Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY)

PMJJBY offers a renewable one year term life insurance plan covering death due to any reason.

Pradhan Mantri Jeevan Jyoti Bima Yojana

The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join/enable auto-debit.

The life cover of Rs. 2 lakhs shall be for one year stretching from 1st June to 31st May and will be renewable. Risk coverage under this scheme is for Rs. 2 Lakh in case of the insured’s death, for any reason. The premium is Rs. 436 per annum, which will be auto-debited in one installment from the subscriber’s bank account under the scheme.

The scheme is being offered by Life Insurance Corporation. The Aadhar card of the customer would be the primary KYC for the bank account.