Covid Care Life Insurance Modi Government has run Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), a life insurance scheme with cheap premiums. Life cover is available for 55 years in PMJJBY. You can take advantage of this insurance only if you have a savings account with the bank.
If you have a bank account, you can get Bima cover up to Rs 2 lakh during the Covid 19 pandemic. In fact, Modi Government has started Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), a life insurance scheme with cheap premiums. Life cover is available for 55 years in PMJJBY. You can take advantage of this insurance only if you have a savings account with the bank.
How to open insurance account
Pradhan Mantri Jeevan Jyoti Bima Yojana is for every Indian. This can include adults from 18 to 50 years of age. Pradhan Mantri Jeevan Jyoti Bima Yojana is available just like other life insurance. In this, there is a tie-up between the bank and the life insurance companies for registration.
What is special in the plan
The annual premium in Pradhan Mantri Jeevan Jyoti Bima Yojana is Rs 330. Insurance cover of Rs 2 lakh is available in this. It is renewed every year. The term of insurance is from 1st June to 31st May.
If you cannot pay the insurance premium
Even if a policyholder is unable to pay the premium from Pradhan Mantri Jeevan Jyoti Bima Yojana, he can return to it by paying the annual premium again. However, for this he will have to give a self-declaration of his good health.
Take care
Life cover is available till the age of 55 in Pradhan Mantri Jeevan Jyoti Bima Yojana. Insurance cover is available in case of any untoward incident in the plan. It is to be noted here that any customer can join this scheme only with one bank account and one insurance company.
How will be the claim
In Pradhan Mantri Jeevan Jyoti Bima Yojana, in case of untoward incident with the insured, the nominee can claim the claim from the bank where the bank account is maintained by filling the claim form along with the death certificate. On this, Rs 2 lakh is transferred to the nominee.
