Pradhan Mantri Jeevan Jyoti Bima Yojana


Pradhan Mantri Jeevan Jyoti Bima Yojana

Government of India has launched a life insurance scheme which is known as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). PMJJBY is a term insurance plan for the growth of the poor people across the country. PMJJBY is available for people of age group of 18- 50 years. It provides a yearly life insurance coverage of Rs. 2,00,000 in case of the death of the person. The premium of this insurance is very nominal i.e. Rs. 330 per annum.

Pradhan Mantri Jeevan Jyoti Bima Yojana Features 

  1. 1 year coverage:- It provides life coverage of one year. One has to renew one's policy every year.
  2. Exit or Rejoin:- One can exit the policy at any point of time and can join again next year.
  3. Sum assured:- It offers a maximum sum assured of Rs 2,00,000 lakh.
  4. Premium Rates:- The premium of this insurance is very nominal i.e. Rs. 330 per annum which is same for everyone i.e.  from 18 to 50 years.
  5. Termination:- Benefits related to this policy are terminated if the insured person is over 55 years or the insured has taken policy from another bank or if if the insured has inadequate balance in saving bank account to keep the insurance in force.

Pradhan Mantri Jeevan Jyoti Bima Yojana Benefits 

  1. Benefit in case of demise- The policy provides a Rs 2,00,000/- to the beneficiary in case of death of the insured.
  2. Benefit at Maturity :- No benefits are offered at the maturity as this is pure term insurance plan.
  3. Tax Benefit- The premium that has been paid under this policy is eligible for tax deduction under section 80C of Income Tax Act. 
  4. Risk Coverage Benefit- The policy provides a risk coverage of 1 year which has to be renewed every year. 

Pradhan Mantri Jeevan Jyoti Bima Yojana Eligibility Criteria 

  1. Age between 18-50:- Any person between 18- 50 years of age and having a saving bank account.
  2. Self-attested medical certificate:- Insurance buyers joining the scheme after the primary enrollment period ranging from 31st August 2015- 30th November 2015 will have to submit a self-attested medical certificate as a proof that he/she is not suffering from any critical illness mentioned in the policy declaration form.

You can also go through other Government Schemes launched in recent times by BJP Government which would be very helpful for the preparation for UPSC, State PCS and other Government Exams:-

  1. Swachh Bharat Abhiyan
  2. Pradhan Mantri Suraksha Bima Yojana
  3. Pradhan Mantri Mudra Yojana
  4. Pradhan Mantri Jan Dhan Yojana (PMJDY)
  5. Pradhan Mantri Adarsh Gram Yojana
  6. Make in India
  7. Deen Dayal Upadhyaya Gram Jyoti Yojana
  8. Atal Pension Yojana
  9. Jal Shakti Abhiyan
  10. Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 
  11. Udaan Scheme 
  12. Digital India
  13. Skill India
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