The Pradhan Mantri Jeevan Jyoti Bima Yojana is the life insurance move that is valid for one year and remains renewable from year to year. The ICICI PMJJBY offers coverage for death because of any reason.
The Pradhan Mantri Jeevan Jyoti Bima Yojana covers mortality with no investment component.
*Tax benefit is subject to changes in tax laws.
**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Take a look below to understand the benefits of ICICI Pradhan Mantri Jeevan Jyoti Bima Yojana in brief:
The cover will be for a year beginning from 01 June to 31 May of the next year. For anyone who holds the savings account joining either on or after 01 June, the cover will begin from the account holder request date and end on 31 May of the next year.
As per the earlier directives issued by the Ministry of Finance, the yearly premium for the Pradhan Mantri Jeevan Jyoti Bima Yojana was constant at a sum of Rs 330 for a term of one year beginning from 01 June until 31 May regardless of the date of request of the customer into the scheme.
The following is the revised structure of the ICICI Pradhan Mantri Jeevan Jyoti Bima Yojana:
The premium sum will be on the premise of the requested date of accountholder into this scheme and not as per the debit date from the account. For instance, in the case when the account holder places a request for the Pradhan Mantri Jeevan Jyoti Bima Yojana in 2018, 31 August the yearly premium of Rs 330 will apply for the complete one year. However, the debit will be completed in 2018, September.
Likewise, when the account holder requested for the Pradhan Mantri Jeevan Jyoti Bima Yojana on 01 September 2018 then the pro-rata premium for a sum of Rs 258 will be applied as per the structure revised.
Anyone who wishes to apply for the ICICI Pradhan Mantri Jeevan Jyoti Bima Yojana can do so in the following ways:
Listed below are the important terms and conditions of the ICICI PMJJBY scheme:
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