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Highlights of the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY for Life Insurance) are as below:
Eligibility: The savings bank account holders of the Participating Bank between 18 years (completed) and 50 years (age nearer birthday) who have given the consent to join the scheme / enable auto- debit, as per the modality, will be enrolled into the scheme.
Policy Period: The cover shall be for one year period from 1 June to 31 May for which option to join / pay by auto-debit from the designated savings bank account on the prescribed forms will be required to be given. Every year the Policy is renewed in the Month of May wherein balance in the account has to be maintained for Auto Renewal of policy for the next Policy Year.
Premium:
Premium will be collected on Pro-Rata basis as per DFS guidelines:
SL No. | Enrolment period | Total Premium to be paid |
1 | June to Aug | 436 |
2 | Sep to Nov | 342 |
3 | Dec to Feb | 228 |
4 | March to May | 114 |
Payment Mode: The premium will be directly auto-debited by the bank from the subscribers’ Savings Bank account. This is the only mode available currently.
Risk Coverage: Sum Assured of Rs. 2,00,000 on death of the Insured member for any reason is payable to the Nominee. No claim is admissible for deaths during the first 30 days from the entry date, except for cases of death due to accident.
Termination of assurance:
Terms & Conditions:
Enrolments through Internet Banking
Enrolment through TAB based Banking at BC Locations
Enrolments through ATM:
Highlights of the Pradhan Mantri Suraksha Bima Yojana (PMSBY for Accidental Death/Disability Insurance) are
Eligibility: The savings bank account holders of the participating Bank between 18 years (completed) and 70 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the modality, will be enrolled into the scheme.
Policy Period: The cover shall be for one year period from 1 June to 31 May for which option to join / pay by auto-debit from the designated savings bank account on the prescribed forms will be required to be given. Every year the Policy is renewed in the Month of May wherein balance in the account has to be maintained for Auto Renewal of policy for the next Policy Year.
Premium: Rs. 20/- (per annum).
Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.
Risk Coverage: Total coverage (sum-insured) under the scheme is Rs. 2 Lakh.
|
Table of Benefits |
Sum Insured |
I. |
Accidental Death |
Rs. 2 Lakh |
II. |
Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of one hand or one foot |
Rs. 2 Lakh |
III. |
Total and irrecoverable loss of sight of one eye or loss of use of one hand or one foot |
Rs. 1 Lakh |
*The cover is subject to exclusions of the policy.
Terms and conditions:
Enrolment through TAB BASED BANKING AT BC LOCATIONS
Enrolments through Internet Banking
Enrolments through ATMs
Toll Free Numbers
Non Toll Free Numbers
(if calling from outside India)