- PMJJBY or Pradhan Mantri Jeevan Jothi Bhima Yojana is a life insurance scheme with a life cover of ₹2 lakh at a premium of ₹330 per annum per member and is renewable every year.
- Policy Period: Period of insurance is annual (1st June to 31st May of every year), Coverage will be auto renewed during end of May every year.
- Premium: The premium is ₹330 per annum which will be auto-debited in one instalment from the subscriber's bank account as per the option given by him/her on or before 31st May of each annual coverage period under this scheme.
- The scheme is eligible for the resident customers with a Bank account
- Entry Age in the scheme - 18 to 50 years of age
- The insured person can renew the policy up to the age of 55 years and the premium will be debited till the customer attains 55 years of age.
- Risk coverage under this scheme is for ₹2 lakh in case of death of the insured, due to any reason.
(* Risk cover will start from 30 days after fresh enrolment)
(**Claims forms to be submitted to concerned bank branch within 30 days from the date of death.)