Details of the Pradhan Mantri Jeevan Jyoti Bima Yojana
The scheme will be a one year cover, renewable from year to year, Insurance Scheme offering life insurance cover for death due to any reason. The scheme would be offered/administered through LIC and other Life Insurance companies willing to offer the product on similar terms with necessary approvals and tie-ups with Banks for this purpose. Participating banks will be free to engage any such life insurance company for implementing the scheme for their subscribers.
NDA Government led by Indian Prime Minister Shri Narender Modi made its government in the year 2014. So far, the central government had launched many ambitious schemes to provide the benefits to the people of the nation. It includes schemes for Childs, Girl Childs, Youths, Pregnant Mothers, Homeless People, Government Employees, Unemployed People, Poor People, Senior Citizens etc.
Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY) is a new scheme based upon government-backed Life insurance in India Launched by Prime minister Mr Narendra Modi .
PMJJBY is basically a term life insurance policy that can be renewed either on a yearly basis or for a longer period of time. It will provide life insurance coverage on the death of the policyholder and the nominee must have a bank ac.