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HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan
Launched by the Government of India, Pradhan mantri Jeevan Jyoti Bima Yojana is a pure group term insurance product, which provides financial protection to the family members in case of any eventuality. The plan was specifically launched to provide the benefit of insurance coverage to masses. Moreover, with a lower premium rate it can be accessed by all individuals. HDFC Life Insurance Company facilitates very simple and hassle- free process of purchase of PMJJBY plan. Let’s read further to know in detail about HDFC PMJJBY.
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₹13,50,000 Crore of Life Cover Assured
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- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
- HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan
Eligibility Criteria of HDFC PMJJBY Plan
Here is the eligibility criteria of the policy.
HDFC PMJJBY- An Overview
HDFC's Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme that provides affordable coverage to individuals aged 18 to 50. With a sum assured of ₹2 lakh, the policy provides financial security to the nominee in the event of the policyholder's death for any reason. Premiums are low, and the coverage is renewable annually, making it accessible for those seeking basic life insurance protection.
| Eligibility Criteria | Minimum | Maximum |
| Entry Age | 18 years | New Members- 50 years Renewals- 54 years |
| Maturity Age | 19 years | 55 years |
| Sum Assured | 2,00,0000 | |
| Policy Tenure | 1 year (annual renewable) | |
| Premium Frequency | Annually | |
Premium Rate of the Scheme
The first premium payable towards the plan depends on the date of joining of plan as shown below:
| Date of Joining of Plan | Premium Rates |
| 1st June - 31st August | Rs. 330 |
| 1st September- 30th November | Rs. 258 |
| 1st December- 28th February (29th In case of leap year) | Rs. 172 |
| 1st March-31st May | Rs.86 |
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Benefits Offered by HDFC PMJJBY Plan
The following are the benefits offered by HDFC Pradhan Mantri Jeevan Jyoti Jeevan Bima Yojana Plan.
Death Benefit
In case of demise of the member during the policy tenure, a fixed sum assured amount of Rs. 2,00,000 is payable to the beneficiary of the scheme. For the new members enrolling into the scheme the plan will not cover any risk during the first 45 days from the enrolment date. Moreover, during the enrolment tenure no claim would be admissible in case of demise of the member other than due to accident.
After the payment of the death benefit, the policy will terminate and further benefits will be payable.
Maturity Benefit
As thus is a pure term insurance policy, no maturity benefit is payable under the plan.
Surrender Benefit
No surrender benefits are payable under the plan.
Features of HDFC Pradhan Mantri Jeevan Jyoti Bima Yojana Plan
- The participating bank will be the master insurance holder while the savings bank account members will come under the scheme members.
- The savings bank account holder between the age group of 18 years 50 years are eligible to purchase the plan.
- In the absence of the life assured the plan offers Rs. 2 lakh life cover for the family member.
- The policyholder will need to pay a premium amount of Rs.330 for the life cover of Rs. 2,00,000.
- The premium will be deducted from the savings bank account of policyholder through the facility of ‘auto debit’.
Application Process of HDFC PMJJBY
An individual can apply for the scheme through Net Banking and SMS facility in an easy and hassle-free way. Let’s take a look at the application process of the plan.
Using the SMS
- The eligible customers will need to sent an SMS for the activation of the policy.
- Reply ‘PMJJBY Y’ to activate.
- The applicant will receive an acknowledgement message for the receipt.
- To process the application, details such as demographic details and the beneficiary name, beneficiary relationship and date of birth of the nominee will be taken from the savings bank account of the individual.
Using the Process of Net Banking
- The applicant will need to login to the Net Banking and click on the insurance tab.
- Secondly, he/she will have to select the scheme.
- Choose the account for the payment of the premium.
- Premium amount, policy cover amount and the beneficiary details will be displayed as per the chosen account.
- Click on the confirm button to activate policy.
- For the future reference, the applicant should download the unique reference number and acknowledgement number.
Terms and Conditions of HDFC PMJJBY
- The individual who exit the plan can rejoin the scheme anytime in future by paying the applicable premium rate and submitting a good health certificate.
- Exclusion as mandated in the PMJJBY plan, will be applicable as amended from time to time.
- The individual can make delayed enrolment by paying pro-rated premium for the prospective cover with submission of certificate of good health. The coverage for these members will be terminated at the risk cession date of plan I.e. 31st of May each year.
- The date of risk commencement of the plan will be same as enrolment date and risk cessation date following 31st Initial cover period will be from the enrolment date to the following 31st May.
Note: Check all the best term insurance plan in India.
Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.
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FAQs
-
Q: How much does it cost to get HDFC Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?
Ans: The yearly cost of HDFC PMJJBY is ₹330, which includes taxes. This low premium gives the policyholder's nominee ₹2 lakh in life insurance coverage if the policyholder dies. -
Q: What do I need to do to apply for HDFC PMJJBY?
Ans: You can apply for HDFC Pradhan Mantri Jeevan Jyoti Bima Yojana at HDFC Bank branches, online, or by going to an authorised agent. To sign up, you need to have a savings or checking account with the bank. -
Q: Who can get HDFC PMJJBY?
Ans: To be able to get HDFC Pradhan Mantri Jeevan Jyoti Bima Yojana, the person must be between 18 and 50 years old, have an HDFC bank account, and agree to the policy through the bank. -
Q: How can I claim the money from the HDFC Pradhan Mantri Jeevan Jyoti Bima Yojana?
Ans: The person who is named in the policy can file a claim with the bank where the policy was bought. They will need to bring the death certificate and policy details. The process of making a claim is easy and stress-free.
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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
Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10
+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
*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.
+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
Women
+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.
1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.
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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