What is PMJJBY?
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme offering coverage of ₹2 lakh at an affordable premium of ₹436 per year. It is renewable annually and aims to provide financial security to your family in case of an unfortunate death.
Key Features of PMJJBY
- Coverage Amount: ₹2,00,000
- Annual Premium: ₹436 (auto-debited)
- Age Limit: 18 to 50 years (coverage continues up to 55 years)
- Policy Term: 1 year (renewable every year)
- Offered through: ICICI Bank and other participating banks
Eligibility Criteria
- You must have a savings account with ICICI Bank.
- Age must be between 18 and 50 years.
- You must consent to auto-debit of the premium every year.
How to Apply for PMJJBY Using ICICI Bank
1. Apply via Internet Banking
- Log in to your ICICI Bank Net Banking.
- Go to Payments & Transfers > Insurance.
- Select PMJJBY from the list.
- Enter your nominee and contact details.
- Accept the terms and conditions and confirm.
- ₹436 will be auto-debited from your account annually.
2. Apply via iMobile Pay App
- Open the iMobile Pay app and log in.
- Tap on “Insurance”.
- Select PMJJBY.
- Fill in the nominee details and confirm.
- The premium will be debited automatically.
3. Apply by Visiting ICICI Bank Branch
- Visit your nearest ICICI Bank branch.
- Ask for the PMJJBY application form.
- Fill out the form and submit it to the bank staff.
- The premium will be auto-debited after processing.
Important Notes
- The policy renews every year on 1st June.
- Coverage continues only if the premium is paid annually.
- The scheme terminates if the account is closed or insufficient balance is available.
Conclusion
Enrolling in PMJJBY through ICICI Bank is simple and quick. Whether online or at a branch, you can secure a ₹2 lakh life cover for just ₹436 a year. It’s a small step toward a more secure future for your loved ones. Don’t wait—apply today!
Have questions about PMJJBY or ICICI Bank’s insurance services? Leave a comment below or contact us—we’re here to help!
