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PMJJBY: Insurance is only 2 lakh rupees in a year at a premium of only 330 rupees, know what is the specialty of this scheme …?

PMJJBY: If you want to earn more profit by spending less money, then the central government has made arrangements for that as well. In the year 2015, the Modi government of the Center started such a scheme, which benefits up to 2 lakh rupees on an expenditure of only Rs 330 per year. This scheme of the government is named Pradhan Mantri Jeevan Jyoti Bima Yojana. Come, let us know what is the specialty of this scheme and how do people get benefits?


How will you get benefits?

Under the Prime Minister Jeevan Jyoti Bima Yojana, if you apply for insurance under a premium of Rs 330 annually, then you will get a benefit of Rs 2 lakh. Any person between the age of 18 and 50 years can avail the benefit of this scheme. The maturity period of the insurance policy of this scheme is 55 years of age. This term plan has to be renewed every year. In this, the sum assured is 2 lakh rupees.

What is the specialty of the scheme?

In order to give the benefit of life insurance to every person of the country, the Modi government of the Center started the Pradhan Mantri Jeevan Jyoti Bima Yojana on 9 May 2015. No medical examination is required to avail this insurance scheme. In addition, it is also very easy to take the policy of the scheme. Its policy can be purchased by going to any bank branch or sitting at home through net banking. Any person can apply for this scheme by visiting the portal. For this, an annual premium will have to be paid of 330 rupees, which will be automatically deducted from his savings account in the month of May every year.

When will it benefit?

In this insurance scheme, if the policyholder dies in the normal way within 45 days of enrollment, then his family will not get the sum assured. The amount of insurance will be available after 45 days of enrollment. At the same time, if death occurs in an accident within 45 days, the families will get immediate benefit of insurance cover.

Renew has to be done every year

Term plan has to be renewed every year under Pradhan Mantri Jeevan Jyoti Bima Yojana. This means that once the premium is paid, the policyholder will get the benefit of insurance within a period of one year. If the premium is not deposited in any year, then it will not get the benefit of insurance and the policy will stop automatically. Despite this, there is also a facility in it that any person can enter this scheme at any time before the age of 55 years.

Term insurance plan


Pradhan Mantri Jeevan Jyoti Bima Yojana is a term insurance plan of the government. Term insurance plan means that the insurance company pays the insurance amount in case of death of the policyholder during the insurance policy. If the policy holder remains healthy even after the maturity date of the insurance plan, then he will not get any benefit.

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