A Government Insurance Scheme with Daily Investment of Rs 4
Image credits: Freepik
Insurance policy
Pradhan Mantri Jeevan Jyoti Bima Yojana is one the most affordable insurance policies available. It has an annual premium of Rs 436, and a per day premium of less than Rs 4.
Image credits: Getty
Rs 2 lakh
This insurance policy aims to offer insurance coverage to people at a minimal cost. In the unexpected event of death of policy holder, the family receives up to Rs 2 lakh.
Image credits: Freepik
Eligibility
The minimum age for this policy is 18 years and the maximum age is 55 years. One must have a bank account to avail this policy.
Image credits: Pexels
One-year life insurance coverage
Pradhan Mantri Jeevan Jyoti Bima Yojana offers one-year life insurance coverage and it needs to be renewed annually.
Image credits: Pexels
Health conditions
Before availing this policy, one must declare any serious health conditions.
Image credits: Pexels
Annual premium
The annual premium for PMJJBY is Rs 436, with the insurance period beginning from 1st June of a year to the 31st May of next year.
Image credits: Pexels
Auto-renewal
PMJJBY offers an auto-renewal feature. This feature allows the deduction of premium from your account for another insurance period after the end of one year.