|PM Jeevan Jyoti Bima Yojana
||Individual bank account holders of the bank, aged between 18 years (completed) and 50 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the above modality, will be enrolled into the scheme.
||₹330/- per annum per member
||₹2 Lakhs on death
Insurance Cover for – Life Insurance for `2.00Lakhs (includes death due to any reason, Lien period of 45 days shall be applicable from the date of enrolment)
Insurance Partner - CHOICe
Cover Period - policy cover is for 1st JUNE to 31st MAY enrolment, which is renewable year on year basis.
Eligibility criteria - All individual accountholders aged between 18 years and 50 years
Insurance Premium- Premium is charged on prorata basis as given below-:
|PMJJBY Enrolment during the Months
||Premium Amount to be charged
|June,July & August(annual premium)
|September,October & November(3 quarters of premium @ Rs 86/-)
|December,January & February(2 quarters of premium @ Rs 86/-)
|March, April & May(1 quarter of premium @ Rs 86/-)
|Terms & Conditions
Termination of assurance: The assurance on the life of the member shall terminate on any of the following events and no benefit will become payable there under:
- On attaining age 55 years (age near birth day) subject to annual renewal up to that date (entry, however, will not be possible beyond the age of 50 years).
- Closure of account with the Bank or insufficiency of balance to keep the insurance in force.
- In case a member is covered under PMJJBY with Insurance Company through more than one account and premium is received by Insurance Company inadvertently, insurance cover will be restricted to ₹ 2 Lakh and the premium paid for duplicate insurance(s) shall be liable to be forfeited.
Steps to be taken by the Nominee:
- Nominee to approach the Bank Branch wherein the Member was having the 'Savings Bank Account' through which he / she was covered under PMJJBY; along with the death certificate of the member.
- Nominee to submit duly completed documents as mentioned below:
- Claim Form,
- Discharge Receipt,
- Death certificate
- Photocopy of the cancelled cheque/passbook/ account statement of the nominee's bank account and
- The bank account details of the Member through which he / she was covered under PMJJBY.
- In case of accidental death, Copy of FIR, PMR & Police Investigation Report is required.
- After first stage checking of the enrolment, the claim will be sent to the Insurance Company for processing.
Dear Customer, please keep sufficient balance in your account for renewal of PMJJBY @`330/- & PMSBY @`12/- during 21st May 2018 to 31st May 2018