SBI Life - Pradhan Mantri Jeevan Jyoti Bima Yojana ???en.user.selcrs???
SBI Life Insurance India's First and Only Multi-lingual Life Insurance website:  English | हिन्दी | বংলা | தமிழ் | తెలుగు | मराठी | ગુજરાતી | ಕನ್ನಡ | ਪੰਜਾਬੀ | മലയാളം
Call Toll Free 1800 22 9090 SMS 'CELEBRATE' to 56161
Find us on :  Twitter  Facebook
   
GROUP PLANS
Corporate Solutions
Group Loan Protection Products
Group Micro Insurance Plans
Withdrawn Group Products
Home > Corporate Solutions > Group Protection Plans > SBI Life - Pradhan Mantri Jeevan Jyoti Bima Yojana

SBI Life - Pradhan Mantri Jeevan Jyoti Bima Yojana
(UIN : 111G102V01)

 Policy Document | Sales Literature | Email | Ask for a Visit | For NRIs

Introduction
Key Highlights

Product Glance
Benefits
 
  
Introduction:
 
This is a non-linked, non-participating, one year renewable group term insurance product. This product has been designed to meet the requirements of Government of India’s “Pradhan Mantri Jeevan Jyoti Bima Yojana” (PMJJBY) scheme. The scheme will be administered by Banks and be guided by the scheme rules as specified by the Government of India from time to time.

The insurance cover under this product will start from 1st June 2015 and shall be renewed annually.
 

Key Highlights:
 
Protection at an affordable cost
 
Instant processing: No medical examination required
 
Easy enrolment: Enrolment based on a simplified proposal form
 

Plan at a Glance
 
Age at Entry Min: 18 years (Age last birthday)  
Max: 50 years (Age nearest birthday)
Maximum Maturity Age 55 years (Age nearest birthday)
Policy Term One year renewable
Sum Assured Rs. 200,000 (Two lakhs only)
Premium Amounts Rs. 330 /- (Exclusive of Service tax* and inclusive of Rs. 41 towards administrative charges of participating banks).
*Service Tax./ Cess/ GST (currently only in case of J&K residents) and/ or any other statutory levy/ duty/ surcharge will be applicable on your premiums, as notified by the Central and/or State Government from time to time as per the provisions of the prevalent tax laws.
 

Benefits:
 
Death Benefit:
In the unfortunate event of death of the insured member during the period of cover, the sum assured will be paid.

The death benefit for a member under Pradhan Mantri Jeevan Jyoti Bima Yojana cannot exceed Rs. 200,000 even in case the member is covered through multiple bank accounts or through multiple insurers. In such an event, the claim will be payable for the first application (based on the date of enrolment) and the premium on the subsequent covers is liable to be forfeited.
 
Maturity/ Surrender Benefit:
There is no maturity or surrender benefit under this plan.
 
Enrolment:
The policy commencement date is 1st June, 2015 and the period of initial cover will be up to 31st May 2016. Thereafter, the cover can be renewed on the 1st of June every year by debiting the premium to your bank account. The premium amount of Rs. 330 is payable for the cover period of 1st June to 31st May. This premium is subject to change as specified by the Government of India from time to time.

In case members wish to join the scheme post policy commencement date, he/ she can do so with the payment of full year’s premium and submission of self certificate of good health. The enrolment rules would be as specified by the Government of India from time to time.
 
Exclusions:
No Exclusions.
 
Tax Benefits:
Income Tax benefits/exemptions are as per the applicable income tax laws in India, which are subject to change from time to time. Please consult your tax advisor for details
 
 
These are only the brief features of the plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
 
76.ver.01-05/15 WEB ENG
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS.IRDAI clarifies to public that • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. • IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
 
Buy Policy Online
  Login Area
  Go
   NAVs
  Click here to view the latest Unit Values & Newsletters >>
  Services
  Premium Calculator
  Retirement Planner
  Child Education Planner
  Tax Calculator
SBI | SBI Online Banking | SBI General Insurance | SBI Card | SBI AMC | SBI Capital | SBI Global Factors | SBI DFHI Ltd
State Bank of Bikaner and Jaipur | State Bank of Hyderabad | State Bank of Mysore | State Bank of Patiala | State Bank of Travancore
IRDAI | Consumer Education Website by IRDAI | Life Insurance Council | SFIN Codes | Privacy Policy | Disclaimer | Do Not Call
IRDAI Registration no. 111 issued on 29th March 2001.
Trade logo displayed above belongs to State Bank of India and is used by SBI Life under license.
Registered & Corporate Office: SBI Life Insurance Co. Ltd, Natraj, M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai - 400 069.
CIN: U99999MH2000PLC129113
2016 SBI Life Insurance Company Limited. All rights reserved.