
|Through||Prime Minister Narendra Modi|
|Scheme Start Date||9 May 2015|
|Profit Takers||Citizens of the country|
|Objective||Providing life insurance|
|Category||Central government scheme|
In the year 2020, the government would pay Rs 1134 crore to 56761 people in the country who have filed a death claim, with Rs 2 lakh going to the deceased's nominee.
Jeevan Jyoti Bima Yojana has a specific goal in mind
There is no one to look after a person's family members under the Pradhan Mantri Jeevan Jyoti Bima Yojana if he dies for whatever cause. The family member is forced to deal with financial difficulties in this case. Because, following the death of the family's leader, his children's education is left undone, and they must work hard to keep the family together. In response to this issue, the government established the Pradhan Mantri Jeevan Jyoti Bima, under which policyholders' families will be given with financial security in the event of their death, ensuring that they do not encounter any difficulties.
When a family's sole source of income dies, the family faces a slew of financial difficulties. It's a unique form of insurance plan designed to help all families in times of need. To enjoy the advantage of this insurance amount, ordinary persons will have to make an annual contribution of Rs 330.
Amount of the PMJJBY premium
The insured will have to submit a Rs 330 insurance instalment every year under the PM Jeevan Jyoti Bima Yojana. Every year in May, your insurance premium is debited automatically from your account. The citizen who benefits persons from low-income families and those who live below the poverty line. The insurance cover provided by the PM Jeevan Jyoti Bima Yojana will last from June 1 to May 31 of the following year, after which the bank would debit the premium amount from the applicant's account.
Policyholders in the plan pay a premium of Rs.330 to the insurance firm in order to reimburse the participating bank's administrative costs (Rs.298), Reimbursement of administrative charges of the participating bank by policyholders in the programme for a premium of Rs.330/- to the insurance company (Part Rs.298), part Rs.11 for reimbursement of administrative charges of the taking bank, and part Rs.30 for reimbursement of BC/Micro/Corporate/Agent.
The major reason for deducting Rs 330 per year is that
Let me explain: Every year, the bank deducts Rs 330 from policyholders' accounts in the month of May, and the policy is renewed (RENEWL) on the 1st of June, and this is done by auto-debit by the bank. This sum will be subtracted. If the premium money has been debited twice from the applicant's other accounts, you can request a reimbursement from the bank. This scheme is only valid for one year; however, if the applicant wishes to continue receiving benefits, he or she must renew it. Applicants must be between the ages of 18 and 50 to be eligible for benefits.
PMJJBY-related information of importance
Everyone is aware of the recent events; many individuals have died as a result of the pandemic, and many more have lost families. For all of their families, a sum of 200,000 will be granted upon death. Only those insurance policyholders who purchased their coverage in 2020-21 will be eligible for this scheme's benefits. It is very vital for the beneficiary of the PM Jeevan Jyoti Bima Yojana to have a savings account, and the option of auto debit for policy premiums in the savings account must be approved so that your insurance instalment payment is made by the bank on time.
Any application who is a beneficiary of this plan will not have to apply to be registered every year; instead, applicants who wish to profit from this policy should apply according to the policy's guidelines. The premium is deducted and renewed once a year. For the next 45 days, no claims can be filed under the plan. After 45 days, you can file a claim, and the insurance company will reimburse you.
PM Benefits of the Jeevan Jyoti Bima Yojana
The following are the scheme's perks and features:
* After the insured's death, Rs 2 lakh would be paid to the nominee he named.
* Applicants can apply for the plan from the comfort of their own home using their mobile phone or computer.
* A person can save both time and money by applying online.
* If a person has previously departed the plan, he may re-enter it; nevertheless, anyone who re-enters the programme must pay the insurance instalment. In addition, the applicant must provide a health-related self-declaration statement.
* Only the individual named by the insured would receive the claim payment under the Pradhan Mantri Jeevan Jyoti Bima.
PM Insurance Scheme Eligibility
The following individuals are eligible for the programme:
* To apply for the scheme, applicants must be between the ages of 18 and 50.
* PM Jeevan Jyoti Insurance is open to all citizens of the country.
* The beneficiary must have his own bank account in order to receive the funds.
* When filling out the application, the applicant must agree to the auto-debit option.
* If the applicant has other accounts or accounts with other banks, he can only apply once for this scheme.
It is critical for the applicant to have all of the necessary documents in order to fill out the scheme's application form. Only then will he be able to easily complete the form and receive the scheme's benefits. The following documents are required for the scheme.
* Aadhar Card
* Passport Size Photo
* Bank Account Number
* Registered Mobile Number
* Age Proof
* Domicile Certificate
What is the cause of the policy's expiration?
If the policyholder's insurance expires for any of these reasons, he will be unable to get benefits in the future.
* If the applicant reaches the age of 55 and the insurance has not been renewed in the interim, the coverage will expire.
* The insurance will be discontinued if the beneficiary's bank account is closed or if the premium amount is not paid.
* If an applicant joins this scheme more than once, the insurance firm will cancel his second coverage.
* If the cover amount is closed for whatever reason, he can reopen it by paying the balance within 45 days.
* If the policyholder dies within 45 days of applying for the plan, he will be unable to make a claim.
What is the procedure for applying for Pradhan Mantri Jeevan Jyoti Insurance?
If you want to apply for this scheme and take advantage of its benefits, follow the steps we've outlined. PM Jeevan Jyoti Bima Yojana online application procedure:
* To apply for the Pradhan Mantri Jeevan Jyoti Bima, go to the Pradhan Mantri Jeevan Jyoti Bima website. Visit the official website for the Jan Suraksha Yojana.
* After that, go to the main page and select the 'Forms' option.
* When you click, three alternatives will appear in front of you.
* You must select 'Prime Minister Jeevan Jyoti Insurance' from the drop-down menu.
* When you click on the new page, the alternatives 'Application Form and Claim Form' appear in front of you, and you must select 'Application Form.'
* Now you can download the PMJJBY Application Form PDF in Hindi or English, as desired.
* Take a printout of the PDF form after it has been downloaded.
* Now fill in all of the required information on the form, such as the name of the insurance company or bank, the account holder's name, account number, Aadhar card number, mobile number, and the nominee's name.
* You must go to the bank and submit the paperwork to the bank officer where you will have your savings account after filling out all of the information.
* Applicants must ensure that the payment amount is available in their bank account in order to pay the premium.
* Following that, you must submit a consent letter and consent form to include the premium amount in the auto debit option. Attach this form to the insurance application form and send it in.
How do I fill out the PMJJBY Claim Application Form?
If you want to receive the claim amount after the insured's death, you must follow the steps outlined below.
* Applicants must first visit the official website of the Jan Suraksha Yojana.
* After then, you must select an option from the main page.
* When you click, three alternatives will appear in front of you, one of which is Prime Minister Jeevan Jyoti Insurance.
* When you click on the new page, the options for Application Form and Claim Form will appear in front of you; you must select Claim Form.
* Now, depending on your preference, you can download the PMJJBY claim form in Hindi or English.
* Take a printout of the PDF form after downloading it, and carefully fill out all of the information requested on the form.
* Applicants should be aware that only the bank and the nominee will fill out the claim form. The claim form can be obtained from the bank or the official website.
* The applicant must obtain a discharge slip from the bank, attach it to the claim form, along with the death certificate and cancelled check copy, and send it to the bank.
* The procedure of getting your claim money will be completed after that.
Toll-Free Numbers are available for download (State Wise)
* Applicants must first visit the official website of the Jan Suraksha Yojana.
* After that, on the home page, select 'Contact' from the drop-down menu.
* Following that, a new page will appear in front of you.
* The State-by-State Toll-Free Number PDF can be found on the new website.
* You can check toll-free numbers and download a pdf.
Pradhan Mantri Jeevan Jyoti Bima Yojana FAQ Questions and Answers
Q : What is the Pradhan Mantri Jeevan Jyoti Bima Yojana, and how does it work?
A : The Pradhan Mantri Jeevan Jyoti Bima Yojana is a form of policy that is renewed every year and in which the policyholder's family members are given a claim under the scheme if he dies for any cause.
Q : What is the amount of the premium under PMJJBY?
A : PMJJBY has a premium sum of Rs 330. This insurance instalment will be auto-debited, which means it will be deducted from your account every year in May. It is critical to have funds in the applicant's account for this.
Q : Who will receive the benefit if the policyholder dies for any reason under the scheme?
A : If the insured dies as a result of the policy, his nominee would receive Rs 200000 lakhs, ensuring that they are not financially disadvantaged.
Q : Is it possible for an applicant who has previously left this policy to rejoin it?
A : Yes, an applicant who has already left this policy can rejoin it in the future.
Q : Who is the owner of PM Jeevan Jyoti Insurance?
A : Life Insurance Corporation and other insurance companies, as well as some chosen banks, operate PM Jeevan Jyoti Insurance. Every year, they are all responsible for auto-debiting the insurance instalment amount from the account.
Q : What age has the Jeevan Jyoti insurance policy's maturity rate been set?
Q : Is it true that the Jeevan Jyoti insurance policy's maturity rate has been set until the age of 55?
Q : What is the applicant's age when he or she applies to be a beneficiary of the scheme?
A : The candidate must be between the ages of 18 and 50 to be eligible for PM Jeevan Jyoti Bima.
We have detailed all of the facts regarding Pradhan Mantri Jeevan Jyoti Bima Yojana in this article; if you liked the material, please let us know by leaving a remark in the comment box. If you have any problems or questions about the scheme, please let us know by leaving a remark in the box below. We will do our best to respond to all of your inquiries.
Helpline Number for PMJJBY
If you require any information on the scheme or have a complaint, call the hotline numbers: 1800-180-1111 or 1800-110-001 and ask for assistance.