PMJJBY means Pradhan Mantri Jeevan Jyoti Bima Yojana, a flagship scheme launched by the Government of India in 2015, for providing comprehensive health insurance coverage to the economically weaker sections of the society. The scheme provides a death benefit of Rs. 2 lakh to the nominee in case of the insured person’s demise due to any reason. The policyholder needs to pay a minimal premium of just Rs. 330 per annum for the coverage provided under the scheme.
The PMJJBY scheme is available to all Indian citizens aged between 18 and 50 years. However, the individual must have a savings bank account to avail the benefits under the scheme.
The PMJJBY scheme is offered by most of the leading life insurance companies in India. The policy term is one year, and the policy must be renewed every year to continue to enjoy the benefits of the scheme. The coverage under the policy is limited to a single bank account holder, and one policy can be availed for each savings bank account. Therefore, individuals with more than one savings bank account can avail of the coverage under the scheme from multiple accounts.
The PMJJBY scheme provides comprehensive health insurance coverage for the economically weaker sections of the society. In case of the insured person’s demise due to natural or accidental causes, the nominee is eligible for the death benefit of Rs. 2 lakh. The scheme aims to provide financial assistance to the family of the insured person in case of an untoward incident.
The PMJJBY scheme is a step towards making health insurance accessible to the masses. The low premium and high coverage make it an attractive option for the economically weaker sections of the society.
The PMJJBY scheme is a part of the larger financial inclusion initiative launched by the Government of India. The scheme aims to provide insurance coverage to the masses to ensure financial security and stability. The government has broadened the reach of the scheme by partnering with a large number of banks and insurance companies.
The eligibility criteria for the PMJJBY scheme are minimal, allowing more individuals to avail of the benefits. The scheme is particularly beneficial for those who do not have access to health insurance coverage due to low income.
Individuals interested in availing of the PMJJBY scheme can approach any of the banks offering the scheme and submit the necessary documents. The bank will open a savings bank account, and the individual can enroll for the PMJJBY scheme.
The PMJJBY scheme is a simple and hassle-free way to obtain comprehensive health insurance coverage. The nominal premium and death benefit make it an attractive option for individuals looking for financial protection for their families.
The PMJJBY means has received widespread support from the masses due to its simplicity and affordability. The benefits of the scheme are reaching a large section of society, providing an additional layer of security to the economically weaker sections of the society.
In conclusion, the PMJJBY scheme is an initiative by the Government of India to provide comprehensive health insurance coverage to the masses. The scheme aims to ensure financial stability and security for the economically weaker sections of society. The nominal premium and high coverage make it an attractive option for individuals looking for financial protection for their families. Individuals interested in availing of the scheme can approach any of the banks offering the scheme and submit the necessary documents. The PMJJBY scheme is a simple and hassle-free way to obtain comprehensive health insurance coverage.