Today, during Corona, it is very important to have at least one term insurance plan. However, many people avoid term insurance for fear of heavy premium. If you are among them, this news is for you. Today we are telling you about the Prime Minister Jeevan Jyoti Bima Scheme (Pradhan Mantri Jeevan Jyoti Bima Scheme). This insurance plan is a good option for short-term insurance.
What is a PMJJBY project?
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a term scheme in which, if a person dies after investing, his family gets two lakh rupees. Any Indian citizen can avail the scheme.
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7 features of the PMJJBY project
1. A special feature of this plan is that no medical examination is required to purchase the term plan under it.
2. The minimum age for taking a Term Plan under Pradhan Mantri Jeevan Jyoti Bima is 18 years and the maximum age is 50 years.
3. The maturity age of this policy is 55 years. This term should be confirmed every year. Under this, the total insurance amount is Rs 2 lakh. If the beneficiary of the scheme dies, his nominee will get Rs 2 lakh.
4. The annual premium for this term plan is Rs. This amount is taken from the bank account through ECS. You can take the policy under this scheme by going to any bank branch or your bank’s net banking at home.
5. You can also apply by visiting this project portal. This policy premium is automatically debited from a customer savings account in May annually.
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6. It is worth noting that the Prime Minister Jeevan Jyoti Bima plan is purchased on any given day, with the first year coverage extending till May 31st of next year.
7. After this, the premium can be renewed from the bank account on 1st June every year.
What is a Term Plan
Any word scheme means protection from risk. Under the term of the plan, when the policyholder dies, the insurance company pays the insurance amount. It is important to note that if the person taking the policy is well after the completion of the period, there is no benefit to him.