Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
PMJJBY is a life insurance scheme with a life cover of Rs.2 lakh at a premium of Rs.436 per annum per member and is renewable every year.
Policy Period : Period of insurance is annual, Coverage will be auto renewed during end of May every year.
Premium : The premium is Rs.436 per annum which will be auto-debited in one installment from the subscriber’s bank account as per the option given by him/her on or before 31st May of each annual coverage period under this scheme.
The Scheme is available to people in the age group of 18 to 50 years with a bank account.
Risk coverage under this scheme is for Rs.2 lakh* in case of death of the insured, due to any reason.
(* risk cover will start from 45 days after fresh enrolment)