Users between the ages of 18 and 50 having a bank account who agree to join/allow auto-debit are eligible for the PMJJBY. The main KYC for the bank account would be the Aadhar card. The Rs. 2 lakh life insurance policy will be valid for a year, from 1st June to 31st May, and will be renewed. This policy provides risk coverage of Rs. 2 lakhs in the event of the insured’s death. The yearly premium is Rs. 330, which would be auto-debited in one installment from the subscriber’s bank account on or before the 31st of May for every annual coverage term under the program, as per his discretion.
PMJJBY Certificate Download
The process of obtaining the Pradhan Mantri Jeevan Jyoti Bima Yojana Certificate varies from bank to bank. You can obviously download the certificate from the bank where you applied. All banks i.e. SBI, PNB, HDFC, BOB, IOB, ICICI, etc. offer the benefits of the PMJJBY scheme. If you have already applied and want to get the certificate as a PDF file or want to directly print it, you need to go to the bank website.
To help you understand better, in this article, we have covered two banks i.e. Bank of Baroda (BOB) & State Bank of India (SBI). The process for other banks will be similar.
Bank of Baroda BOB PMJJBY Certificate Download
Users can choose any nationalized bank or insurance provider to opt for the PMJJBY scheme. This article will focus on how to apply for the BOB PMJJBY certificate.
- Users will need to have their internet banking services availed on their account if they want to apply online for the BOB PMJJBY certificate.
- Login to the BOB internet portal for consumers.
- Select the option Social Security Scheme, under the Other Services dropdown from the dashboard.
- After selecting the above option, users will be prompted to select the scheme code that they wish to enroll in. For this instance, users will need to select the Pradhan Mantri Jeevan Jyoti Bima Yojana option.
- Choose the “Transaction Type” in the next stage to apply for the BOB PMJJBY certificate.
- For the purpose of this tutorial, we will be using the Aadhaar details to apply for the BOB PMJJBY certificate. Therefore, choose UID for the transaction type.
- In the next step, users will need to give permission to validate their details from the UIDAI portal. Click on verify to approve.
- In the next stage, users will need to fill in their details like name, account number, nominee details etc.
- Click the check box for the declaration of good health. Hit “Submit” when done.
- Upon successful registration of the BOB PMJJBY certificate, users will be redirected to the confirmation page.
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SBI Pradhan Mantri Jeevan Jyoti Bima Certificate Download
- Users can download their PMJJBY certificate from any bank’s website for which they don’t have to register. Let’s see the complete steps for the SBI PMJJBY certificate download.
- Head on to SBI Life’s website and select the Product type as PMJJBY COI
- Next, choose your bank name which is used to register for the PMJJBY.
- Fill in all the relevant details like account number, date of birth etc and solve the captcha. Hot “Submit” when done.
- Users should be greeted with their customer ID and their name.
- Click on the customer ID for SBI PMJJBY certificate download.
It should look something like this.
The key highlights of the scheme
- The policy is valid for one year.
- The policy is renewable after a year.
- Individuals can leave the program at any moment and return at a later date.
- The primary policyholder of the plan will be Participatory Bank.
- Provides a straightforward and user-friendly insurance claim settlement procedure.
- The scheme’s death cover will expire if the user is over 55 years old, has several bank accounts, and has insufficient funds in their savings account to maintain the policy in effect.
- Individuals who do not enroll in the program in the first year might do so in the following years by paying annual premiums and providing a self-certificate of good health.
- In the subsequent years, the plan will be open to new qualified applicants.
Who are eligible to apply?
- Anyone with a savings bank account between the ages of 18 and 50 can participate in this plan through authorized institutions.
- Even if a person has many bank accounts, he or she can only enroll in this plan using one savings account.
- To get an advantage from this initiative, you must link your Aadhar card to your participating bank account.
- Individuals who join the plan after the first registration period, which ran through August 31, 2015, or November 30, 2015, must provide a self-certificate of good health confirming that they are not suffering from any of the serious illnesses listed on the declaration form.
Premiums
PMJJBY can be purchased for a premium of Rs.330 per annum. The premium will be taken in one payment from your savings account using the auto-debit feature. Each month, premiums must be paid before or on the 31st of May. Payments made later will be approved under specific conditions. Premiums may be adjusted based on the annual claim of experience.
What is Pradhan Mantri Jeevan Jyoti Bima Yojana?
People between the ages of 18 and 50 who have a bank account and agree to join/allow auto-debit are eligible for the PMJJBY. The primary KYC for the bank account would be Aadhar. The Rs. 2 lakh life insurance policy will be valid for a year, from June 1 to May 31, and will be renewed. This policy provides risk coverage of Rs. 2 lakh in the event of the insured’s death for any reason. The annual premium is Rs. 330, which is auto-debited in one installment from the subscriber’s bank account on or before the 31st of May of each annual coverage term under the scheme, as per his option. The program is being offered by Life Insurance Corporation and any other life insurers willing to offer the product on comparable conditions with the relevant approvals and bank partnerships.
What is the need for PMJJBY Certificate?
The investment made towards this scheme can be claimed for tax deductions under Section 80C of the Income Tax Act, 1961. In order to avail of the benefit, one must provide a certificate.
What are the methods to obtain the Pradhan Mantri Jeevan Jyoti Bima Yojana certificate?
You may visit the bank branch and collect from there or you can log in to your bank’s website (internet banking) and get the certificate from there.
Last Updated on February 20, 2024 by Hindi Yojana Team