PMJJBY affords a one- 12 months time period life cowl of Rs 2 Lakh to all of the subscribers within the age group of 18-50 years. (Representative picture)
PMJJBY scheme is a one-12 months time period life insurance coverage scheme, renewable from 12 months to 12 months, providing life insurance coverage cowl for demise as a result of any trigger.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is an insurance coverage scheme providing life insurance coverage cowl for demise as a result of any motive. It is a one-12 months cowl, renewable from 12 months to 12 months. The scheme is obtainable by banks/submit places of work and administered by life insurance coverage firms. All people who’re account holders of taking part banks/ submit places of work within the age group of 18 to 50 years are entitled to affix.
What Is The Nature Of The PMJJBY Scheme?
The scheme is a one-12 months time period life insurance coverage scheme, renewable from 12 months to 12 months, providing life insurance coverage cowl for demise as a result of any trigger.
How Will The Premium Be Paid?
The premium can be deducted from the account holder’s financial institution/submit workplace account by an ‘auto debit’ facility in a single instalment yearly, as per the consent to be given on enrolment.
Benefits of Pradhan Mantri Jeevan Jyoti Bima Yojana
- PMJJBY affords a one-12 months time period life cowl of Rs 2 Lakh to all subscribers within the age group of 18-50 years.
- PMJJBY covers demise as a result of any motive.
- The premium payable is Rs 436 every year per subscriber, to be auto-debited from the subscriber’s financial institution/submit workplace account.
Are NRIs Eligible For Coverage Under PMJJBY?
Any Non-Resident Indian (NRI) possessing a qualifying checking account with a department located in India is certified to obtain protection beneath the Pradhan Mantri Jeevan Jyoti Bima Yojana, offered they meet the stipulated phrases and circumstances of this system. Nevertheless, within the occasion of a declare, the beneficiary/nominee will obtain the declare profit solely in Indian forex.
Key Things To Know;
- Eligibility: An NRI can enrol if they’ve an eligible checking account with a department positioned in India. This means the account should be with a taking part financial institution or submit workplace.
- Terms and Conditions: NRIs enrolling in PMJJBY have to adjust to all of the scheme’s phrases and circumstances set by the federal government.
- Claim Payment: In case of a declare, the profit quantity can be paid to the beneficiary or nominee solely in Indian rupees.
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