PMJJBY

Pradhan Mantri Jeevan Joyti Bima Yojana

The Govt. of India, as a part of its Social Security Measures, has announced Pradhan Mantri Jeevan Joyti Bima Yojana (PMJJBY) offering Pure Life Insurance cover of Rs.2,00,000/- at a very nominal annual premium of Rs. 330/- for all Savings Bank account holders aged between 18 and 50 years.

Eligibility

All Savings Bank account holders in the age 18 to 50 years will be entitled to join this scheme. In case of multiple saving bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one savings bank account only.

Sum Assured

Rs.2,00,000/- is payable on death of the Insured due to any reason.

Premium

Rs.330/-per annum.

Further, Policy year has been divided into 4 quarters and the premium payable by the insured is explained below.

Premium will be on pro rata basis if the enrollment takes place during below mentioned months:

  • June, July & August : Annual premium of Rs. 330/-
  • Sept, Oct & Nov : Premium of Rs. 258/-
  • Dec, Jan & Feb : Premium of Rs. 172/-
  • Mar, April & May : One Quarter premium of Rs. 86/-

For more information please contact our Branch nearest to you