PM Jeevan Jyoti Bima Yojana: In this era of corona epidemic, the importance of life insurance has increased a lot. A life insurance saves us from getting caught in a financial crisis if something untoward happens. Those who cannot take life insurance policies with high premiums can take advantage of government insurance schemes. The central government offers a cheap premium life insurance scheme Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
In PMJJBY, customers get life cover up to 55 years. This scheme is for every Indian. Adults from 18 to 50 years can join this scheme. This insurance cover is available like other life insurance. To take advantage of this insurance policy, it is necessary for the customer to have a savings account with a bank. Insurance cover up to Rs 2 lakh can be available in this scheme.
Premium amount is very low
The annual premium in PM Jeevan Jyoti Bima Yojana is only Rs 330. In this, an insurance cover of Rs 2 lakh is available. It is renewed every year. The insurance period is from 1st June to 31st May. In the Pradhan Mantri Jeevan Jyoti Bima Yojana, even if an insured is not able to pay the premium, he can still return it by paying the annual premium again. For this, he will have to give a self-declaration of his good health.
Make a claim like this
In case of accident to the insured in this insurance plan, the nominee can fill the claim form along with the death certificate and take the claim from the bank where the bank account is maintained. On this Rs 2 lakh is transferred to the nominee. Insurance cover is available in case of accident in the plan. Any customer can take advantage of this scheme with only one bank account and one insurance company. Under PMJJBY, pending claims are settled in just seven days.