Pradhanmantri Jeevan Jyoti Bima Yojana: Any person aged 18 to 50 years can avail this insurance, can take it through LIC or other insurance companies
Pradhanmantri Jeevan Jyoti Bima Yojana: You can give better financial security to your family through term insurance during the Corona period. If you are unable to get insurance due to expensive premium, then you can take advantage of the Central Government’s Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). This insurance scheme is being run by the central government. In this, life insurance is provided to you at an annual premium of Rs.330.
In the scheme, on the death of the beneficiary in any way, the nominee or the family gets an amount of Rs 2 lakh. That is, if a person dies due to corona, then the nominee or family of the person in whose name there is insurance will get Rs 2 lakh as insurance.
This is a term insurance plan
PMJJBY is a term insurance plan. In term insurance, the benefit is available only after the death of the policyholder. If the policyholder remains well after the completion of the term then he does not get any benefit. It can be renewed every year.
Annual premium of Rs 330 will have to be paid
To take advantage of PMJJBY, a premium of Rs 330 has to be paid every year. If seen, a term plan is a better way to provide protection against risk at a very nominal premium.
Who can get the benefit of this scheme
The minimum age for taking a term plan under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is 18 years and the maximum age is 50 years. Any citizen of India can take advantage of this scheme. The maturity age of the policy is 55 years. Pradhan Mantri Jeevan Jyoti Yojana was launched on 9 May 2015.
registration period
Under this scheme, the annual installment has to be paid before May 31. This amount of premium will automatically be deducted from the account from May 25 to May 31. Policy holders will have to give consent for this. Its cover period is from June 1 to May 31. This means that whichever date the PMJJBY policy is purchased, its coverage for the first year will be till 31st May of the next year only. In this, the risk cover is available from 45 days after the enrollment in the scheme.
