PMJJBY was announced during the Union Budget 2015-16, under which an insurance cover of Rs.2 lakh in case of death due to any cause and a premium of Rs.436/- per annum will be provided.
Minimum age to join Jyoti Bima Yojana
Family and Aastha card holder family members in the age group of 18 years to 50 years (both dates inclusive and age as of last birthday) have been included in Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana.
Insurance premiums will be auto-debited from the account holder’s account. Eligible age group: 18 to 50 years.
Pradhan Mantri Jeevan Jyoti Bima Yojana
A very useful insurance plan is especially for those people who are at a low-income level and want to protect their families. Under this scheme, you can get insurance protection of Rs 2 lakh by paying a nominal premium.
If the insured dies due to any reason, his family gets this amount of Rs 2 lakh. This plan helps deal with the uncertainties of life and provides financial security to the family.
Objective of Pradhan Mantri Jeevan Jyoti Bima Yojana
The main objective of Pradhan Mantri Jeevan Jyoti Bima Yojana is to provide life insurance to the people. This scheme has been created so that if a person dies suddenly, his family can get financial help.
This provides financial support to the family in difficult times and they can live their everyday life without any financial pressure. The main objective of Pradhan Mantri Jeevan Jyoti Bima Yojana is to save people from sudden financial crisis.
When a person dies untimely, their family needs financial assistance. Through this scheme, the government wants to ensure that help is provided to those families who may face financial crisis.
Benefit of Pradhan Mantri Jeevan Jyoti Bima Yojana
There are many benefits and features of Pradhan Mantri Jeevan Jyoti Bima Yojana that make it special. Let’s take a look at these.
Financial Security
Under Pradhan Mantri Jeevan Jyoti Bima Yojana, if the insured person dies, his family gets an insurance cover of Rs 2 lakh. This amount helps in reducing the financial crisis of the family.
Low Premium
The annual premium of this plan is only Rs 330, which is approximately equivalent to Re 1 a day. This premium is very cheap and can be easily afforded by everyone.
Higher Cover
You can get insurance cover up to Rs 2 lakh under Pradhan Mantri Jeevan Jyoti Bima Yojana.
Accidental Death
If the insured dies accidentally, his family receives the sum assured.
Government Scheme
This scheme is run by the government, so there is no possibility of fraud or fraud in it. People can trust it.
Simple Process
It is very easy to join the Pradhan Mantri Jeevan Jyoti Bima Yojana. It does not require many documents and the process is also very simple.
No health certificate required
No medical test is required to join this scheme.
Online Application
Online application for Pradhan Mantri Jeevan Jyoti Bima Yojana can also be done, making the process even simpler.
Available in all banks
This scheme is available in almost all government and private banks.
Available to all
The scheme is available to all Indian citizens, aged between 18 to 50 years.