PM Jeevan Jyoti Bima: If you are associated with the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), then this news is very special for you. The deadline for the annual premium of this scheme is 31 May. If you do not have Rs 436 in your bank account by this date, then your insurance will be automatically cancelled and you may be out of this scheme. For this reason, banks are alerting their customers by sending messages.
What is the scheme and its benefits?
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) scheme was launched in the year 2015. In this, by paying only Rs 436 annual premium, you get a life insurance cover of Rs 2 lakh. This insurance covers death due to any reason. This is a one-year plan and you have to renew it every year. The insurance amount is auto debited from the customer’s account.
What is the eligibility for the scheme?
People between the ages of 18 and 50 are eligible for this scheme. If a person joins the scheme before the age of 50, he can remain in it till the age of 55. Provided he continues to pay the premium every year. Enrollment can also be done through bank branch, BC center, bank website or post office.
Let us tell you that the government also provides an insurance cover of Rs 2 lakh under the Pradhan Mantri Suraksha Bima Yojana (PMSBY). People in the age group of 18-70 years can join this scheme. A cover of Rs 2 lakh is available for death or disability due to accident at a premium of Rs 20 per year.