The Central Government is operating the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). The program was initiated in 2015. In this plan, a coverage of Rs 2 lakh is offered at a premium of Rs 436. We would like to inform you that the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) offers life insurance protection in case of death for any reason. This policy is available for purchase at banks and post offices. This policy is available to anyone aged 18 to 50 who holds an account with banks or post offices.
Advantages of PMJJBY
PMJJBY offers a one-year life insurance coverage of Rs 2 lakh for individuals aged 18 to 50 years.
This coverage includes death resulting from any reason.
Please provide the text you would like me to paraphrase. Customers are required to pay an annual premium of Rs 436, which is automatically deducted from their bank or post office account.
Eligibility
An individual aged 18 to 50 with a bank or post office account is eligible to apply for this policy. By acquiring this policy prior to turning 50, the insured can maintain it for 55 years by making consistent premium payments.
How to apply
To apply for the PMJJBY scheme, individuals may either go to the bank branch/BC point or check the bank’s website. Holders of Post Office Savings Bank accounts must go to the post office to submit their application. The insurance premium for the PMJJBY scheme is automatically withdrawn from the customer’s bank account annually following a one-time instruction from the account holder.
