Pradhan Mantri Jeevan Jyoti Bima Yojana: Key Details and Eligibility – Pradhan Mantri Jeevan Jyoti Bima Yojana (Prime Minister Jeevan Jyoti Insurance Scheme) is a Government-backed Life insurance scheme in the country. It was formally launched by Prime Minister Narendra Modi on 9 May 2023 in Kolkata.
- The scheme is available to people between 18 and 50 years of age with bank accounts and has an annual premium of ₹436 (US$5.50).
- The amount will be automatically debited from the account on or before 31 May every year.
- In case of death due to any cause, the payment of ₹2 lakh (US$2,500) will be provided to the nominee.
- To avail of the benefits offered by the Pradhan Mantri Jeevan Jyoti Bima Yojana policy, Benefires will have to link their Aadhaar Card to the participatory bank account.
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Eligibility :
- People aged between 18 and 50 and has a bank account will be eligible for the scheme. while people who enrol before turning 50 can avail of life cover until the age of 55 by paying premiums.
Premium:
Beginning from June 1, 2022, the annual premium for the scheme is Rs 436, which will be automatically debited in a single instalment.
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Risk Coverage:
- A sum of Rs 2 Lakh will be given in the case of death due to any cause.
Terms of Risk Coverage:
- People will have to make Enrollment in the scheme required every year, but you may select a long-term option for automatic annual renewal through bank account auto-debit.