Who is Eligible for Bima Yojana?

Eligibility Criteria for Pradhan Mantri Jeevan Jyoti Bima Yojana

The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a significant initiative introduced by the Prime Minister, offering life insurance coverage in the event of death due to any reason, which can be renewed annually.

However, before you proceed to apply for this scheme, it's essential to understand its eligibility criteria. Read on to learn more about the eligibility requirements of Bima Yojana, including its application process and benefits.
 

What are the eligibility criteria for Bima Yojana?

To apply for Pradhan Mantri Jeevan Jyoti Bima Yojana, the applicant should fulfil the following eligibility criteria:

• The age limit for the PMJJBY is between 18 and 50 years.
• The applicant must hold a savings account with a bank or a post office account.
• The applicant must provide consent for the scheme and enable auto-debit for the annual premium.
   

What are the documents required for Bima Yojana?

The documents required to apply for Bima Yojana are mentioned in the following list:

• Application Form: The applicant should bring the filled-out application form, which is available at the nearest bank branch or the official PMJJBY website.
• Aadhar Card: Make a photocopy of your Aadhaar Card as proof of identity and to fulfil the Know Your Customer (KYC) requirements.
• Bank Account Details: The policyholder must provide their bank account details for the auto-debit of the premium amount from their bank account. Ensure that your account has a balance of over ₹330 to cover the premium payment.
• Consent for Auto-Debit: The applicant must provide consent for the automatic debit of the premium from their bank account by signing or providing a thumb impression on the relevant document.
• Other Supporting Documents: In some banks, additional documents are required, such as a PAN card or Voter ID card.

What is the application process for Bima Yojana?

The application process for PMJJBY is divided into two parts: online and offline. Both processes are discussed below in detail:
 

Online Process

• Step 1: Visit your bank's official website and locate the section for the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
• Step 2: Log in to your net banking account or use the debit card.
• Step 3: Click on PMJJBY on the bank's official website.
• Step 4:Complete the application form with the policyholder's and nominee's details.
• Step 5: Pay the premium and enable the auto-debit feature.
• Step 6: Verify the provided details with an OTP, which will be sent to your registered mobile number.
• Step7: After registration, you will receive a "Certificate of Insurance” from the bank’s official website.
   

Offline Process

• Step 1: Visit your nearest bank and obtain the "Consent and Declaration Form".
• Step 2: Complete the form with the required details, as well as the details of the chosen nominee.
• Step 3: Submit the completed form and the required documents specified by the bank.
• Step 4: The bank official will review your form and the documents and, if accepted, will hand you an "Acknowledgement Slip Cum Certificate of Insurance".
   

What are the benefits of Bima Yojana?

The key benefits of the PMJJBY are mentioned in the following section:

• Coverage for all Causes: The policyholder receives coverage for death that occurs for any reason and does not exclude homicide or suicide.
• No Medical Check-Up: The policyholder can enrol immediately without undergoing a medical check-up before purchasing the policy.
• Affordable Premium: The annual premium is only ₹436, making the scheme accessible to the low-income section of our society.
• Life Cover: In the event of the policyholder's death, the nominee is paid a lump sum amount of ₹2 Lakhs, providing financial coverage to the policyholder's family.
• Auto-Debit: The policy can be maintained as the premium amount is automatically debited from the policyholder's account.
   

The PMJJBY scheme is a commendable initiative by the government that benefits low-income groups in society. Apart from this, the premium is also very low, which makes it affordable for a large group of people. So, if you’re eligible for this scheme, go ahead and apply for it.
 

However, if you’re not eligible, at Star Health, we offer health insurance plans that are specially tailored for a wide range of health conditions, catering to your individual needs. We provide hassle-free claim settlements with less turnaround time across 14,000+ network hospitals in India.

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