NAME : Pradhan Mantri Jeevan Jyoti Bima Yojana
TYPE OF YOJANA : This is a Life Insurance scheme made available by Modi Government at very affordable premium It is open for participation for all Indian citizens having a bank account.
MINISTRY : Department of Financial Services. Ministry of Finance
WEBSITE : http://www.jansuraksha.gov.in/.
PURPOSE : Main purpose of this yojana is creating a universal social security system, targeted especially for the poor and the under-privileged who other wise cannot afford to subscribe to any Life Insurance scheme due to high rate of insurance premium.
STRUCTURE : Under this yojana all Indians in the age group of 18 to 50 years can get a life insurance cover of Rs. 2 lacs from death due to any reason at a highly affordable annual premium of Rs.330/- only. This gives financial security to the family of the insured in the case of death of earning member due to any reason.
LAUNCHING DETAILS : Hon’ble Prime Minister launched this scheme nationally in h May, 2015.
HOW TO APPLY : Any Indian who is between age group of 18 to 50 years can apply for this insurance policy. The person should have a Bank account in any Nationalized or other participating Bank and shall apply for this yojana at the Bank branch.
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This insurance policy is available in all the branches of banks in OTC ( Over the counter ) method. The application is very simple and does not require any additional documents other than Adhar. The bank will debit the premium of Rs.330/- per annum from the Bank account. The insurance cover under this policy is given for the year 1st June to 31st May every year. For renewal the applicant can give Auto Debit instruction at the time of first application only. Then the Bank will renew the policy for next year.
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A life insurance cover of Rs. 2 Lacs is available for the insured. In case of death due to any reason his family gets the claim amount of Rs.2 Lacs. The claim it is to be made and it is settled in the same Bank only.
- The cover under this Life Insurance scheme is not available after completing 55 years of age.
BENEFICIARIES : Total 5 crore 47 Lac persons have enrolled them selves under this yojana.