Indiafirst Pradhanmantri Jeevan Jyoti Bima Yojana Plan

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

The IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana is a non-participating, non-linked, yearly renewable group protection plan. At present, India is one of the countries that is growing at a very fast pace. The Government of India wishes to ensure that different financial schemes are introduced that takes the country to new heights. The IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana targets at offering insurance coverage to all the bank customers who hold savings accounts. The IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana is an annually renewable plan that offers the customers a life cover via a quick and simple process. This ensures that all the customers get insured in no time. The master policyholder can offer the life cover at a fixed rate that is affordable. During the plan year, a policyholder can enjoy the flexibility of adding new members. The members can easily secure their loved ones as the policy comes at a reasonable price.

Eligibility – Who is the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana for?

In order to buy the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana, a customer has to fulfil certain eligibility criteria with respect to his/her age and the amount of insurance he/she seeks. These conditions are as shown below:

Sum Assured and Premium Range – What you get and what it costs

Sum Assured – The sum assured is the lump sum amount that is paid to the legal heirs or nominee of the insured person. Under the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana, the sum assured equal to Rs.2 lakh is paid to the nominee of the insured individual.

Premiums – It is the amount that the policyholder pays to the insurer for keeping the policy alive and coverage active. Under the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana, the policyholder can the avail annual premium paying mode only. The IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana can be renewed every year.

Disclaimer: Premiums may vary depending upon factors like term of the plan, age, location, etc.

Plan Coverage – What the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana covers

Survival Benefit and Maturity Benefit are not payable under the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana.

Riders/Add-on Plans – Additional coverage under the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana

There are no rider plans or add-on plans that can be enjoyed by the insured person under the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana.

Exclusions – What the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana does not cover

Suicide Exclusion – In case the policyholder commits suicide within a period of 12 months from the policy revival date or the policy commencement date, whether insane or sane, none of the benefits available under the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana are paid out to the nominee. The plan gets terminated at that point.

Other Key Features

Tax Benefits – How you can save under the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana

Tax Benefits under the prevailing tax laws can be availed under the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana. The policyholder can enjoy tax benefits under Section 80C of the Income Tax Act, 1961. It is advisable to consult a tax advisor to understand more about the tax benefits.

Why you should buy the IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana from IndiaFirst Insurance?

The IndiaFirst Insurance Company is one of the top insurance companies in India. The insurance solutions provided by this company are tailored to meet the needs and requirements of the customers. The solutions come with immense flexibility and innovation. Bank of Baroda, Legal and General (UK) and Andhra Bank collaborated to form the IndiaFirst Insurance Company. Andhra Bank has more than 1,700 branches spread across the country and has served its customers for 89 years. Bank of Baroda, on the other hand has above 3,900 branches in India. Legal and General (UK) comes with an international experience of more than 150 years. It offers investment plans, insurance plans, pension plans, etc. to more than 5.5 million customers across the United Kingdom. The Government of India wishes to ensure that different financial schemes are introduced that takes the country to new heights. The IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana targets at offering insurance coverage to all the bank customers who hold savings accounts. The IndiaFirst Pradhan Mantri Jeevan Jyoti Bima Yojana is an annually renewable plan that offers the customers a life cover via a quick and simple process. The master policyholder can offer the life insurance at a fixed rate that is affordable. During the plan year, a policyholder can enjoy the flexibility of adding new members.