“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.”
