Pradhan Mantri Jeevan Jyoti Bima Yojana

This is a non-linked, non-participating, one year renewable group term insurance product. This product has been designed to meet the requirements of Government of India’s “Pradhan Mantri Jeevan Jyoti Bima Yojana” (PMJJBY) scheme. The scheme will be administered by Banks and be guided by the scheme rules as specified by the Government of India from time to time.

The insurance cover under this product will start from the date of debit of premium from the insured member’s account for joining the scheme.

Key Highlights:

  1. Protection at an affordable cost
  2. Instant processing: No medical examination required
  3. Easy enrolment: Enrolment based on a simplified proposal form

Plan at a Glance

Age at Entry Minimum: 18 years (Age last birthday)  
Maximum: 50 years (Age nearest birthday)
Maximum Maturity Age 55 years (Age nearest birthday)
Policy Term One year renewable
Sum Assured Rs. 200,000 (Two lakhs only)
Premium Amounts Rs. 330 /- (Exclusive of Service tax* and inclusive of Rs. 41 towards administrative charges of participating banks).
Lien Period 45 days from the date of enrolment into the scheme (entry date/date of commencement of insurance cover)