PMJJBY: Financial security has become extremely important today, and the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) makes it accessible and easy. Under this scheme, Indian citizens aged 18 to 50 can provide their families with insurance coverage of ₹2 lakh by paying just ₹436 annually. Regardless of the cause of death – be it illness, accident, or natural disaster – the benefit goes directly to the nominee’s account.

NRIs can also avail of this benefit through a bank account in India. The premium is deducted via auto-debit, and tax relief is available under Section 80C of the Income Tax Act. Application can be easily done through bank branches, post offices, internet banking, or mobile apps. This scheme ensures the financial security of the family and provides coverage without any medical test.

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Benefits of PM Jeevan Jyoti Bima Yojana

Annual Insurance Coverage – The Pradhan Mantri Jeevan Jyoti Bima Yojana is a one-year term life insurance scheme. If the insured person dies for any reason, their nominee receives a benefit of ₹2 lakh.

Who can avail the benefit – Indian citizens aged 18 to 50 can avail of this scheme. It is mandatory to have a bank or post office account. NRIs can also join this scheme if they have a bank account in India.

Affordable Premium and Tax Benefits – The annual premium for this scheme is only ₹436. The premium is deducted via auto-debit, and tax relief is available under Section 80C. If someone joins the scheme mid-year, a proportionate premium is payable.

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Simple Application Process – Applying for PMJJBY is very easy. Applications can be submitted through bank branches, post offices, internet banking, or mobile apps. Basic KYC information like Aadhaar is required.

Renewal and Coverage Period – After joining the scheme, an individual can renew it until the age of 55. If a person enrolls before the age of 50, the coverage can be continued by renewing it every year.