The Prime Minister Jeevan Jyoti Bima Yojana has many advantages for the poor in the Corona period. The annual premium of Pradhan Mantri Jeevan Jyoti Bima Yojana is just Rs 330. Nature covers disasters such as earthquakes, floods, or other natural calamities. Even in any death such as suicide and murder, one gets a claim under it. Let us know where and how you can claim under this scheme.
How can claim
To take advantage of this scheme, it is necessary to have a bank account. Insurance can be canceled if the bank account is closed or there is insufficient balance in the account at the time of deducting the premium. A person’s death certificate and a claim form have to be submitted to get the claim. After the process is completed, the claim amount will be transferred to the nominee’s bank account.
Terms and Conditions
- The PMJJBY scheme is offered / administered through LIC and other private life insurance companies.
- A person can associate with PMJJBY only with an insurance company and a bank account.
- Individuals who abandon the scheme can rejoin it by paying annual premium and depositing self declaration of good health.
- To obtain the claim of PMJJBY, the nominee / successor of the insured must contact the bank branch where the insured has an account.
- Within 45 days of taking the policy of the insured, there will be no benefit of insurance in case of death due to accident other than accident. Death due to accident is covered in this policy from day one.
- If the Joint Bank Account Holders want to take advantage of the scheme then all the holders of the account will have to pay the premium annually.
- The insurance will end automatically after the insured is 55 years old. It is a pure term insurance policy, so it covers only death. There is also no maturity benefit, surrender value etc. Hence its premium is lower than other life insurance policies.