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:

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:

• Account holder attains age of 55 years
• Closure of account with the Bank or insufficiency of balance for debiting premium.
• In case of multiple coverage under the scheme, the cover will be restricted to Rs.2 lakhs and other insurance covers are terminated and premium shall be forfeited.

Enrolments through Internet Banking

• Incase the DOB is different from the Bank records, customers are requested to submit the proof to the base branch invariably for updating in Banks records, otherwise the application is liable for rejection.
• In case of multiple coverage under the scheme, the cover will be restricted to Rs.2 lakhs and other insurance covers are terminated and premium shall be forfeited.

Enrolment through TAB based Banking at BC Locations

• Enrolment at BC locations will be done only for those customers who have their mobile number registered in the saving account of the Bank.
• BC Agents should collect all applications from the customer & same to be handed over all the application to branch in turn branch has to authorize and update the nominee name.
• This information will also be conveyed to the customer via SMS.

Enrolments through ATM:

• Enrolments received through ATM will be accepted subject to the correctness of Date of Birth and Nomination details
• Incase the DOB is different from the Bank records, customers are requested to submit the proof to the base branch invariably for updating in Banks records, otherwise the application is liable for rejection.
• Existing Nominee will continue, in case of change kindly Contact the Branch for updation.

Terms & Conditions:

• Customer should not be insured under Pradhan Mantri Jeevan Jyoti Bima Yojana under any other Saving Bank Account In case the same is found to exist, premium shall stand forfeited and no claims would be paid.
• PMJJBY scheme cover starts from the date of subscription/auto-debit request, subject to auto-debit request.
• Customer will have to pay full annual premium even if join the Scheme after the commencement of the Group Policy.
• The Personal details of the customer will be validated in terms of information provided by the customer by the time of opening account. In case of any changes customer is advised to contact the branch to get it updated before submitting the application to the branch.
• The same details of the customer will be shared with Canara HSBC Oriental Bank of Commerce Life Insurance.
• Any information provided by customer if found to be untrue, the membership to the scheme shall be treated as cancelled from the date of joining the scheme and all amount paid in respect thereof shall stand forfeited.
• Existing Nominee will continue, in case of change kindly Contact the Branch for updation.

• Consent cum Application form - English
• Consent cum Application form - Hindi