Pradhanmantri Jivan Jyoti Bima Yojna

Life Insurance Covers of Rs.2.00 lacs

Scheme Information :

• Applicant should be the account holder of our bank,
• Age should be between 18-50 years.
• Insurance cover of Rs. 2 lakh will be given by LIC of India.
• Under the scheme, claim amount will be paid to nominee of account holder, upon the death of assured.
• Annual premium of Rs. 436/- will be recovered from applicant’s bank account.
• Prescribe consent cum declaration should be submitted by customer to join under this scheme.

Terms and Conditions apply*

1. Scope of Coverage: Age group of 18 years (Completed) to 50 years (nearer birthday) will be entitled to join the scheme. (Age nearer birthday 50 years means age between 49 years 6 months and 50 years 5 months 29 days)

2. Enrolment Period: The Insurance Cover is for a year from the date of enrolment under the Scheme i.e. Annual Cover. The lien period of 30 days is applicable from the date of enrolment.

3. Premium: Rs. 436/- per annum per member. The premium will be deducted through 'auto debit' facility in one installment.

4. Benefit: Rs. 200000/- is payable on subscriber's death due to any cause.

5. Termination of Assurance: The PMJJBY assurance will cease on attaining the age of 55 years (age nearer birthday) subject to ARD to that date (entry, however will not be possible beyond the age of 50 years.) Age nearer birthday of 55 years means age between 54 years and 6 months and 55 years 5 months and 29 days.

For Example, in case of Date of Renewal is 01/06/2023

a) Member "A" Date of Birth 02/12/1968

The member attains age of 54 years 5 months 29 days on the date of renewal. Hence he is eligible for coverage for the policy year 2023-2024.

b) Member "B" Date of Birth 01/12/1968

Here the member attains the age 54 years 6 months on the Date of Renewal. So he is not eligible for coverage of the policy year 2023-2024.

6.Appropriation of Premium New Members