By pursuing your navigation on our website, you allow us to place cookies on your device. These cookies are set in order to secure your browsing, improve your user experience and enable us to compile statistics For further information, please view our "privacy policy"
SBI Life - Pradhan Mantri Jeevan Jyoti Bima Yojana
UIN: 111G102V01
Product Code : 76
Suraksha
Jeevan Ki,
Jyoti
Bhavishya Ki
One year renewable group Non-linked, Non-participating, pure risk premium life insurance product
Are high premiums holding you back from getting your life insured?
Secure your family’s future with SBI Life – Pradhan Mantri Jeevan Jyoti Bima Yojana. Get life cover of Rs.2 lakh at a nominal premium.
This plan offers -
- Security – to cover an eventuality
- Simplicity – easy enrollment and swift processing with no medical examination
- Affordability – through nominal premiums across all ages
Insure your family’s future today.
Highlights
Non-linked, non-participating, one year renewable group term insurance plan
Features
- Protect your family’s financial security in an eventuality
- Simplified proposal form for enrolment
- Cover of Rs.2 lakh at a reasonable cost
Advantages
Security
- Safeguard your family against financial difficulties
Simplicity
- Fast enrollment and swift processing
- No medical examination required, acceptance is based on satisfactory health declarations in the consent form
Affordability
- Insure yourself for a cover of Rs.2 lakh at a nominal premium
Avail tax benefits*
Maturity/ Surrender Benefit:
There is no maturity or surrender benefit under this plan.
Enrolment:
Participating Banks/ Post office can be the Master policy holders.
The date of commencement of insurance cover is the later of 1st June or the date of enrolment of the insured member for joining the scheme and the insurance cover will be up to 31st May of every subsequent year.
The premium will be deducted from the account holder's bank / Post office account through 'auto debit' facility in one instalment, as per the option given, at the time of enrolment under the scheme.
Thereafter, the cover can be renewed on the 1st of June every year by debiting the premium from the designated individual bank / post office account. The premium is subject to change as specified by the Government of India from time to time.
In case a member wishes to join the scheme post 1st of June, he/ she can do so with the payment of full year’s/pro-rata premium based on month of joining and submission of requisite documents/declaration, if any, as specified by scheme rules. The enrolment rules would be as specified by the Government of India from time to time.
The cover shall be for one-year period stretching from 1st June to 31st May of subsequent year for which option to join / pay by auto-debit from the designated individual bank / post office account on the prescribed forms will be required to be given by 31st May of every year. Full year’s premium would be payable at the time of renewal under the scheme and pro-rata payment would not be allowed.
In case of multiple bank / Post office accounts held by a member in one or different banks / Post office, the person is eligible to join the scheme through one bank / post office account only. Aadhaar is the primary KYC for the bank / post office account.
Exclusions:
Tax Benefits*:
For more details on risk factors, terms and conditions of SBI Life – Pradhan Mantri Jeevan Jyoti Bima Yojana, read the following documents carefully
Applicable Tax 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.
NW/76/ver2/06/22/WEB/ENG
*Tax Benefits:
Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.
You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. For further details, click here. Please consult your tax advisor for details.