Pradhan Mantri Jeevan Jyoti Bima Yojana
What is “Pradhan Mantri Jeevan Jyoti Bima Yojana”?
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme aimed at enhancing social security for individuals in India. Launched on May 9, 2015, by Prime Minister Narendra Modi, this scheme offers affordable life insurance coverage to ensure financial protection for families in the event of the policyholder’s death.
Benefits of “Pradhan Mantri Jeevan Jyoti Bima Yojana”
| Benefit | Description |
| Affordable Premium |
Annual premium of just INR 436 per member.
|
| Substantial Coverage |
Life insurance coverage of INR 2 lakhs.
|
| Easy Enrollment |
Simple enrollment process through banks and insurance companies.
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| Wide Accessibility |
Available to all Indian citizens with a savings bank account.
|
| Automatic Renewal |
Policy is automatically renewed every year upon premium payment.
|
| Tax Benefits |
Premium payments qualify for tax deductions under Section 80C.
|
Official Website
Eligibility for “Pradhan Mantri Jeevan Jyoti Bima Yojana”
| Criteria | Details |
| Age | 18 to 50 years. |
| Bank Account |
Must have a savings bank account.
|
| Health Condition |
Should provide a self-certificate of good health at the time of enrollment.
|
| Premium Payment |
Annual premium of INR 436 must be paid.
|
How to Apply for “Pradhan Mantri Jeevan Jyoti Bima Yojana”
- Visit Your Bank: Go to the bank where you hold a savings account.
- Fill the Form: Obtain and fill the PMJJBY enrollment form.
- Submit Documents: Provide the required documents (see next section).
- Pay Premium: Pay the annual premium of INR 436.
- Automatic Renewal: Ensure the premium is deducted annually from your account for continuous coverage.
Documents Required for “Pradhan Mantri Jeevan Jyoti Bima Yojana”
| Document | Description |
| Enrollment Form |
Duly filled PMJJBY enrollment form.
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| Aadhar Card |
Proof of identity and address.
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| Bank Account Details |
Copy of the savings bank passbook or account details.
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| Health Self-Certificate |
Declaration of good health.
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How to Check Application Status
- Contact Your Bank: Reach out to your bank where you applied for the scheme.
- Visit Bank’s Website: Check the application status through the bank’s online portal.
- Customer Service: Call the customer service number of the bank for assistance.
Sources and References
Common FAQs about “Pradhan Mantri Jeevan Jyoti Bima Yojana”
Q1: What is the annual premium for PMJJBY?
A: The annual premium for PMJJBY is INR 436.
Q2: Who is eligible for PMJJBY?
A: Indian citizens aged 18 to 50 with a savings bank account are eligible.
Q3: What is the coverage amount under PMJJBY?
A: The scheme provides life insurance coverage of INR 2 lakhs.
Q4: How can I apply for PMJJBY?
A: You can apply by visiting your bank, filling out the enrollment form, submitting required documents, and paying the annual premium.
Q5: Is the premium paid for PMJJBY eligible for tax benefits?
A: Yes, the premium qualifies for tax deductions under Section 80C of the Income Tax Act.
