Prime Minister of India launched two schemes on 9th May 2015. These two schemes may not be helpful to rich or ultra rich. However, these schemes will definitely helpful to others. One is a Life Insurance product called as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Another is, Accidental Insurance product called as Pradhan Mantri Suraksha Bima Yojana (PMSBY). Let us the features of both these schemes.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
This is nothing but a pure Life Insurance product. However, please do remember that it is pure Life Insurance product. In case of sudden demise of the policyholder, the nominee will receive the sum assured available in this plan. If nothing happens to the policyholder, then no benefit or returns. Such plans are called pure life insurance products or Term Insurance products.
Never compare this product with products offered by LIC, where if the policyholder survives then you get some money at the end of a period. That is the reason such plans will be offered at lower premiums. It is necessary for all individuals who are earning and who have financial dependents.
Features of this plan are as below
Eligibility-
All savings account holders in the age group of 18 to 50 Yrs in participating banks will be eligible to join. Please remember, to avail this scheme you must have the savings account from the PARTICIPATING BANK. In case you have multiple savings account in one or different bank then the person is eligible to buy this product only through one savings account. Hence, you may say one-man, one policy.
You can continue this product up to the age of 55 years subject to the payment of renewal payment. However, an entry will not be possible beyond 50 yrs of age.
Life Risk Coverage–
Rs.2 lakh will be payable on the member’s death DUE TO ANY REASON.
Premium–
The premium will be Rs.330 per year. This premium will be auto debited from your savings account in one installment on or before 31st May of each annual coverage. In case you missed to pay the premium within 31st May in any year, then to renew it, you have to pay the premium and provide the self-certificate of good health. The premium would be reviewed based on the claims received and may be increased for you. However, the Government claims that barring unforeseen adverse claims, efforts would be made to ensure that there is no raise in premium if it is within 3 years.
Hence, do remember that buying this product and managing money on a particular ECS date is very much necessary. Otherwise, you may not get this life risk due to ill health or any other issues.
Enrollment Period–
Initially, it will be from 1st June 2015 to 31st May 2016. It will be a yearly renewable product. For this year, you have to provide auto debit consent before 31st May 2015.
Who manages this scheme?
Life Insurance Corporation of India (LIC) and few other Life Insurers will manage this scheme in coordination with participating banks.
How your premium will be broken up?
Life Insurance premium-Rs.289 per annum per member.
Reimbursement of expenses intermediaries like BC/Micro/Corporate/Agent-Rs.30 per annum per member.
Admin expenses to Bank for collecting the premium-Rs.11 per annum per member.
A few cases where your membership may be terminated–
- Once you attain the age of 55 Yrs.
- In case, you will not maintain the sufficient fund in your bank for auto debit of premium.
- In case, an individual covered under this scheme through more than one savings account. In this case, insurance coverage will be restricted to Rs.2 lakh only.
- Closure of your Bank Account.
Do remember that, in case you have life insurance from term insurance, endowment plans, ULIPs or under any group life insurance schemes, you still be eligible to be a member of this scheme.
You can download the Consent-cum-Declaration Form from HERE. Also, download the claim form from HERE.
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
This is the typical accidental insurance cover. It will be renewable on a yearly base. It is exactly like Health Insurance, where you have to renew it on yearly and you get the benefit only in case of an accident. This scheme offers accidental death and disability cover for death or disability due to an accident.
Features of this plan are as below
Eligibility–
All savings bank holders in the age of 18 to 70 Yrs in participating banks will be entitled to join this scheme. In case you have multiple savings account in one or different bank then the person is eligible to buy this product only through one savings account. Hence, you may say one-man, one policy.
Sum Insured–
Death due to accident-Rs.2 lakh.
Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot-Rs.2 lakh.
Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot-Rs.1 lakh.
Premium-
Rs.12 per annum per member. This premium will be deducted from the member’s savings bank account on yearly through an auto debit facility on or before 1st June every year. In case, you pay the premium after 1st June, then the coverage will commence from the first day of the month following the auto debit. For example, you paid the premium on 25th July then the coverage will commence from 1st August.
Enrollment Period–
Initially, it will be from 1st June 2015 to 31st May 2016. It will be a yearly renewable product. For this year, you have to provide auto debit consent before 31st May 2015.
Who manages this scheme?
This scheme will be managed by Public Sector General Insurance Companies and few other General Insurance Companies.
How your premium will be broken up?
Insurance Premium-Rs.10 per annum per member.
Reimbursement of expenses intermediaries like BC/Micro/Corporate/Agent-Rs.1 per annum per member.
Admin expenses to Bank for collecting the premium-Rs.1 per annum per member.
A few cases where your membership may be terminated–
- Once you attain the age of 70 Yrs.
- Closure of Bank Account.
- In case an individual covered under this scheme through more than one savings account. In this case, insurance cover will be restricted to one account and your other accounts paid as a premium will be forfeited.
- In case of insufficient of funds in a bank account.
You can download the Consent-cum-Declaration Form from HERE. Also, download the claim form from HERE.
My view on both the plans–
Finally, the days come where the Government or Insurance companies felt the importance of pure life and accidental insurance product. For many of us Life Insurance means a product, which combines Insurance+Investment. However, never thought to have pure life insurance coverage. Also, for many of us insurance means Life and Health Insurance. However, in insurance there are many varieties like Life, Health, Accidental, Critical, or Travel Insurance.
I know it may not be useful for those who may be reading this post (hoping your earnings are at a higher level and feel these schemes coverages of Rs.2 lakh a meager). However, there are many who are totally deprived of insurance due to not knowing the importance of insurance. I sincerely request all of those to spread this unique awareness and make them to be insured.
Even though I personally have enough Life and Accidental Insurance coverage, I still enrolling for this scheme. Hope you all too. Please ask your Banks to enroll within due date.
The official website of these schemes is www.jansuraksha.gov.in. National Toll-Free – 1800-180-1111 / 1800-110-001 and StateWise Toll-free numbers are listed in this document Statewise Toll-Free.
LIC’s new children plan 2015-Jeevan Tarun (Table No.834) Review
»
Vivek bhatlavande
5 month ago my father passed away due to accident. I enrolled for both pmsby and pmjjby.
But i got claim of only pmjjby and didn’t got claim of pmsby. As he was 52 years old. When i asked them for pmsby they(I was called on toll free no. For pmsby)told me that u can claim any one of them.
Is it true??
Basavaraj Tonagatti
Dear Vivek,
No, both are different. You have all rights to claim from both products.
RUPESH VILAS YERUNKAR
Thanks sir for reply us.
We open today 21/11/2020 PMSBY from SBI bank. They charged Rs. 258 but premium is 12. How they charged
Basavaraj Tonagatti
Dear Rupesh,
I think it is not only on PMSBY but along with that they charged you for PMJJBY.
Karthk
I have paid pmjjy through my saving account. Them my account will be jan dhan account or this will be normal saving account.
I am I eligible for 500 p.m which pm giving to people
Basavaraj Tonagatti
Dear Kartik,
By paying an insurance premium to PMJJY, the account will not be treated as Jan Dhan Account or normal account. Check with your bank for the same.
k.rajani
my husband expire on 4/6/2019.in house my hus having both 330and 12 policys. how many days to claim and receving money in my bank account.pls send immidiately
Basavaraj Tonagatti
Dear Rajani,
Hard to say the days. Hence, better to approach the bank immediately.
Dharmaraj Tamilrvam
Sir,my father account in sbi,his pmjjby insurance 330,policy start in 2015.
His was death in 19.08.2020,natural death.
I have inform to sbi branch. Sbi branch no help for claim.I have claim apply in sbi life insurance branch office.
This policy eligible for claim?
How to claim process time?
Any verification delay for claim ?
Basavaraj Tonagatti
Dear Dharmaraj,
I have replied to your email.
S PANDIYA RAJAN
how to change the nominee name in policy?
Basavaraj Tonagatti
Dear Pandiya,
Approach the bank and change the nominee.
Branch Manager
How to change nominee in PMJBY and PMSBY
Basavaraj Tonagatti
Dear Branch Manager,
You have to approach the concerned bank branch.
ayyaj
How to know my policy is started or not?
Basavaraj Tonagatti
Dear Ayyaj,
Check the status with bank.
Pradeep Pratap
how to get policy no?
how to change nominee?
Basavaraj Tonagatti
Dear Pradeep,
Contact the bank for the same.
Anand ghori Anand ghori
Pmjjby closes my no dibet for icicibank no renewal please
Basavaraj Tonagatti
Dear Anand,
Approach the bank.
n nagaraju
how to change debit option from one bank account to another bank account?
Basavaraj Tonagatti
Dear Nagaraju,
You have to do that by the help of insurance company.
Manjunath B M
hi sir my dad is death on 01/05/2018 due to heart attack in home and my have 12rs PMSBY insurance it will be claim or not. please responce to my concern
Basavaraj Tonagatti
Dear Manjunath,
NO as the death not occurred due to an accident.
STALIE MICHAEL
HOW TO CHANGE NOMINEE IN ONLINE
Basavaraj Tonagatti
Stalie-Online not possible.
Vivek
I have enrolled PMJJBY scheme in 2015 itself through SBI. Now I want to cancel the scheme. If I cancel it, can I get the amount back which was paid for 3 yrs (330*3=990)?
Basavaraj Tonagatti
Vivek-No. You will not receive any amount back.
Taaan
Hi sir , my mother expired recently she had both the plan with hdfc bank for rs 330 and rs 12 . I have already applied for the claim sir . But we do not know whos the insurer . How can we track the claim ?? How can one find whos the insurer . Bank is also not helping us !! Please help
Basavaraj Tonagatti
Taan-Use the above-shared contact information.
Mayank rathore
Sir, under Prime Minister’s Protection, if a person dies in Gujarat state and he is from the state of Madhya Pradesh, then he has to translate death certificate, police report, post-mortem report from Gujarati to Hindi or English.
Basavaraj Tonagatti
Mayank-Sadly YES.
swaroop
Sir,
I need to change my nominee name for Pradhan Mantri Suraksha Bhima yojana, what is the procedure for doing it. Is there any request form I need to submit?
Basavaraj Tonagatti
Swaroop-Not sure of form. But use the toll-free number and can change it.
swaroop
THANK YOU SIR
Hitiksha
Sir I have a account in Dena bank and I want to change my bank to Kotak and continue the same Pradhan mantri Bima Yojana what I need to do
Basavaraj Tonagatti
Hitiksha-I am not sure about this process. Using above customer contact numbers, you can do the same.
Ashokreddy
Hai sir in my village one person pay the 330 rs and 12 rs he is dead in road accident he is how much amount namini got 200000 ? Or 200000+200000 ?please tell me sir
Basavaraj Tonagatti
Ashok-Rs.4,00,000.
Rakesh
I want to know whether the nominee under Pradhan Mantri Jeevan Jyoti Bima Yojana will be eligible for claim even if the death is due to accident, since PM has launched different insurance scheme for it.
Basavaraj Tonagatti
Rakesh-Yes, under PMJJY, you can claim if the death of the insured occurs either due to normal or accident.
Sh
Hello Sir , I want to cancel my insurance PMSBY Scheme I had met with Vijaya Bank Manager but he denying to do so please advise where I can contact for deactivation of these scheme
Basavaraj Tonagatti
Dear Sh,
You have to do the same with Bank only by submitting the cancellation of auto debit.
Neha Singh
My father got deceased on Sep 15, 2017 due to brain hemorrage in hospital after surviving for 15 days. Family recently got to understand that he has invested in Pradhan Mantri Suraksha Bima Yojana from KMB. Will the nominee be eligible for the claim under the policy? Pls guide
Basavaraj Tonagatti
Neha-In case of PMSBY, the benefits will be payable if the insured dies due to an accident. Refer to post properly.
gaurav patel
Sir, I have taken both policy through SBI. I submitted for Closure process, but SBI say they are no any procedure for closing related & money deducted even closer request. I have to continue even not requirement. i contact to help center sbi but no any response from there. i need to complain to top level so how can i ?? please give advice about ..
Basavaraj Tonagatti
Gaurav-Raise the issue with Banking Ombudsman.
gaurav patel
i want to go for irda, is it valuable ??
Basavaraj Tonagatti
Gaurav-You can try your luck.
Narayana swamy Ramaiah
Dear sir,
I given one year back request for cancellation of auto debit to PMJJBY but still not done , bank people telling once you get SMS run to bank before deducting , how its possible in this busy life. I given twice request, shall i fight in consumer forum for ( 330+330+ service tax).
Basavaraj Tonagatti
Narayana-You have all rights to fight.
Anil
Sir g mere fathar ki pmsy ki ankownment form bank ki taraf se nhi di gai hai iske liye hume kya krna chahiye
Basavaraj Tonagatti
Anil-Contact the above-shared toll-free number and clarify this.
Shanmugam
Under Pradhan Mantri Suraksha Bima Yojana (PMSBY) cover only accidential case if death is not happend by accident is it possible to get money from this policy what we pay to this scheme.
2. under pradhan mantri jeevan jyoti bima yojana the amount will be get if death happend by any type and at any age
Basavaraj Tonagatti
Shanmugam-1) If death occurs due to an accident, then you can claim under PMSBY.
2) YES.
S.Tamilselvan`
Sir,
Can we Join for both
330 Rs (Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)) and
12 Rs (Pradhan Mantri Suraksha Bima Yojana (PMSBY))
Insurance schemes together for a single person?
Is there any problems?
Basavaraj Tonagatti
Tamilselvan-YES. There will not be any problem if you subscribe to both schemes.
S.Tamilselvan`
Thank you sir….
Amit. G. Dave
Mera email google se joint he. Vo reject hota he.me heran hu.muje puri madad kare.RBI aur dusare givernment fieldme phone n lage.modijiji ko malum kare.
Basavaraj Tonagatti
Amit-How can I help you?
Pintu mandal
Maine pmjjby ke thet claim kiya tha hdfc bank m 26th February 2017 ko par mujhe koi update nhi mil rahi h bank m jao to khete h humne aage paper bhej diya h aage pata kijiye to hum kya kare
Basavaraj Tonagatti
Pintu-You have to either contact bank or the toll free number of the PMJJBY.
Amit kumar
Sir I whant to stop Jeevan Jyoti Bima Yojana.
How can do it please help me.
Basavaraj Tonagatti
Amit-Request your bank to cancel the auto debit instruction.
shaji kutty thomas
Sir I whant to stop PMSBY
How can do it please help me.
Basavaraj Tonagatti
Shaji-Give the request letter to your bank for stopping auto deduct option.
KS Reddy
can’t we cancel through a site or call to SBI, Is it mandatory to go to bank
Basavaraj Tonagatti
Reddy-Yes, physical application submission is required.
Mahadev
If we are taking this policy online then why you have not provided online option to stop this policy if we don’t want to continue?
Mahadev
I think you have deliberately not given this option to stop this policy.
Basavaraj Tonagatti
Mahadev-ME or Govt?? 🙂
Basavaraj Tonagatti
Mahadev-ME or Govt?? ?
Sakariya
I don’t give any written or oral application to start this insurance, but the bank deducted my amount. I give a complaint and the manager refunded it. But next 2 years they deduct renewal fee. I give complaint letter again and they refund the same next year also. They said no option to stop this policy. My bank is SBI. What can I do?
Basavaraj Tonagatti
Sakariya-Without your consent they can’t deduct the money on their own. In my view either you have given the written application or clicked the link (if you have internet banking facility). Also, bankers are claiming false here. You can stop the policy as and when you need.
Sakariya
I was working as Account and I was a regular customer of SBI at that time (going 2-3 times everyday, also all staff are my friends). And also I submit many applications of my colleagues to start this policy. I think that is why they deduct from my account also.
Basavaraj Tonagatti
Sakariya-How can your friend’s request be treated as YOUR’s and they start deducting money from your account? It is impossible.
Gaurav Patel
Sir, I have taken both policy through SBI. now I submitted for Closure process, but SBI say they are no any procedure for closing related & so I have to continue even not requirement. what should I do next ?? please guide me.
Basavaraj Tonagatti
Gaurav-You request for ECS cancellation. Both will cancel automatically.
KRISHNA KANTA KUNU
Dear sir,
We enrol PMSBY THROUGH SBI NET BANKING & GATE THE CODE NO. LIKE SBIN… BUT NOT GETING ANY POLICY DOCUMENT, KINDLY ADVICE HOW I CAN GET THE POLICY DOCUMENT.
Basavaraj Tonagatti
Krishna-Check with bank or call above mentioned customer care number.
Guruswamy
Iam in few day to do operation one knee ligmentear can I eligible to recive clim
Basavaraj Tonagatti
Guruswamy-In which product?
sourabh
hi, i have PMJJBY and one other term policy, so in case of claim how can nominee submit Death certificate for both of them.
Please suggest.
Basavaraj Tonagatti
Sourabh-You can get death certificate as many as you wish (in our state but not sure in your state).
Manish kumar
How can i enroll online thru mobile call or sms to pmsy with SBI saving bank a/c……………
Pl suggest…..
Basavaraj Tonagatti
Manish-As of now NO.
Prashant
can I activated these Pradhan Mantri Suraksha Bima Yojana (PMSBY) on two different bank account? Eg. State bank of India & Bank of India
Basavaraj Tonagatti
Prashant-YES.
P Mandal
But you can not get advantage for both insurances. Benefit of two lac rupees will given for one certificate.
Basavaraj Tonagatti
Mandal-Both are separate and can be claimed in case of death.
Basavaraj Tonagatti
Mandal-Both are different products (one is life and another is accidental). Hence, based on plan features of both, you can claim at both side.
Sajal Kumar Dey
I am EX IAF retired having applied for the PMSBY using my SBI net banking with reference no. generated for the same. But the acknowledgement receipt is showing as ” NOT APPLICABLE” in the social security scheme link where one can view the status. Without acknowledgement can the scheme be applicable to claim for the same in future in case of any accident??? Please do advise.
Basavaraj Tonagatti
Sajal-Check with bank of what went wrong (or with insurer if you know the company). If the status is not showing as ISSUED, then it is hard for you to get the claim.
Jagadeesh
sir, same problem faced by me. Did you get any solution for this?
Govardhanan T S
Sir, How I can change my contact number in both PMJJBY & PMSBY. I registered both Policy from ICICI bank. I contacted the branch, they said that I have contact customer care. is that correct?
Basavaraj Tonagatti
Govardhanan-YES.
Gocardhanan t S
can you please provide the customer care number…?
Basavaraj Tonagatti
Govardhanan-It is already available in above post.
ankit jha
my grandmother has expired and i have subscribed pmsby but she die by snake bite and we have not done posmatom and they are asking that but when i ask they also have option that another option we have complete and but know they are saying to bring posmatom
Basavaraj Tonagatti
Ankit-I am unable to understand of what is your concern.
Anand Bhadoria
Can i Change nominee details of my PMSBY and how can i changed the same please Gide me
Basavaraj Tonagatti
Anand-Yes, you can change. Contact the bank or the concerned insurance company for the same.
Vinayak Yadav
Sir I am Handicap student ..My account is in Bank of Baroda ..They told me handicap cannot apply for PMSBY . Is it true ?? ..All person can apply .why not handicap cannot apply ..pls help me.
Basavaraj Tonagatti
Vinayak-There is no such rule which mentioned anywhere. Hence, either let them show the rule or else let you to enroll.
PRATIK SWARUP GUCHHAIT
Dear Sir,
I have applied for PMJJBY & PMSBY. After 1 year, I found this is useless & I wanted to stop it. Accordingly, I have applied in bank. But both of the insurance is not stopping & it is deducting money. I want to stop these.
Pls. suggest me how to stop this without closing my bank account.
thanks,
Pratik
Basavaraj Tonagatti
Prathik-The solution is to request bank for ECS.
PRATIK SWARUP GUCHHAIT
Dear Sir,
My father had PMSBY, my dad has been died by septick shock, I submitted all documents in bank & the bank personnel also forwarded the documents & they are telling it has been accepted. It happened 1 year before. After that, there is no information about the claimed money. Infact bank people also does not have any information. Could you please, suggest me, what can I do?
Basavaraj Tonagatti
Pratik-Find the insurer with the help of bank and directly contact the bank.
Sunitha
Hi,
Myself Sunitha lat year my brother expired i remember that he was telling dat he had made the Pradhan Mantri yojana now i need to know in which bank he has opened the insurance policy ,Sine he has 2-3 bank account when i went to bank and when i enquired about it dey told me that they cant check whether he had made any Pradhan Mantri yojana.
Please let me know how would i check in which bank e has made the yojana.
Basavaraj Tonagatti
Sunitha-It is hard. But if you have access to his earlier bank statements, then you can track it easily.
Sunitha
No i don’t have it .Is there any other way for this .
Basavaraj Tonagatti
Sunitha-Hard to find but if bankers help then you can.
Abhishek Dubey
Dear Sir,
One of my client died on 29 July 2015 , his family submitted all required document to bank where client maintain his account & deduct policy amount (Central Bank Of India ), in December-15 bank told to resubmitted the all document and client family again submitted the document still family not received the claim amount,
Which type of policy you are providing the people or only collect the amount from bank account & when any person ask for claim you just clear your hand ,
Also bank not support the client family, they are continuously coordinate with bank and bank told for complaint online , they are illiterate and think that PM give us any good facility but now they want his claim amount and bank or all not response them because they are illiterate , its not good please find below detail or help to him ASAP .
Policy No : LICCBINXXXXXXXXXX
PREMIUM AMOUNT : 330
NAME: MR VINOD NAMDEO
BANK: CENTRAL BANK
FAMILY CONTACT NO : XXXXXXXXXX (MUKESH )
Thanks & Regards,
Abhishek Dubey
Basavaraj Tonagatti
Abhishek-You have to contact the insurer also, why you are waiting?
SK
Why don’t you provide details about the insurer sir? Do you really think it’s possible for a layman to reach the insurer? What’s the bank manager doing in this case?
Basavaraj Tonagatti
SK-How can I know which insurer issued to each individual? Bank Manger know who is the insurer but not ME.
SK
Oh, I thought as you did so much research about this, you probably know the main concern, who’s the insurer and how to reach them 😉
Shobhnath Kushwaha
my sister in law dead on road accident she had account in pmjjby and pmsby what amount her nominee will recieve
Basavaraj Tonagatti
Shobhnath-Rs.4 lakh.
Shobhnath Kushwaha
But we received only 2 lakhs , we had applied for both what can we do now
Basavaraj Tonagatti
Shobnath-Check with them.
Ashwini
Hi Saurabh,
Say in cases the insurer is met with accident with critical injuries and survived. So can be request for claim to settle medical bills.
Basavaraj Tonagatti
Ashwini-Medical bills will not be reimbursed. However, in case of total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot-Rs.2 lakh and in case of total and irrecoverable loss of sight of one eye or loss of use of one hand or foot-Rs.1 lakh will be receivable as compensation amount.
Ashwini
but i had a word with executive Maharashtra on the toll free nos listed. They assured in case damage is critical relief of half amount is assured.
Basavaraj Tonagatti
Ashwini-I am not sure about their claim. But as per my knowledge I updated the same by referring the product feature.
sourabh
my father my died by heart attack can we apply for clain of pmsby
Basavaraj Tonagatti
Sourabh-NO.
Sanjay
You can claim under PMJJBY if he is below 50 yrs. and if he has opted for it.
KARTHIK
Hi sir ..
can we claim PMJBY for a heart attack or only for accidents.. plz reply me
Basavaraj Tonagatti
Karthik-PMJJBY is a typical life insurance product. Hence, only deaths are covered but not diseases.
Dharil kothari
I have to bank accounts SBBJ and ICICI.
I register for Pradhan Mantri Suraksha Bima Yojana and
Pradhan Mantri Jeevan Jyoti Bima Yojana on SBBJ bank account.
Now i want to close my sbbj account and want to transfer this coverage to ICICI bank.
Is it possible if yes then what is the process.?
Basavaraj Tonagatti
Dharil-Instead of closing, you can opt for ICICI Bank ECS.
Dharil kothari
Actually i don’t want my sbbj account any more.But want to continue Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana. Please tell me process to opt for ICICI Bank ECS.
Basavaraj Tonagatti
Dharil-Contact the bank.
Dharil kothari
Thanks
Shikha
Hi,
If our parents has enrolled to PMSBY but they also have a medical insurance cover provided by the organization where I work. So in that case , if any accidental death happen, Can we claim for the amount from both PMSBY and other insurance. Or we can claim from any of the one?
Basavaraj Tonagatti
Shikha-You can claim from both.
shikha
Mr. Basavaraj,
Thanks for the quick reply!!
Basavaraj Tonagatti
Shikha-Pleasure 🙂
Pijush Kanti Mishra
Sir,
I have not received of Rs:330 & Rs:12 certificate as on date after completed two years.
Kindly help me.
Basavaraj Tonagatti
Pijush-Contact your bank or the above said toll free number.
Laxmi Narayan Vyas
In May 2015, Mene ICICI bank se PMSBY, yojna mey SMS Dwara polisy le the, no deduction from my account and no response regarding the said policy. from L. N. Vyas, Bikaner
Basavaraj Tonagatti
Laxmi-check with bank.
Anil kumar chaudhary
I already registered myself in PMSBY through ICICI bank through S. B. Account. But I have no documents for this policy. How Can I get any policy paper or any other documents regarding PMSBY?
Basavaraj Tonagatti
Anil-Contact either bank or above mentioned toll free number.
santhosh
Sir we have a pmsuraksha bhina policy we did it for my father one year back and we reneaveld it for this year also but my father was death naturally 25 days back can we claim the policy my father’s age was 67 years
Basavaraj Tonagatti
Santosh-YES.
keshav
Sir plz tell me .
I am having my certificate no.of pmsby but I don’t know my customer id and plz tell me this also how could I find out all my details of pmsby. Plz tell
Basavaraj Tonagatti
Keshav-You call to insurer for the same.
Govardhanan T S
I have registered in PMJJBY & PMSBY from 2015 June through SBI bank. I have received the Policy certificated for PMJJBY for 2015 & 2016. However how can I get Policy certificate for PMSBY. is there any Email id is available. Please advise.
Basavaraj Tonagatti
Govardhnan-Check with your employer.
Govardhanan TS
Employer? who is the Employer? you mean the Bank?
Basavaraj Tonagatti
Govardhanan-Sorry, contact your bank.
Nikesh Patel
Hello
I have two SBI accounts at different locations. Now I want to transfer one of the account and CIF number to another account where my both PMJJBY & PMSBY is activated. On transfer what will be the status of my these policies. From where auto debit will be carried out?
Nikesh Patel
Note: Policies are currently into account which is to be transferred
Basavaraj Tonagatti
Nikesh-If the ECS mandated account closes, then the policies will be lapsed. Hence, request for ECS from the account, which you want to continue.
KANWAL JIT SINGH
SIR
I HAVE A POLICY IN PMSY SINCE ITS STARAT DATE FROM SBI AND MONEY IS DEDUCTED 2ND YEAR ALSO. I NOTICED THAT THE PARTICULARS OF THE NOMEE IS NAME WHEREAS I HAVE GIVEN NAME OF NOMEE OF MY WIFE IN ALL ACOUNTS EVEN IN RELATED ACCOUNTS OF PMSY. APPROACHED BANK ALSO , NO SOLOTION, HOW I CAN GET IT CORRECT, PL ADVICE
REGARDS
Basavaraj Tonagatti
Kanwal-Then you can contact the insurer directly.
CHANDAN DASGUPTA
IS SUCIDE BY HANGING IS COVERED IN PMSBY FOR CLAIMING THE INSURED MONEY.PLEASE INFORM
Basavaraj Tonagatti
Chandan-Usually suicide clause will be applicable in regular life insurance after a year. But I am not sure about these two. May be same rules.
G.sridevi
I joined in the pradhanamanthri jjby policy certificate in last year may in icici bank. But they are debiting 330from my account from 2 yesr .but iam not having sny policy certificate. They are not responding properly. I called customer care service.but no use.i need policy certificate. If not I have to cancel how can I do this. Please reply.
Basavaraj Tonagatti
Sridevi-Call to Toll Free numbers mentioned in above post (at the end).
GIRISH PAI K
Dear Sir
I am already paying insurance premium from last two years for PMSBY and PMJJBY through my SBI account. But I have not received my insurance policy till date. When I enquired with SBI, they do not have any answer.
Will I get this online or is it not issued till date. pls help me in this.
regards
Dr Girish Pai K
Basavaraj Tonagatti
Girish-The only point is to contact Bank.
Chintan
Dear Sir,
I am having 2 savings account in Different Bank. Last year I opted for PMJJBY & PMSBY from one of the bank & Premium is deducted regularly.but this year without my consent the other bank has deducted my Premiums for both the policy. Is it possible to get refund from anyone bank. What is the procedure to take refund? where should i file my complaint?
Basavaraj Tonagatti
Chintant-You can’t get back. But you can question how they deducted without your consent.
Anand Prakash
Sir, my mother take both pmjjy & pmsby from central bank of India. Due to road accident she death 11th of June 2016.which one i calim & is my policy is eligible for both policy benefit?
Basavaraj Tonagatti
Anand-Yes, eligible for both.
Mishra ji Dubai
Sir, mai dono policy liya tha but mai Rs.330 wala policy close karna chahta hu,or mai 31st may ko bank balance 50 rupye kar diya to mera Rs. 12 wala policy auto debit ho gya, kya mai agr bank me paisa fir dalunga to fir se Auto renew to nai hoga Rs.330 wala plan??
Basavaraj Tonagatti
Mishra-No, it will not auto-renew now.
Mishra ji Dubai
How Quick.. waw
Thank you for swift response…
Krishnamohan Yadav
wrong, its same condition is my. i am also withdrawal all money in my Releted Account of PMSBY & PMJJBY. but after 31 may 2016 date in that account in no money. but just i deposit some money in my account in 12 june 2016 than he deducted 330 & 12 RS in my account on yesterday.
any body help me how to deactivated any one Service in my Bank account.
Basavaraj Tonagatti
Krishnamohan-The ECS will happen on the particular date but not on whenever you deposit the money. Contact the bank if such things happened.
Bablu sony
Sir my mother taken a pmjjy policy on 09-05-2016 unfortunately my mother death on 21-05-2016 can i claim this policy or please send me a mail or cal my mb 09063112675
Basavaraj Tonagatti
Bablu-If the policy issued date is before the death of your mother, then you can claim the insurance amount.
subho
hlw sir meri papa ne 330 ka policy liye hain 30/05/2016..or un ki died 03/06/2016 main ho gaya kya main unki 330 ka jo policy hain uska CLAIM pasakung gaa..plz sir ans…
Basavaraj Tonagatti
Subho-Yes, only if the policy commencement date is before 03/06/2016.
subho
sir kya main 200000 kya claim pasakung gaa…
subho
hlw sir main ne bank giya tha..bank bale ne bola apki papa ne jo policy kiya hain 30/05/2016 uska claim jo 03/06/2016 app nehi payengee .. jo date se kiya hain 45 days main kichu hota hain up uski koye claim panengi nehi …haaa apki papa …30/05/2016 jo policy kiya hain uski 45 days gujar jani kain bath died hojathi hain app claim paa sakthi hain..
policy jo date se app kar rahin hain uski 45 days main kuch hota hain up koyi claim nehi payengi nehi…
Basavaraj Tonagatti
Subho-Let him show the 45 days rule in policy document.
Basavaraj Tonagatti
Subho-I already replied.
ALOK KUMAR
HII SIR..
I AM NEW TO THESE POLICY .ACTUALLY SIR I WANT TO ASK YOU THAT CAN I APPLY FOR BOTH THE POLIC PMJJBY AND PMSBY.AND IF IN CASE I CAN DO IT THEN CAN I CLAIM FOR BOTH THE INSURANCE POLICY AT A TIME.
Basavaraj Tonagatti
Alok-Whether to subscribe to both or not is purely depends on you. However, yes, if subscribed to both and death happens means your nominee receive the money from both the policies.
Abhilash
Sir i want to pay premium of pmjjby and pmsby from other bank ac, my ac at icici bank where i enroll, but restriction of minimum balance i want to close, now i pay from other sb ac. and how
Basavaraj Tonagatti
Abhilash-You have to register the new bank first then you are eligible to pay.
Arun Sahu
I am Arun Sahu, my father name is Shiv Kumar Sahu who has died on 28-Nov-15 in a road accident & having account in SBI, Yashoda Nagar, Kanpur, Uttar Pradesh & taken the PMSBY policy, i have submitted all the required documents with required concern filled form with my mother (Sudha Sahu) signature in above mentioned SBI branch in the guidance of assistant branch manager in very next days of death of my father, after so many days, i have received a letter from above mentioned SBI branch in which again asked for same documents so i visited in above mentioned SBI branch and again i have submitted all the required documents with required concern filled form with my mother (Sudha Sahu) signature but still not got any proper response.
?I have received from above mentioned SBI branch only a registry number as per above mentioned SBI branch register in which above mentioned SBI branch has send all the documents to National Insurance Company Limited, PMSBY HUB Jeevan Bhawan.
So request you to kindly help & do the needful for the same so that we can give up from the same.
Basavaraj Tonagatti
Arun-Why not you directly contact National Insurance Company?
POOJA
hello sir,
my state bank saving account is rs. 12/- auto matic,
but i don’t have any form and right to sbi bank..i fill form in our other bank indian bank
both bank debited rs. 12/- in my account…
how can remove sbi auto debit facilities
Basavaraj Tonagatti
Pooja-Request for ECS audo debit stoppage letter to SBI.
Sanjay kashyap
Sir meri sister NE pmjjy bank SE liya that aur uska Rs 330 bhi a/c SE kata gaya hai…
Meri sister ki death policy lene ke 41 day ho gaya
Kya uske nomini ko claim milega
Basavaraj Tonagatti
Sanjay-YES.
Shitesh kori
Sir mere bhai ki pmsby aor LIC dono me policy he. Kya mai dono claim kar sakta hun.
Basavaraj Tonagatti
Shitesh-When he is living means how you can?
Sharad
last year i applied. but this year i dont want this scheme. so what i should do
Basavaraj Tonagatti
Sharad-Request your bank to stop ECS.
rajib karmakar
Sir,may Bsf may hu,muja 1 sal ho gaya 330,12 dono policy kiya hua,abhi take bond paper nahi mila hay.may RAJESTHAN barmer 37 Bsf Kay jawan hu.
Basavaraj Tonagatti
Rajib-Contact Bank.
Surjeet Gill
A person entering the PMJJBY at the age of 50 has paid only one premium. Say, the person dies the same year once the premium is paid in full and policy enforced, will he get claim with the payment of one premium?
Basavaraj Tonagatti
Surjeet-Yes, without any doubt.
pradeep kumar G
dear sir insurance 330RS and 12Rs bond is not came.. please help me
Basavaraj Tonagatti
Pradeep-Contact Bank. It is the case with many.
Bablu sony
Sir how to claim pmjjyp send me the proseseure
Basavaraj Tonagatti
Bablu-Refer my earlier post “How to claim Pradhan Mantri Jeevan Jyoti Bima Yojana or Pradhan Mantri Suraksha Bima Yojana?“.
anish
I am having both pmjjby and pmsby policies. I would like to cancel.both. i contacted my bank..they replied they are helpless to cancel. How can i cancel my policy..
Basavaraj Tonagatti
Anish-Simple, write a letter to bank to stop ECS. Both the policies will cancel automatically.
karthikeyan
Sir,
I taken both pmjjby and pmsby policies in one private bank. Now I will go to close my bank account. How can I move both policies to other Bank.
Basavaraj Tonagatti
Karthikeyan-You have to write the insurer about bank change (I hope you received the policy documents).
ANNIKA
Several banks are deducting Rs 12 from my account towards PMJBY without my permission. How to stop these bl00dy deductions? In spite of complaints they keep debiting.
Basavaraj Tonagatti
Annika-You have to give written instruction to stop such ECS.
pankaj pathak
Sir i want to know if i have closed account then what happened of pmjjby and pmsby scheme ?
Basavaraj Tonagatti
Pankaj-Both policies will be lapsed as you not paid the premium.
Dharmender
Sir i m taking PMJJBY@330 per annum . Or mera sbi bank branch haryana me h. Lekin maine pmjjby scheme ko Imphal. Manipur k sbi bank se liya h. Or mera 330 rs bhi imphal sbi me hi deduct hota h . Kya mai is scheme ko haryana k apne sbi branch me transfer kar skta hu. Plz detail me
Basavaraj Tonagatti
Dharmendar-Yes, you can. Contact the Haryana SBI Branch.
Kishore
Sir,
I need your suggestions regarding baby schemes. My baby girl age is 20 days. Which are the best schemes for long term. I can spend 5000 per month. can you suggest men LIC schemes or fixed deposits or any postoffice schemes.
Right now I have only idea about SUKANYA SAMRIDHI scheme. Other than this i have no idea. If you give your suggestions, It ll be great help for me.
Basavaraj Tonagatti
Kishore-Stay away from any baby schemes. Start investing in mutual funds and buy term insurance to protect your life.
kishore
Thank you soo much for your valuable suggestions. I need to R&D about mutual funds. Can you give me small example how it will be.
Basavaraj Tonagatti
Kishore-It is vast subject. How can I give everything in comment section?
Kishore
I Applied for both Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) from Statebank of india. But now download acknowledgement is showing “notapplicable” . What does it mean.
Basavaraj Tonagatti
Kishore-You have to contact the banker.
Kishore
Thank you Basavaraj for very quick response 🙂 As per the SBI customer care, We need to contact local branch(where we have account). Right now I am far away from that.
Not only for me. For my sister’s account also showing like that. Do you have any idea about that is this schemes are in active or not? It will be great.
Basavaraj Tonagatti
Kishore-It is hard for me arrive at decision. That is the reason, I said contact bank.
Pradeep Sharma
hi Kishore has the problem resolved as i too face same problem. what bank says?
Vijay
Hello sir,
I am 47 years old men I want enroll for pmjjby .
After I am attaining 55 yrs what will happen
Means they said that after attaining 55 yrs your membership will be canceled I did not understand this .
Whether I will get money when I attain 55 yrs of age
Pls clarify
Basavaraj Tonagatti
Vijay-No, you will not get any money back. Because these are pure risk-taking products.
rashmi ranjan panda
sir i have not summited adhar card with pmjy policy and pmsby.then there is any issue or not and can i get policy aggrement paper in soft or hard copy..pls reply on my mail id.
Basavaraj Tonagatti
Rashmi-Better you now submit it. No, it will be in hard copy.
Sudhakar Chopra
Sir, As soon as PMJSBY started, I went online and bought one on 29 Jun 15 online from SBI. The money got deducted, but I did not receive any documents, online or otherwise.
What can be done?
Basavaraj Tonagatti
Sudhakar-Contact your bank. It is the case with many people.
M.SURESH
i hv submitted application to STATE BANK OF INDIA ,ERNAKAULAM FOR PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA and PRADHAN MANTRI SURAKSHA BIMA YOJANA.Premium amounts deducted in june,2015 and policy copy recd from bank.noticed nominee name ie my daughter name spelled out in thePRADHAN MANTRI SURAKSHA BIMA YOJANA policy wrongly whereas the other policy it was correct.when approached for correction, bank officials informed unaware of the procedure,they only deduct premium,due to GOI pressure to handle that work,nothing more than that.I gave a letter to bank in writing and got acknowledgement in july 2015,but no action till date despite personal enquiries with bank officials and also various mails to SBI LIFE AND teletalks. My application copy and savings bank account clearly spells the correct name.In case of any future claim,this typographical mistake in name done at the level of bank/national insurance,difficult fir settlement.pl suggest ways for getting correction in nominee name.
Basavaraj Tonagatti
Suresh-You personally visit to SBI LIFE and rectify it. No option.
pawar p.j.
Sir kya ham pmjjy ko multiple kar sakte hai
Basavaraj Tonagatti
Pawar-NO.
K.r.chakraborty
Sir. My wife having pmjsby of 12 rupees. She met on accident and died on the spot on 27 09 2015 . I have submitted claim on 15 10 2015 just after 18 days. But till date 26.02.2017 i did not receive payment. I have already complain to bank and chairman but not to avail.whom should i complain now.prime minister or finance minister. Please advise.
Basavaraj Tonagatti
Chakraborty-Write to PM and make sure your bank also must know this. They need a heat treatment. Please do it at the earliest.
Ankita Singh
Dear Sir,
My DOB is wrong in my pmsby certificate. Please advise me that how can i change my DOB & it is possible or not.
Awaiting yours
Regards
Basavaraj Tonagatti
Ankita-Yes, you can change it.
r.srinivas rao
SIR,my sb account was debted for rs 12 under PMSBY scheme ON 1-7-2015.but so far i did not receive the policy .when i enquired in the sbi bank they asked me to contact you .please suggest ways to get the policy .my SBI ACCOUNT NO IS 8571980 2157,DILSUKNAGER BR HYDERABSD ,TELANGANA.
amounnt of rs 12 was deducted from account on 01-07-2015.if possible please send copy of said policy
,
Basavaraj Tonagatti
Srinivas-They suggested to contact me? I am not authorized person to issue that policy.
Abhi
Hello,
Are both schemes of Pradhan Mantri yogna tax benefited? Though it looks small amount but still.
Also i am unable to find or get the enrollment receipts/acknowledgement letters for my enrollment. Where do i get them from
Basavaraj Tonagatti
Abhi-ONLy PMJJBY is eligible for tax benefits. You contact your bank for receipts.
Satya
Respected Sir,
My self Satya, I have enrolled for bith the schemes through my online banking account and money has been deducted from.my account rs. 12 and rs. 330. And I can see under social security tab that it is shwing the two schemes active but should I get any policy papers from the bank (SBI, Delhi University branch) ?? Or the auto dedudcted money in pass book wud be the proof.
Basavaraj Tonagatti
Satya-I think they will not send if the status is available online.
Shrikar
Hi Sir, I am 25 years of age, and working for monthly salary in a private company. I am paying income tax every year.. In this case, am I eligible to PMSBY and PMJJBY..? Because I understand that these schemes are only for the benefit of poor. So, can the middle class, upper middle class, high class people and regular IT payers shall avail these schemes??
Basavaraj Tonagatti
Shikar-Yes, you are eligible. But think twice of what will be the value of Rs.5,000 when you retire.
Sadanand Giradkar
Dear Sir
Which type of accident cover under this Bima yojna. is snake bite death Comes under pradhanmantri suraksha bima yojna. Please mention.
Basavaraj Tonagatti
Sadanand-Please go through the policy document to understanding about the covering and exclusions.
p.sarkar
sir, can we open pmjjby from any branch of my bank,or i have to open in my particular branch.
Basavaraj Tonagatti
Sarkar-For better service, I suggest to open in your branch.
vamsi
Sir, my mother applied for PRADHAN MATRI SURAKSHA BIMA YOJANA ON 27th May 2015. The Indian Bank authorities debited the amount of Rs.12 on 02nd June 2015. She met with an accident on 06th June 2015. But she died on 12th September 2015 while undergoing treatment. Post Mortem Report also shows that she died due to the accident related injuries. Now, the bank officials rejected the claim of the nominee on the plea that the amount was debited on 2nd June 2015 and the policy commenced from 1st July, 2015 and hence the accident cover can not be applied. They are not considering the fact that she died on 12th September and she was covered by policy as on the date of death. They have also not considered the fact that she applied for this scheme on 27th May itself. Further, it is nowhere mentioned in the rules of this scheme that the date of accident is main criteria for this scheme. Please throw light on this issue and guide me accordingly. My phone number is 09989285929. Kind reply. Regards.
Basavaraj Tonagatti
Vamsi-If the commencement date is from 1st July and death occurred on 12th September, means they have to accept the claim. Instead of discussing the issue with bank, I suggest you to contact the insurance company itself. If your complaint is not answered, then complain with IRDA.
sanjeev kumar
sir mera account icici bank me mere account se 12 rupaye cat ta h mujhe koi paper ni mila h abhi tak mujhe kya karna h bta do
Basavaraj Tonagatti
Sanjeev-It is the problem with many. Contact bank.
Vivek Kapoor
This is regarding my “Father-in-Law” who met accident and situation was so critical that doctor kept him in ICU but could not do anything much to treat him before his body gets normalize ( For 10 days ) ,Family members brought him home where he died same night ,Now when family reached out to PnS bank team for same they asked for postmortem and FIR which they never had as this happened in house and person who hit him ran away.Now question is what can be done to get this moving as bank people not taking this responsibility and family members are very weak financially.Please assist/advise as there should be at least some way to get this moving for humanity at least
Regards
Vivek Kapoor
Basavaraj Tonagatti
Vivek-Why can’t contact the insurance company?
Vivek Kapoor
Basavaraj : This is “pradhan mantri jeevan jyoti bima yojana” ,So in such cases to whom we can escalate ? becoz as a human being i want to help them in this tough time.
Basavaraj Tonagatti
Vivek-In my view, the better approach will be to contact insurance company.
Nayan Roy
I have already claimed under PMJJBY. But the bank manager is saying that you cannot claim in case the insured died within 45 days from the date of opening of insurance. As the insured person died within 35 days he is not agreeing to proceed furthur. What should I do??Please Suggest.
Basavaraj Tonagatti
Nayan-It is purely wrong. Let them show the rule book of 45 days claim.
Nayan Roy
Is it necessary that claim must be done within 30 days from the date of death of insurer under PMJJBY??
Basavaraj Tonagatti
Nayan-There is no such restrictions.
raheman
hi sir
can i claim this insurance for my income tax 80c ….
Basavaraj Tonagatti
Raheman-Which one?
Nayan Roy
Sir, Is there any 45 days no claim period under PMJJBY. My brother in law had insured under PMJJBY on 27th August, 2015 and he died due to heart attack on 3rd Oct. 2015. So, Can I claim this insurance. Please guide.
Basavaraj Tonagatti
Nayan-Yes, you can claim as the life risk start from the date of issue of policy.
Milind Patil
i bought policy of PmJJBY throught Axis Bank, and i got the policy document on my E-mail. But bi-mistake it was deleted permanently by me. Even i dont know the Policy Number. how do i get the Policy document. Please suggest.
Basavaraj Tonagatti
Milind-Contact bank for the same.
ASHISH KUMAR
SIR
I want to know the contribution ratio between the state government and central government in this Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana .
Thank you
Basavaraj Tonagatti
Ashish-There is no contribution from state governments.
manju
dear sir my mom was pradhan mantri jivan bhima yojana holder she death in 20 sept 2015 when was insurence money coming sir send me answer please
Basavaraj Tonagatti
Manju-First contact either insurance company or bank and inform about the death and provide proof. Then wait for their reply.
Angiras
what happen if i didnot die at the age of 50.did i get the money? under PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA (PMJJBY)
Basavaraj Tonagatti
Angiras-Both are pure insurance products. Hence, if nothing happens to you then there is no maturity amount.
Mukesh
Sir, the actual problem was my dob is in correct in my PAN so in my bank details is also same dob. Now I process for change my dob in my PAN. In Other document my dob is correct like aadhaar card and 10th marksheet as well. on the besic of these document can i apply for change my DOB in Bank and My PMJJBY.
Please guide me.
Regards
Mukesh
Basavaraj Tonagatti
Mukesh-Then first update your date of birth in PAN and later submit the same to your bank.
Mukesh
Hello, sir I get Pradhan Mantri Jeevan Jyoti Bima Yojna but my DOB is Wrong In policy document which i get. Please guide me How i can change my DOB in ploicy document.
Basavaraj Tonagatti
Mukesh-Contact your bank. Because KYC was done through them.
Ravinder dande
who will get the benefits of scheme if die at 50 or early age
Basavaraj Tonagatti
Ravinder-Your nominee.
DEEPAK SUWALKA
Form ko bharne Ka example or documents kya submit Karne hai pmjjby Ka claim Lena hai
Basavaraj Tonagatti
Deepak-Visit Bank, they guide you.
Ashok
Dear Sir,
I want to enrol this policy for my sister and want auto-deduction of money from my bank account.
Is this possible? If no what is alternative way. My sister don’t have a bank account.
BR,
Ashok
Basavaraj Tonagatti
Ashok-Open bank account in your sister’s name and then subscribe for this plan. You can’t buy it for her.
Neelesh
Sir,
My father died on 3rd June due to heart attack. He had enrolled in Pradhan Mantri Suraksha Bima Yojna of Rs 12 and the amount was debited from the Bank (SBI). But when i went to the bank for claims, the authorities told me that it is only available in case of accident and not heart attack. Please guide me what should I do.
Thank You
Basavaraj Tonagatti
Neelesh-You show them the below link, which clearly states that only DEATH but not accidental death. Hence, you are eligible for the claim.
“RULES FOR THE PRADHAN MANTRI SURAKSHA BIMA YOJANA“.
laxman
Sir my father died dueto heart attack.but my father policy pmsby .I can claim
Basavaraj Tonagatti
Laxman-YES.
nivedita
But the website say:
Sum Insured–
Death due to accident-Rs.2 lakh.
Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot-Rs.2 lakh.
Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot-Rs.1 lakh.
Basavaraj Tonagatti
Nivedita-Sorry for consfusing, I felt his doubt is related to PMJJBY but not PMSBY.
nivedita
Well the pdf does say accidental death in its very first line.
DETAILS OF THE SCHEME:
The scheme will be a one year cover, renewable from year to year, Accident Insurance Scheme offering accidental death and disability cover for death or disability on account of an accident.
Rita Bist
I wish to download my PMJSBY policy. Unfortunately I do not know the site for the same. Kindly help and oblige
Basavaraj Tonagatti
Rita-Sadly I too.
Harry
Contact the bank, they will provide after downloading online from participating insurance company.
Geetika Agarwal
Hi Sir,
I applied for both Pradhan Mantri Life insurance and Pradhan Mantri Accidental Insurance but mistakenly registered my name as nominee..
I sent SMS again with other person as nominee but I got reply that it is already registered..
When I reached to axis bank to change the nominee name , they said we just deduct fund and do not know how to change nominee name..
Can you please guide me what should I do to change nominee name as it will be of no use if it remained unchanged..
Basavaraj Tonagatti
Geetika-Instead of contact Bank, try to contact insurance company and request for change of nominee.
Geetika Agarwal
In your reply what do you mean by “insurance company”…
Since I enrolled in Pradan Mantri Yojna, so which company I contact to??
Basavaraj Tonagatti
Geetika-Contact the banker to identify the insurance company.
RAJESH KUAR KUSHWAHA
Is there 45 days no claim period in case of natural death under PMJJBY Scheme?
Basavaraj Tonagatti
Rajesh-PMJJBY is a life insurance and risk starts immediately after accepting the premium.
kapil
I had applied for PMSBY thru SMS. My account has been debited with Rs. 12/- but i have not got any certificate. Whom to contact ? Pls advise.
Basavaraj Tonagatti
Kapil-Contact your bank.
Shekhar
How can I get “Certificate of Insurance” of PMSBY?
Basavaraj Tonagatti
Shekhar-Contact the Bank.
Krishna
Dear Sir,
Providing good information with clarity. I have one doubt, scheme been started by BJP government , tomorrow if some other comes what is the situation, whether the scheme will continue or possibility of withdrawing by new government .
Thanks and Rgds
Krishna
Basavaraj Tonagatti
Krishna-They continue but with providing less importance to such schemes. That is the reason I said never invest in schemes which are meant for political class benefits. They make you as a scapegoat.
Dipak
Sir,
I have applied PMJJBY from HDFC bank through SMS but bank not confirm me that time. so i have applied from bank of Maharashtra. now both bank has debited my a/c under same scheme. I have check with PMJJBY team they told this scheme only for one bank a/c you cancel your earlier request. also I had submitted application to bank of Maharashtra but bank’s person told they have no idea how to stop this policy. Please advise because both bank’s will debited my a/c in future for same scheme.
Basavaraj Tonagatti
Dipak-You provide the request for ECS cancellation from next year towards one bank.
Usman K
Sir,
I already enrolled in PMSBY & PMJJBY, and the premium already deducted from my State Bank of Travancore account.
still I didn’t received any policy document. please advise me from where can I get the policy document.
Basavaraj Tonagatti
Usman-You have to wait.
nirmal kishor
I still check online for downloading certificate of PMSBY.
But for PMJJBY
please open this URL
https://www.iciciprulife.com/certificateOfInsurance/certificateInsuranceCOIPMJJBY.jsp
MAHENDRA
SIR MY DATE OF BIRTH IS 01/04/1965 CAN I TAKE BOTH POLICES AS AT PRESENT? PLZ REPLY ME THANKS
Basavaraj Tonagatti
Mahendra-The auto debit enrollment period is already over. You can enroll it for next year. Please check the enrollment eligibility conditions mentioned above.
Saibal Majumder
Please clarify if the death of nominee holder is prior to the Policy Holder how I would change the name of nominee holder.
Basavaraj Tonagatti
Saibal-In all these, your banker and the insurance company (about which you will come to know after receiving the document) will be service providers. You can change nominee by simply submitting the letter to them.
Priya
Hi,
Sir,My family’s some members policy is through ICICI bank, they get certificate but my policy is through SBI internet banking, when i’ll receive the certificate of the same.
Basavaraj Tonagatti
Priya-They are still processing. Therefore, you have to wait.
Priya
Dear Sir,
Thank you for your valuable reply,
Through internet banking can it process correctly? i received 1 message that those policys activation through internet banking is stopped for few days. is it correct or not?
Subhadip Ghosh
Can I join on this both policy at the month of November 2015?
Basavaraj Tonagatti
Subhadip-Enrollment period will be from 1st June 2015 to 31st May 2016. So you can enroll easily.
Narasimhareddy
Sir,
I Enrolled to PMSBY through ICICI bank because it is my salary account and If I changed my salary account to some other bank or if I stopped the transactions from ICICI bank then Is this Policy will be transfer to new bank account or Do I need to continue the relationship in the same bank where it was enrolled to till 70 Years of Age.
Basavaraj Tonagatti
Narasimhareddy-You can change the bank. But as of now such option is not mentioned in guidelines. Let us wait for few more days.
Sandesh Sharma
Hi Basavaraj,
Can we now transfer the PMSBY & PMJJBY to other bank saving account?
Please share the process, Thanks.
Basavaraj Tonagatti
Sandesh-I am not sure of this. Because there is no clarity on this issue.
anil
Sir, my brother subscribed for pmjjby on 23 may 2015 but sadly he expired on 10 th June 2015 owing to heart attack, he has savings account in SBH, I have informed the bank about his death but bank officials said the said premium has not auto debited from his account. Sir , officials also said that they received receipt of his policy . sir I’m totally confused , kindly guide me !! Its urgent…
Basavaraj Tonagatti
Anil-How they received the receipt of policy without deducting the premium from his savings account? Check his bank statement. If the premium is deducted and you already received the receipt (even bank) then you can proceed for claim.
sharath
Looks like bank guys and insurance companies are very much careless about these policies. i.e PMJBy and PMSBY. I have opted for both of them – when i got the policy – i am getting state as different and even city as well – rest details are correct.
In one of the policy there are no details when policy starts and ends it shows as dd/mm/yyyy instead of date.
Nominee details like Age are showing as NA.
When i ask bank people they are saying it is system generated and nothing we can do on this. What the stupidity it is?
Then i called toll free number – then they say that nothing we can do – we have to get it corrected by Bank – ask them to verify it .Either incase if person didn’t enter the details clearly/correctly then at the time of filling application it should be made clear – we do understand that there can be many applicants – if it’s not possible to manage it – then they shouldn’t be introduced.
How can illetrates can identify it.
There should be a method to change the incorrect details.
Basavaraj Tonagatti
Sharath-Whether the information available on policy documents matches the personal details provided in Bank? Because data will be collected from what you have give to Banks during KYC process. If anything is wrong then it is Bank, which have to rectify it.
Saichaitanya
Hi Sharath,
Could you please confirm after how many days of amount debited you received the policy?
I haven’t received the policy yet, though the amount was debited since more than a month. Moreover, I have taken follow-up with my Bank and Bima Yojana dept., but invain to get any response in the matter.
Basavaraj Tonagatti
Saichaitanya-No idea of how many days they take.
Harsh Garg
Dear sir,
Please tell me that is premium amount will get refunded back to the person after attaining the age of 55 yeard.Please reply it as soon as possible..
Thanks
Basavaraj Tonagatti
Harsh-No, you will not receive any premium back.
Dasarath
Dear Basu,
Please forward the self declaration format for good health that can be accepted by LIC.
Thanks in advance,
Dasarath
Basavaraj Tonagatti
Dasarath-You get it at HERE.
N K Jain
Sir,
In case of savings bank a/c jointly held by a husband (41 years) and her wife (35 years) – the husband being the first holder and Income Tax payer whereas the wife has no source of income – can both of them enroll for PMJJBY, PMSBY and the wife for APY also? Please let me know
Basavaraj Tonagatti
Jain-Yes, you can enroll to all three.
Kaushik Ghosh
Wife Cant Join APY (As per PNB) Only Primary / First Holder can enrol APY.
Please do clarify. Thanks!
Basavaraj Tonagatti
Kaushik-It is not yet clear about the joint account bank account holder rules. But if they show you the rule book then we have to accept. In my view there is no such rules available in APY portal.
chandru
hi!
If a person enrolled to both life and accident plan..suppose if he died due to accident can he claim for both?
Basavaraj Tonagatti
Chandru-Yes.
Piyush
Hi Mr Basavaraj Tonagatti, i want to know something more on Pradhan Mantri Jan dhan yojna can you please help, i am MBA-marketing and working for a project, it will be of great help if you help on this.
Basavaraj Tonagatti
Piyush-What help you need? Almost all features are explained above.
Piyush
Hi Basavaraj,
My query is, wanted to know the internal working of the bank for this project
Basavaraj Tonagatti
Piyush-What is your intention of knowing this back end process?
ashok kumar
iam holding pension account with sbi alonwith my wife as joint account holder. can we seperately join the pm jeevan bheema yojna
Basavaraj Tonagatti
Ashok-If your age is withing the eligibility limit then you can be member of this.
sanjay bharne
Hi,
mistakenly I have enrolled into two different banks ,for which I am the account holder
is there any possibility to stop one so that other bank policy will be continued
Basavaraj Tonagatti
Sanjay-You can contact a banker to cancel it.
CHANDAN
I already registered myself in PMSBY through UBI ONLINE banking. But I have no documents for this policy. Can I get any policy paper or any other documents regarding PMSBY? If yes, How can i get that?
Basavaraj Tonagatti
Chandan-You receive it.
archna
Sir,
I send the message for both insurance polices. but till date I am not received any news regarding this.
How do I know the process.
Basavaraj Tonagatti
Archana-Even mine also same 🙂 Contact your bank.
sumanta dutta
Sir,
I already registered myself in PMSBY through SBI ONLINE banking. But I have no documents for this policy. Can I get any policy paper or any other documents regarding PMSBY? If yes, How can i get that?
Basavaraj Tonagatti
Sumanta-You will get it and wait for some time.
Siva
PMJJBJ,PMSBY and ATAL pension scheme comes under tax exemption?
Your every post is being very useful..u r doing such a great work…every day I’m looking ur page even u not post anything on the day…all the best
Basavaraj Tonagatti
Siva-There is no such tax benefit of investing in these schemes. Pleasure to read your kind words 🙂
Mahavir
please tell about which of other insurance company involve in ?
Basavaraj Tonagatti
Mahavir-As of now for Jeevan Jyoti Bima Yojana, LIC is the insurance company. But going forward they may include other private insurers too.
rajik
Dear sir
as you mention the last date for enrollment for both scheme as 31.05.2015.
can’t I enroll after 31 May or in June or then after is not possible.
If yes then what will the policy commencement date.
Please reply at the earliest as possible.
awaiting for your valuable feedback.
Basavaraj Tonagatti
Rajik-You can still enroll for it. But let us wait which commencement date they consider.
rajik
In some artical I saw the Jeevan Jyoti Bima Yojana Premium is comparatively high from others is it right, still it is right to move for it or do we choose any other which better from this. pls suggest.
Basavaraj Tonagatti
Rajik-When you see the current trend in term insurance (especially online term insurance), then you may feel it bit costly. However, this is a life for low earning people who never thought to buy life and accidental insurance. Because no one approached to educate about the life risk and how to protect it.
Nisha
Hi
Thanks for the write up! It is a very helpful article and I would like to subscribe the both schemes.
Let me clarify one thing, Is it NRE/NRI Savings Account can subscribe this? (A/c @ SBI)
Best Regards
Nishasurabhi
Basavaraj Tonagatti
Nisha-As I pointed above, I think these schemes are not meant for NRIs. But as of now there is no clarity on this. Also, they specifically mentioned that ALL SAVINGS ACCOUNT HOLDERS but not NRE/NRI Savings Account holders.
RP Mahesh
Hi Basavaraj,
My dad is insured in LIC. As this scheme is maintaining by LIC company , is my dad eligible for this scheme?
If yes, will he get covered for both schemes(LIC + PMJJBY) ?
Basavaraj Tonagatti
Mahesh-If he is eligible according to the age set by these plans then he can buy. Existing LIC insurance will not be considered for this product eligibility.
SMITHA S NAIR
It is a very good article , quite informative. My doubt is applicablity of this scheme to NRIs. As already mentioned all NRIs may not be rich. So is this scheme applicable to NRIs? If applicable can they use the online platform available across different banks?
Basavaraj Tonagatti
Smitha-All NRIs will have huge cash flow. However, they lack in a skill to create wealth. Also do you feel NRIs hungry of just Rs.2 lakh life and accidental insurance? I don’t think so. By the way, this scheme is not meant for NRIs. Let us see the official declaration on this and decide 🙂
joydeep majumdar
Dear sir,
My wife and I have a joint account only, no other bank account. Can we both have this polices?
Basavaraj Tonagatti
Joydeep-I think you both can enroll.
Arun Udumbassery
Hi Sir,
I tried submit this policy using SBI online net banking more than 10 times, but some message got display the message is “Sorry, unable to process your request. Please try later.”how can I enroll this policy through online net banking
Basavaraj Tonagatti
Arun-Why can’t visit the branch directly?
Sathish
Good Article. More over replying to all the comments and clearing many doubts
Basavaraj Tonagatti
Sathish-Pleasure 🙂
Rames
Can a person (age 30) join in both policies (Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana). Or is it like any one of them. When tried online in SBI after joining one plan its not allowing to join in other.
Basavaraj Tonagatti
Rames-You can join both the schemes. But I don’t know what went wrong in case of SBI. You can visit to the branch and subscribe.
sundar
my dad is 54 ( government servant) can he apply for this scheme , ??? do they have restrictions in this , that only middle class people should only apply like that ???
Basavaraj Tonagatti
Sundar-No such income barrier. However, check the age limit set for. If your father is eligible then go ahead.
sundar
Thank you for your reply, i have one more quest
sundar
what about atal pension scheme??? how to approach
Basavaraj Tonagatti
Sundar-I already written a post on this. Please go through “Atal Pension Yojna (APY)-New Pension Scheme details and benefits“.
G SURESH BABU
shall we apply in any branch of SBI (excluding home branch)? I want to support contract drivers plying in different areas through-out India, for all the drivers (having S.B A/c in different states) can we apply in one branch by mentioning SB A/c no?
Basavaraj Tonagatti
Suresh-Yes, you can apply so. But need an official who have knowledge and actual concern to spread this 🙂
Laishram Leingakpa
Dear all, I’m a visually challenged. Am I eligible for this scheme? When I enquired in my concern bank one of the staff told me that they are not sure whether disabled individuals are eligible for this scheme. There is a refusal syndrome among the officials if its not written clearly that persons with disabilities are eligible for something. Is it necessary to write that irrespective of sex, age, mental status, physical abilities/disabilities everyone can avail a certain scheme dispite mentioning that every individual of a certain age group can avail?
Basavaraj Tonagatti
Laishram-From the fine print of product details, I have not found any such restrictions. Hence, you are very much eligible for this scheme.
NIRAJ DAVE
Dear Basu,
Please guide if below statements are true in respect of all 3 schemes of GOVT. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). and Pradhan Mantri Suraksha Bima Yojana (PMSBY). and Atal Pension Yojna.
There is confusion among many people with regard to PM’s insurance scheme. Many are under the impression that all Saving Bank account holders are eligible for the scheme. In some banks based on the submission of application the accounts have been debited with premium amount.
There is no ambiguity in the scheme. In the guideline draft it is very clearly mentioned about the eligibility criteria.
INELIGIBLE PERSONS are:
1) Central and state government employees
2) Public sector employees including bank
3) Any person who has taxable income as per IT act, 1961
4) Persons who are included in the aam admi Bima yojana covering 48 occupations.
5) A person who has already taken life cover under any IRDA approved insurance policies.
please visit http://www.pmjdy.gov.in/pdf/guide_30k_lic_pmjdy.pdf for full details.
If any Bank has received premium from non eligible persons, The same can recovered with Interest. If the Bank refuses complaint can be lodged to OMBUDSMAN
Basavaraj Tonagatti
Niraj-You are raising doubts about PMSBY, PMJJBY and APY. But providing the link of Jan Dhan Yojana. Please note that Jan Dhan Yojana is different than these schemes.
NIRAJ DAVE
Hi Basu,
I just want to know that all individual are eligible or not for PMSBY, PMJJBY and APY. if any condition where any indivudual is not eligble under these scheme.
Basavaraj Tonagatti
Niraj-All individuals are eligible and the few conditions are mentioned above.
Rakesh Mishra
how to cancel PMJJBY … done by online sbibanking
Basavaraj Tonagatti
Rakesh-Contact bank and ask for cancellation of auto debit option against this scheme.
Rakesh Mishra
my home branch manager says he is not able to cancel auto debit (ecs) .
i am give application to him also mail to sbi life please help me for auto debit cancel .
my home brach 01276 central mket lajpat ngr new delhi i am very disturb for him..
my con no 09818366491
Basavaraj Tonagatti
Rakesh-Yes, the request must come from SBI Life.
Santosh
Were you able to cancel the auto-debit? What is the procedure?
Basavaraj Tonagatti
Santosh-Yes, you can. You have to give the instruction to bank for the same.
Santosh
Thanks for a quick reply Basavaraj! Just wanted to check if you submitted hand written application or Do they have a printed form for that? (My account is with SBI)
Basavaraj Tonagatti
Santosh-There is no specific format. However, it depends on banks. Hence, better you check with your bank.
Ravikumar
Dear Basava Raj,
Very good informative article…From the article, I understood these 2 insurance products are must for every Indian…btw, can we take these policies for higher sum by paying additional premiums?
Ravi, MyInvestmentsPub.com
Basavaraj Tonagatti
Ravikumar-Problem is, there is no maximum or minimum sum assured in these two. You will get only Rs.2 Lakh SA.
Ravi Raj Trivedi
Hi Mr.Basu, Thanks Man For all your posts, as my earlier comment i ask u that why government don’t make Term Insurance Compulsory, and what-ever your answer was. I just fell that “Bhagwan ne meri sun li.” OR “Government ne meri sun li” ha ha ha ha.
I think your blogs become guidelines for our Governments. :- )
And as u said i encourage all people to take these term insurance spaciously to those who can not afford as we can.
THANK BASU ! Hates Off To You !
Keep Writing.
Basavaraj Tonagatti
Ravi-Pleasure 🙂 But only hindrance is offering Rs.2 lakh sum assured. Instead, if they offered it based on individual requirement then it may be a great.
Dibyendu Kumar Banik
Dear Sir
Thank you for writing this article on Pradhan Mantri Suraksha Bima Yojana(PMSBY).
But we need clarification on one aspect which has not yet been highlighted.
How can an individual already enrolled under PMSBY raise a claim when needed and what documents needed to be furnished.Since we have not received any Card/Certificate of sort as document to register for the claim.
Also how will the claim if raised and accepted will be processed and what will be the time frame within which the transaction/s be completed.
Kindly share your thoughts or ideas on these attributes.
Basavaraj Tonagatti
Dibyendu-Good question. Your banker is a contacting point of service in case of a claim. Bank in return will submit the documents to insurance companies.
satyaveer
i have reliance guaranteed money back plan…is it c
omes under IRDA….pls tell
Basavaraj Tonagatti
Satyaveer-Yes, as this product is offered by Reliance Life.
Sarang Panajkar
Hi,
Is there any condition that customer shall not have any other insurance than these once to avail the benefit?
Thanks & Regards,
Sarang
Basavaraj Tonagatti
Sarang-No such conditions to avail this scheme.
sriram
I submit online netbanking but some message got display the message is “Sorry, unable to process your request. Please try later.”how to enroll this policys in online netbanking
Basavaraj Tonagatti
Sriram-May I know your bank? I suggest to try once.
Kirthan
Hi Basu,
Thanks for the article.
Can you provide us the PARTICIPATING BANK list?
Thank you
Regards,
Kirthan
Basavaraj Tonagatti
Kirthan-As of now I think all Public Sector Banks and major Private Sector Banks offering it. Once the list updated or released then I share the same.
Vinod Singh
Hi Basu,
Can you please also share some information on “Atal Pension Yojana” started by Narendra Modi.
Thanks & Regards,
Vinod Singh
Basavaraj Tonagatti
Vinod-Sure, will do soon.
harish
Hi Sir,
I have joined Personal Accident Insurance Scheme (premium of rs.200 per year with auto debit ) when I Opened account in SBI for this particular accont, Now can I join newly announced Accident(PMSBY) and Life Insurance Scheme(PMJJBY) by prime minister for this same account. Note( my previous insurance scheme is not PMSBY and PMJJBY )
Basavaraj Tonagatti
Harish-You can go ahead and buy both the schemes.
harish
Hi Sir,
1. Where do i Want to submit my form? I have filled in forms(PMSBY and PMJJBY) with me and now I am staying in out of my home town. But my account is in my home town SBI Branch.
2.Can I submit filled in forms to any SBI Branch or do I want to send it to my home branch(SBI) where I am holding my account?
3.It is very useful if I able to submit any one of sbi branch. Waiting for your reply.
Basavaraj Tonagatti
Harish-You can submit it to your SBI Bank. I think any branch of SBI is acceptable, no issue in that.
archana
can a person join pmsby and pmjby at the same time?
limited time at disposal , we need a quick response from you.
archana
Basavaraj Tonagatti
Archana-Yes, you can join both the schemes at the same time.
Abhishek
If one subscribe to both policies i.e. PMJJBY and PMSBY, then if there is death due to accident, whether in that case one would get claim of Rs.4 Lacs [2 + 2 ] ?
Basavaraj Tonagatti
Abhishek-Good question and answer is YES. Because, both the policies are treated as separate.
Gautam
Hi Mr.Basu,
Again you have come up with excellent article. Thanks a lot.
I have one query , How does partial disability and disability define in PMSBY ?
Does it cover injuries, expenses on medical treatment etc.?
Regards,
Gautam
Basavaraj Tonagatti
Gautam-It is usually defined with some % disability, which doctors certify.
Niraj Dave
Partial disability here means – Loss of both eyes or loss of both the hands or loss of both the legs or one eye or one leg or one hand. Here you will get Rs 2 lac and if its only one eye or one hand or one leg you will get Rs 1 lac.
Gautam
Thanks Niraj & Mr.Basu.
Pradeep Mitagar
Dear Mr. Basu,
First I would like to thank you for sharing the information.
Today I subscribed to your posts.
As I am newbie to the insurances I am looking for best life insurance plan that covers pure life insurance and health insurance. insurance..
Please do call me @ 8553469862 in your free time I want to discuss with you.
I wish good luck for your future articles.
Thanks to you!
Regards,
Pradeep
Basavaraj Tonagatti
Pradeep-I already written few posts on your requirement. Please go through them “Best online Term Insurance Plans in India for 2015-A comparative list” and “IRDA Incurred Claim Ratio-How to choose the best health Insurance?“.
Satish
Good Information …
Also cover Terms and condition and where we need to go for claim ..
Insure is an easy process but to claim its so much tedious and lengthy process .. i think..
Basavaraj Tonagatti
Satish-As of now they have not shared any info on this. But in all probability, it will be insurance companies who manages this scheme. I will update once I get the information on the same.
Satish
Thanks .. Keep it up..
Rahul Khandelwal
Dear Mr. Basu,
I am subscribed to your and I regularly read your posts which are really useful and full of updates. You are very well fulfilling the objective of spreading awareness!
Now, as far as this post is concerned, its great that Govt. has introduced a scheme of insurance. OK its fine. But, what is new about introducing a term plan and an accidental policy with a different name? No novelty. OK, I understand its not for higher Income groups. But the same could have been done by LIC itself -> by introducing a new line of product. I might be mistaken since I am not getting the objective of involving Central Govt. at this much level. Its absurd.
Anyway, That was just about the scheme.
I wish good luck for your future articles.
I am sure, I will always have good read of them.
Thanks to you!
God bless you sir!
Regards,
Rahul
Basavaraj Tonagatti
Rahul-The problem with LIC is, it is offering term insurance since long back (even the popularity of term insurance came through private insurer). But term insurance being a low premium product, neither LIC officials nor agents promote it. That is the apathy of LIC.
Jeevan Singh
Good information. Thanks a lot for your service Mr. Basavaraj.
Basavaraj Tonagatti
Jeevan-Pleasure and request you to please share this valuable information to all known (especially labours, small and medium business owners and all low earning individuals).
Suhas Zanje
Sir,
I am regular follower of your posts…….You are doing great ojb by educating the educated people like me…..Thanks a ton….
I have one query to above post is whether this scheme is applicable to NRI as well?
Basavaraj Tonagatti
Suhas-Do you feel this much life and accidental insurance actually suffice your need? This is meant for all low earning people to have at least a bit of support. But for NRIs, I don’t think it suites (even if it is available to them).
Sushila
Not every NRI is rich, their are contract workers with no job security
Rohit Mistry
Thanks Sir, for information and knowledge sharing, My Question is Premium amount may be increase in future. and final output depend on Claim clearance , But good move by government in Social Security
Basavaraj Tonagatti
Rohit-Let us see. Usually in life insurance premium will be same throughout the period. This being the typical group insurance, I don’t feel they raise premium in middle.
Narendar Kumar
Best insurance plan at low premium. Preference can be given to nationalized bank which have tie-up with LIC for better claim settlement.
Basavaraj Tonagatti
Narendra-Banks are just collection agents of your premiums. They don’t have any rights over claim settlement. Hence, banks not matter. Also LIC alone not manage this scheme, it is shared with other private insurers. Please read above lines carefully. I already mentioned that.
Raj
how much coverage will one get if he enrol for both pmjjby and pmsby and dies due to accident.
Will the nomineevget 4 lacs
Basavaraj Tonagatti
Dear Raj,
Yes, it is Rs.4 lakh.