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Bank of Baroda Pradhan Mantri Jeevan Jyoti Bima Yojana Plan
The Pradhan Mantri Jeevan Jyoti Bima Yojana is a life insurance scheme that is government-sponsored. The Bank of Baroda PMJJBY scheme is renewable and offers life insurance cover in case of demise because of any cause or reason.
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- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
- Bank of Baroda Pradhan Mantri Jeevan Jyoti Bima Yojana Plan
Eligibility Criteria of Bank of Baroda PMJJBY
All the account holders of the savings bank account ranging from 18 years to 50 years can easily join the Bank of Baroda PMJJBY scheme. In case an individual holds multiple saving accounts in one or various banks, then the individual can join the scheme via only one savings bank account.
The individuals who join the Bank of Baroda PMJJBY scheme, holds a savings bank account need to give assent to join a scheme and likewise enable the facility of auto-debit for the coverage term on the yearly renewal basis.
Features of Bank of Baroda PMJJBY
The following are the salient features of Bank of Baroda Pradhan Mantri Jeevan Jyoti Bima Yojana:
Mode of Enrollment
An account holder can easily enrol for the Bank of Baroda PMJJBY by the following methods:
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By visiting the branch
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Via Baroda Connect (Internet Banking)
If an individual has already exited the scheme then that person can re-join the scheme in the future by simply submitting a declaration of sound health in the proforma prescribed.
Policy Period
The policy period for Bank of Baroda PMJJBY is from June 01 to May 31 of the year subsequently.
Premium
The premium is Rs 330 per member each year for the insurance up to Rs 2 lakh.
The premium is likely to be deducted from the bank account of the account holder through the facility of ‘auto-debit’ in a simple one instalment either before or on May 31 of every yearly coverage period within the scheme. The delayed enrolment for the prospective cover after May 31 is possible with complete payment of the yearly premium and by submitting a sound health self-certificate.
Insurance Benefits
The table below shows the details of the insurance benefits:
| Particular | Sum Assured |
| Permanent Partial Disability | Rs 1 lakh |
| Accidental Death and Permanent Partial Disability | Rs 2 lakh |
It is expected to present the claim within thirty days from the date of the accident and the claim settlement within an intimation of sixty days.
Understanding Termination of Assurance
The assurance upon the life of the member will terminate in case of the following events and likewise, no benefit will payable within the following scenarios:
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When attained 55 years of age and subject to the yearly renewal up to that date.
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In case of closure of the account due to insufficiency of funds to keep the insurance active.
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When there are multiple coverages within the scheme the insurance cover is restricted to Rs 2 lakh and the premium will be forfeited.
How to Register for the Pradhan Mantri Jeevan Jyoti Bima Yojana?
The customers can easily enrol for the Pradhan Mantri Jeevan Jyoti Bima Yojana from the mobile number and send an SMS by typing ‘PMJJB (last four digits of the account number) Y and send it to 8422009988.
The nominee needs to be as per the savings bank account. Moreover, the lien clause of forty-five days will be applicable.
The dedicated toll-free number for PMJJBY is 1800-102-77-88. Anyone may connect on the same between 06.00 a.m. to 10:00 p.m.
Besides, to avail of the Bank of Baroda PMJJBY, contact the nearest branch for detailed information.
Important Terms and Conditions of Bank of Baroda PMJJBY
The following are some of the important terms and conditions that one needs to be aware of in regards to the Bank of Baroda PMJJBY:
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In case the insurance cover is ceased because of any technical reasons like the insufficient balance on the date due or any of the administrative issues then the same will be reinstated upon receiving the complete yearly premium and a good health statement. During this term, the risk cover is likely to be suspended and the reinstatement of risk cover is going to be the sole discretion of the concerned insurance company.
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The assurances that are granted within the scheme are subject to a primary lien of forty-days. No claim will be admissible for demise during the initial forty-five from the commencement date of risk. The same will not be applicable in case the cause of demise is an accident. No lien will be applicable upon the renewals subsequently.
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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
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*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.
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Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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