What is PMJJBY Scheme Policy and Its Benefits, Claim Form and More
28 September, 2023
8 Shares
313 Reads
Share
Are you worried about the financial security of your loved ones in the event of your untimely demise? Look no further than the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) scheme. This government-backed initiative aims to provide affordable life insurance coverage to individuals between the ages of 18 and 50. Offering a host of benefits, including a sum assured of ₹2 lakhs to the nominee in case of the policyholder's death, this mediclaim policy serves as a lifeline for millions across India.
Read ahead to know more about the features, premiums, enrolment, and claim process.
Key Features of the PMJJBY Policy
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) scheme is a powerful financial tool designed to safeguard the interests of individuals in India. Here are some key features of this remarkable initiative:
- Age Eligibility: The scheme is available to Indian residents aged between 18 and 50, ensuring that a significant portion of the population can benefit.
- Coverage Duration: Once enrolled, policyholders can enjoy coverage for one year, renewable annually, allowing them to maintain uninterrupted protection for themselves and their loved ones.
- Sum Assured: In the unfortunate event of the policyholder's death, the nominee is entitled to receive a sum assured of ₹2 lakhs, which can provide crucial financial support during difficult times.
- Auto-debit Facility: The premium amount is automatically debited from the policyholder's linked bank account, ensuring convenience and hassle-free payment without frequent manual transactions.
- Tax Benefits: Policyholders can enjoy tax benefits under Section 80C of the Income Tax Act for the premium paid, thereby reducing their overall tax liability.
- Renewability: The PMJJBY scheme can be renewed annually, allowing policyholders to continue their coverage and protect their loved ones without any gaps.
- Nationwide Coverage: This government-backed scheme is available across all states and union territories in India, ensuring widespread access to life insurance benefits.
- No Medical Examination: Unlike many other insurance policies, PMJJBY does not require a medical examination at enrollment, making it easier for individuals to secure coverage.
Affordable PMJJBY Premium and Enrollment
Affordability is one of the most remarkable aspects of the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) scheme. With an annual PMJJBY premium of just ₹330, this policy ensures that life insurance coverage is accessible to many individuals in India. This nominal premium amount allows individuals from various economic backgrounds to secure financial protection for themselves and their loved ones.
Additionally, enrolling in the PMJJBY scheme is a hassle-free process. Interested individuals can easily enrol through designated banks or even through the Jan Dhan Yojana, a financial inclusion program that provides access to banking services for all. The simplicity and convenience of the enrollment process make it easier for people to avail themselves of the benefits offered by the PMJJBY scheme, ensuring that more individuals can safeguard their future and that of their families.
Claiming Benefits Under PMJJBY Scheme
The process of claiming benefits under the (PMJJBY) scheme is designed to be seamless and efficient, providing much-needed support during challenging times. All they need to do is submit a duly filled claim form and necessary documents such as the death certificate, nominee's ID proof, and bank account details.
The straightforward claim process ensures that the insurance amount is disbursed promptly, helping the nominee navigate financial uncertainties and providing stability during a difficult phase. With the PMJJBY scheme, individuals and their loved ones can find solace in knowing that the benefits they are entitled to can be easily accessed, providing financial support when needed the most.
Wrapping Up
The impact of the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) scheme has been significant and far-reaching. By providing best health insurance policy coverage to a large population, the scheme has brought about a positive transformation in the financial security sector of individuals in India.
It has instilled confidence and peace of mind in the policyholders, knowing that loved ones will be protected in case of the policyholder's untimely demise. The PMJJBY scheme has also played a crucial role in promoting financial inclusion, as it is accessible to individuals across various economic backgrounds. Furthermore, the scheme has had a cascading effect on the overall economy, as insured individuals and their families are better positioned to face financial challenges and maintain stability.
Secure your Health with comprehensive insurance plans from Niva Bupa
Health Insurance - Health Insurance | Medical Insurance | Best Health Insurance Plans | Health Insurance Plans | Health Insurance Policy | Best Health Insurance Plans | Best Family Health Insurance | Best Mediclaim Policy | Best Health Insurance In India | Best Medical Insurance In India | Best Health Insurance Plans In India | Best Health Insurance Policy In India | Mediclaim | Best Health Insurance For Senior Citizens In India | Best Health Insurance | Health Insurance With Opd Cover | Mediclaim Insurance | Medical Insurance Plans | Best Health Insurance Company in India | Critical Illness Insurance | Personal Accident Insurance | Mediclaim Policy | Individual Health Insurance | Pregnancy Insurance | Maternity Insurance | Best Family Health Insurance plans in India | Best Health Insurance company | Family Health Insurance | Best Health Insurance plans for Senior Citizens | Mediclaim Policy for Family
Health Insurance Schemes - Chief Ministers Comprehensive Health Insurance Scheme | Employee State Insurance Scheme | Swasthya Sathi Scheme | Pradhan Mantri Matru Vandana Yojna | Government Health Insurance Scheme | Dr. YSR Aarogyasri Scheme | Pradhan Mantri Suraksha Bima Yojna | Health Insurance Deductible | West Bengal Hcovealth Scheme | Third Party Administrator | Rashtriya Swasthya Bima Yojana | In Patient Vs Out Patient Hospitalization | Mukhyamantri Chiranjeevi Yojna | Arogya Sanjeevani Health Insurance | Copay Health Insurance | Cashless Health Insurance Scheme | Mukhyamantri Amrutum Yojna
Travel Insurance - Travel Insurance | International Travel Insurance | Student Travel Insurance | Travel Insurance USA | Travel Insurance Canada | Travel Insurance Thailand | Travel Insurance Germany | Travel Insurance Dubai | Travel Insurance Bali | Travel Insurance Australia | Travel Insurance Schengen | Travel Insurance Singapore | Travel Insurance UK | Travel Insurance Vietnam | Malaysia Tourist Places | Thailand Visa for Indians | Canada Visa for Indians | Bali Visa for Indians | ECR and Non ECR Passport | Qatar Visa Status | USA Visa | Vietnam Visa | USA H1B Work Visa
Become an agent - Insurance Agent | Insurance Advisor | Licensed Insurance Agent | Health Insurance Consultant | POSP Insurance Agent
Group Health Insurance - Startup Health Insurance | Commercial Health Insurance | Corporate insurance vs personal insurance | Group Personal Accident Insurance
Top Hospitals - Best Hospitals in Chennai | Top Hospitals in Delhi | Best Hospitals in Gurgaon | Best Hospitals in India | Top 10 Hospitals in India | Best Hospitals in Hyderabad | Best Hospitals in Kolkata | Best cancer hospitals in Bangalore | Best cancer hospitals in Hyderabad | Best cancer hospitals in Mumbai | Best cancer hospitals in India | Top 10 cancer hospitals in India | Top 10 cancer hospital in Delhi | Multi Speciality Hospitals in Mumbai | Multi Speciality Hospitals in Chennai | Multi Speciality Hospitals in Hyderabad | Super Speciality Hospitals in Delhi | Best Liver Hospitals in Delhi | Best Liver Hospitals in India | Best Kidney Hospitals in India | Best Heart hospitals in Bangalore | Best Heart hospitals in India | Best Heart hospitals in Kolkata | Best Heart hospitals in Delhi
Others - Top Up Health Insurance Policy | Corporate Health Insurance | Health Card | Section 80d of Income Tax Act | Ayushman Bharat | Health Insurance Portability | GoActive Family Floater Plan | Health Companion Family Floater Plan | Health Premia Family Floater Plan | Health Pulse Family Floater Plan | Health Recharge Family Floater Plan | Heartbeat Family Floater Plan | Money Saver Family Floater Plan | Saral Suraksha Bima Family Floater Plan | Senior Citizen Family Floater Plan | Super Saver Family Floater Plan | Corona Kavach Family Floater Plan | Hospital Cash Insurance | Cashless Health Insurance | Health Companion Price revision | Heartbeat Price revision | ReAssure Price revision
Health & Wellness - PCOD | PCOD Problems Symptoms | Stomach Infection | Stomach Infection symptoms | Home remedies for Stomach Infection | Hypertension definition | How to Control Sugar | Typhoid in Hindi | Blood sugar symptoms | Typhoid symptoms in hindi | Low sugar symptoms | ब्लड शुगर के लक्षण | pregnancy me kya kare | Open heart surgery cost | Blood infection symptoms in hindi | BP badhne ke karan | Khansi ka gharelu upay | Omicron | Coronavirus Health Insurance | Covid XE Variant | Norovirus
www.nivabupa.com
+91 11 41743397
1860-500-8888
3rd Floor, Capital Cyberscape, Sector 59, Gurgaon
- Insurance is a subject matter of solicitation. Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) (IRDAI Registration Number 145, Category:Health), 'Bupa' and 'HEARTBEAT' logo are registered trademarks of their respective owners and are being used by Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) under license. CIN: U66000DL2008PLC182918
- 1 Niva Bupa processes pre-authorisation requests within 30 minutes for all active policies, subject to receiving all documents and information(s) up to Niva Bupa’s satisfaction. The above commitment does not include pre-authorisation settlement at the time of discharge or system outage.
- 2 Since Inception refers to claim data from 2010 till December 2023.
- 3 ReAssure 2.0 Premium: The premium is including taxes and for Bronze Variant, for a 25-year-old individual living in Delhi.
- 4 Aspire Premium: The premium is including taxes and for Gold+ Variant, for a 25-year-old individual living in Delhi.
- 5 Senior First Premium: The premium is including taxes and for Gold Variant, for a 65-year-old individual living in Delhi.
- 6 Health Premia Premium: The premium is including taxes and for Silver Variant, for a 25-year-old individual living in Delhi.
- 7 SmartHealth + Disease Management Premium: The premium is including taxes and for Disease Management Gold Variant rider when bought with ReAssure 2.0 Bronze variant with Base Sum Insured of 5 lacs, for a 25-year-old individual living in Delhi.
- Beware of spurious / fraud phone calls! Do not share your confidential information like Debit / credit card number, Internet Banking User ID/Password, Pin, CVV, OTP, etc. with anyone. Avoid clicking on attachments / payment link received in mails / message from unknown sources. IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment or premium. Public receiving such phone calls are requested to lodge a police complaint. Do not respond to unsolicited and attractive offers received through unidentified calls, emails, SMSs, and other social media platforms. Beware of misleading telephone calls from people posing as Niva Bupa officials, agents, IRDAI Officials, Officials from ECI (Office of the Executive Council of Insurers) etc. and offering alluring benefits or sharing false information on your policy or on Niva Bupa. Niva Bupa shall not be responsible for any loss or damages whatsoever for any acts or omissions arising out of such spurious calls, and all customers are advised to contact our customer care at 1860-500-8888 and verify any representations or promises made by any such spurious callers before acting upon the same.