Pramerica Life Pradhan Mantri Jeevan Jyoti Bima Yojana
Life Insurance at a nominal cost
Fixed Sum Assured plan without any medicals.
A Non-Linked, Non-Participating, One Year Renewable
Group Pure Risk Life Insurance Plan. UIN: 140G048V01
What is Pradhan Mantri Jeevan Jyoti Bima Yojana Plan?
UIN: 140G048V01
Presenting Pramerica Life Pradhan Mantri Jeevan Jyoti Bima Yojana
This is a Non-Linked, Non-Participating, One Year Renewable Group Pure Risk Life Insurance Plan. This product provides life cover at low cost to the members who are individual bank account holders of any bank/post office.
Why choose this plan
Learn more about the plan
Eligibility
Age at entry
Minimum: 18 Years last birthday
Maximum: 50 Years nearest birthday
Maximum Maturity Age
55 Years nearest birthday
Policy Term
One Year Renewable
Sum Assured
₹ 2,00,000 per member
Premium*
Month of Enrollment
Through Intermediaries#
Voluntary Enrollment by an account holder through electronic means
June, July & August
₹ 436
₹ 406
September, October & November
₹ 342
₹ 319.5
December, January & February
₹ 228
₹ 213
March, April & May
₹ 114
₹ 106.5
*Goods & Service tax, if any, will be charged over and above the quoted Premium. The premium may be modified on any annual renewal date or any other date as amended by the Government of India under the Pradhan Mantri Jeevan Jyoti Bima Yojana.
#Intermediaries can be Business Correspondent, Micro-insurance Agent, Corporate Agent, Insurance Agent or Insurance Marketing Firm
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Important information about the plan
In case of Death of Insured Member during the period of cover, the fixed Sum Assured of Rs 2,00,000 will be payable to the Nominee. In case the member under Pradhan Mantri Jeevan Jyoti Yojana is covered through multiple bank accounts/post office or life insurer, the insurance cover will be restricted to Rs 2,00,000 across all policies and the premium on the subsequent covers is liable to be forfeited.
• A Grace Period of 30 days from the Annual Renewal Date will be allowed. The insurance cover for eligible members will remain in force during the grace period, provided the policy is renewed by the Master Policyholder within the grace period.
• Re-instatement will be allowed provided the member fulfils the eligibility criteria and the terms and conditions as prescribed by Government of India from time to time in addition to the prevailing approved underwriting guidelines of the company.
• If the insurance cover is ceased due to any technical reasons
such as insufficient balance on due date or due to any
administrative issues, the same can be reinstated within
the grace period on receipt of full annual premium from the
member.
The Master Policyholder/Insured Member will have a period
of 30 days from the date of receipt of the Policy Document/
Certificate of Insurance to review the terms and conditions of
the Policy. If the Master Policyholder/Insured Member disagree
to any of those terms or conditions, he/she has an option to
return the Policy stating the reasons for his/her objection.
The Master Policyholder/Insured Member shall be entitled
to a refund of the Premium paid subject to a deduction of
a proportionate risk premium for the period of risk cover,
any expenses incurred by the Company towards medical
examination and the stamp duty charges, if any.
The insurance cover would be available for one year period from 1st June to 31st May for which option to join/pay by auto-debit from the designated individual bank/Post office account on the prescribed forms will be required to be given by 31st May of every year. Delayed enrolment for prospective cover is possible with payment of pro-rata premium as laid down in above eligibility criteria.
• Account holder attains age of 55 years nearest birthday on annual renewal date.
• Closure of account with the Bank/Post office or insufficiency of balance for debiting premium.
• On expiry of the date of insurance cover term for the member.
• On intimation/settlement of the death of the member.
• On non-payment of premium within grace period of 30 days.
• In case of multiple coverage under the scheme, the cover
will be restricted to Rs 2 lakhs and other insurance covers are
terminated and premium shall be forfeited.
Why choose Pramerica Life insurance?
99.29% claim paid ratio
Individual Death Claims Paid Ratio as per audited financials FY’26
125 Branches PAN India
As reported on 31st March 2026
Safeguarding 70 Lakh+ rising Indians
(Group+Individual) in-force lives as on March’26
Need assistance?
We are happy to help you. Talk to our expert and choose the right plan as per your needs.
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Disclaimer:
This product provides Life Insurance coverage. Pramerica Life Pradhan Mantri Jeevan Jyoti Bima Yojana UIN: 140G048V01. Goods & Services Tax will be charged over
and above the quoted premium. Tax Benefits may be available as per the applicable laws as amended from time to time. The brochure gives the salient features for the
product. Please refer to Policy Document for further details of the terms and conditions.
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