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STATE BANK OF INDIA APPROVED IED AS A BUSINESS CORRESPONDENT

  • About PMJJBY
  • The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a one year life insurance scheme, renewable from year to year, offering coverage for death due to any reason and is available to people in the age group of 18 to 50 years( life cover up to age 55) having a savings bank account who give their consent to join and enable auto-debit.
  • Rs. 2 lakhs is available for a one year period stretching from 1st June to 31st May at a premium of Rs.330/- per annum per member and is renewable every year. It is offered / administered through LIC and other Indian private Life Insurance companies. For enrolment banks have tied up with insurance companies. Participating Bank is the Master policy holder.
  • Life insurance amount for your family is in your absence
  • All Savings bank account holders in the age of 18 to 50 years can avail the benefit of the scheme
  • Insure your family secure today

  • Investment
  • A small investment for a secure future Invest just Rs.330 per annum for Life insurance worth Rs 2 Lakh.
  • Post Mortem report & Death Certificate (In case of death insured)
  • Disability certificate from Civil Surgeon (In case of permanent disability)

  • PREMIUM
  • Premium to be deducted from member’s SB Account. The premium amount depends on the month of enrolment for the scheme
  • Month of Entrollment Premium Payable For Premium Amount Payable
    June, July & August Entire policy year i.e. 4 quarters Rs. 330/- plus applicable taxes, if any (This includes administrative charges payable to Banks which is currently Rs 41/- per subscriber)
    September, October & November 3 quarters Rs. 258/- plus applicable taxes, if any (This includes administrative charges payable to Banks which is currently Rs 33/- per subscriber)
    December, January & February 2 quarters Rs. 172/- plus applicable taxes, if any (This includes administrative charges payable to Banks which is currently Rs 22/- per subscriber)
    March, April & May 1 quarter Rs. 86/- plus applicable taxes, if any (This includes administrative charges payable to Banks which is currently Rs 11/- per subscriber)

  • Claim and Assurance
  • Disability claims by the insured and claims by the nominees in the unfortunate event of death of the insured may be filed under PMJJBY preferably within 30 days of the death at the bank branch having the underlying bank account in the prescribed claim forms along with the Death certificates
    • 3 EASY STEP OF CLAIM PROCESS
    • Approach any Bank Branch where the member was holding the account
    • Collect the claim form and discharge receipt
    • Submit the required documents complete in all respects to the bank ONLY
    • SIMPLE DOCUMENTATION
    • Original Death Certificate or Death Certificate attested by the Bank Branch
    • Claim form
    • Discharge Receipt
    • Bank Account proofs like cancelled cheque with the pre-printed name on it or photocopy of bank account pass book or bank account statement
    • CONTACT POINTS
    • Claim forms are available at SBI, SBI Life Branches or you may download by visiting SBI Life Website www.sbilife.co.in or Click here to download the application form
    • SBI Life Toll Free number 1800 267 9090 (Between 9:00 am to 9:00 pm)
    • For any information or assistance write to pmjjbyclaims@sbilife.co.in
    • Assurance
    • An assurance of Rs. 2,00,000/- on death of the insured member is payable to the Nominee

  • SUSPENSION OF RISK
  • If the insurance cover is ceased due to any technical reasons such as insufficient balance for payment of premium on due date, the same can be reinstated after the grace period on receipt of premium and a satisfactory statement of good health

  • TERMINATION OF ASSURANCE
  • The Assurance on the life of a Member shall terminate on an Annual Renewal Date upon happening of any of the following events and no benefit will become payable there under:-
    1. On attaining age 55 years (age neared birthday) on annual renewal date
    2. Closure of account with the Bank or insufficiency of balance to keep the insurance in force
    3. In case a member is covered through more than one account and premium is received by SBI Life inadvertently, insurance cover will be restricted to Rs. 2 Lakh only and the premium shall be liable to be forfeited
    4. The date on which the claim on insured member is settled by a bank in case the member was insured by more than one bank/ branch of the same bank where he/she was having more than one savings account