Secure life with SBI Life- Pradhan Mantri Jeevan Jyoti Bima Yojna, by simply logging into SBI online. Visit: https://t.co/rgMxxgJtO4— State Bank of India (@TheOfficialSBI) April 26, 2018
Here are all the details you need to know about SBI's PMJJBY scheme:
In case of multiple saving bank accounts held by an individual in one or different banks, the person will be eligible to join the scheme through one savings bank account only. Aadhar card number is the primary KYC for the bank account.
The cover shall be for one year from June 1 to May 31 for which option to join/pay by auto-debit from the designated savings bank account on the prescribed forms will be required to be given by May 31 of every year, said SBI.
Members may also give a one-time mandate for auto-debit every year till the scheme is in force.
One needs to pay a premium of Rs 330 per annum per member and is entitled for Rs 2 lakh on member's death due to any reason.
1. On attaining age 55 years subject to annual renewal up to that date (entry is not possible beyond the age of 50 years).
2. Closure of account with SBI or insufficiency of balance to keep the insurance in force.
Also, insurance cover shall not be available for death (other than due to accident) occurring during the first 45 days from the date of enrollment into the scheme.