10 POINTS TO KNOW-PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA

PM Modi on 9 MAY 2015 launched another Life Insurance Scheme. The name of the scheme is PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA. In this Yojana any Indian whose age is in between 18 to 50 years can enroll in this Yojana. The annual premium will be Rs 330/- .Against this premium you would be getting a one year Term Life Insurance of Rs 2 Lakhs. Toll Free Number is 1800 180 1111.

PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA

1. Eligibility-Any Indian Citizen whose age is in between 18 to 50 Years can enroll in this Bima Yojana. To enroll in this Yojana you need to have a saving account. In case of multiple saving accounts you can open only one Bima Yojana account.

2. Mode of Premium Payment-The premium amount which is of Rs 330/- annually will be auto debited from your saving account once in a year.

3. Nature of Scheme-The Yojana is of one year. After one year if you want to avail this Bima Yojana in feature, you have to renew it on yearly basis.

4.Benefits-In this Bima Yojana the subscriber`s nominee will be getting a insured amount of Rs 2 Lakh in case of death due to any reason.

5. Offer/Administer of Scheme-This Bima Yojana will be offered/administered by LIC or other Life Insurance Company. You can open this account in any Indian bank.

6.Enrollment Period-In this Bima Yojana you can enroll from 1st June 2015.The coverage will be initiated from 1st June 2015 to 31st May 2016.The premium which of Rs 330/- will be auto-debited by 31 May 2015 from your saving account. To enroll in this bima Yojana you have to download, fill the form and submit it in the respective bank.

7. Eligibility of joining in future Year-In this Bima Yojana you can join in Future years by paying the premium through auto –debit and you have to submit a self-certificate of good health.

8. Can rejoining is Possible -Any Individual who left the scheme due to any reason can rejoin by simply paying the annual premium and submit a self-certificate of good health.

9. Who would be the master Policy Holder-In this Bima Yojana the master policy Holder will be the participating banks.

10. About Addition Coverage -In this Bima Yojana if you are enrolled in any other Insurance Scheme than also you can get the additional coverage.

11. Premium Appropriate-The appropriate of premium is listed below.

I. Insurance Premium to LIC/other Insurance company will be Rs 289/-per annum per member.

II. Reimbursement of Expenses to BC/Micro/Corporate/Agent will be Rs 30/- per annum per member.

III. Reimbursement of Administrative expenses to participating Bank will be Rs 11/- per annum per member.

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