- “Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme launched by the Indian government.”
- “The scheme aims to provide life insurance coverage to individuals at an affordable premium.”
- “It offers financial security and protection to the policyholder’s family in case of the insured person’s demise.”
Eligibility for PMJJBY
- “To be eligible for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), individuals must be between 18 and 50 years of age.”
- “They should have a bank account linked to their Aadhaar card.”
- “Individuals can enroll in the scheme through participating banks.”
Coverage and Premium
- “PMJJBY provides a life insurance coverage of Rs. 2 lakhs to the insured person.”
- “The premium for the scheme is affordable, set at Rs. 330 per annum.”
Benefits of PMJJBY
- “In the event of the insured person’s death, the nominee receives the sum assured, i.e., Rs. 2 lakhs.”
- “The scheme provides financial support to the insured person’s family, helping them cope with the loss.”
- “PMJJBY ensures that individuals have access to life insurance, promoting financial inclusion.”
Renewal and Claim Settlement
- “The policy can be renewed annually by auto-debiting the premium from the policyholder’s bank account.”
- “Claims under PMJJBY are settled quickly and efficiently, providing timely financial assistance to the nominee.”
Government Initiative for Financial Security
- “Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government initiative to ensure financial security and welfare of individuals and their families.”
- “The scheme offers a simple and affordable life insurance solution, particularly for those who may not have access to traditional insurance plans.”
