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LOGINPradhan Mantri Jeevan Bima Yojana
The scheme is a one-year term life insurance plan, renewable every year, offering life insurance coverage for death due to any cause.
Eligibility:
Savings bank account holders of KAIJS Bank aged between 18 years (completed) and 50 years (age nearer birthday) are eligible for enrollment.- Members must give their consent and enable auto-debit from their savings account to join the Pradhan Mantri Jeevan Jyoti Bima Yojana.
- Individuals joining after the initial enrollment period must submit a self-certification of good health.
- They must declare that they do not suffer from any critical illnesses listed in the declaration form.
Premium:
- Rs.436/- per annum plus service tax and education cess, if any.
- The premium will be deducted from the account holder’s savings bank account through the auto-debit facility in one installment on or before 31st May of each annual coverage period.
- Delayed enrollment after 31st May is possible with full payment of the annual premium and submission of a self-certificate of good health.
- The premium would be reviewed based on annual claims experience.
Enrolment Modality:
- The cover shall be for the one-year period from 1st June to 31st May. To join, members must give the option for auto-debit from their designated savings bank account by 31st May every year, except for the initial year.
- Delayed enrollment with full annual premium for prospective cover may be allowed upon submission of a self-certificate of good health.
- Individuals who exit the scheme can re-join in future years by submitting a declaration of good health in the prescribed format.
- New eligible entrants or currently eligible individuals who did not join earlier or discontinued their subscription may join in future years while the scheme continues, subject to submission of a self-certificate of good health.
Product Benefits:
Event | Benefit Payable |
|---|---|
| Death | ₹. 2 Lakh |