Life Cover Under Pradhan Mantri Jan Dhan Yojana: Know More About It

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Pradhanmantri Jan Dhan Yojana (PMJDY) launched by the government offers insurance facility for the subscribers.

With the launch of PMJDY, the Government announced Life Cover under Pradhan Mantri Jan Dhan Yojana of Rs 30,000 with the RuPay Card for all those who subscribe to a bank account for the first time during the period 15th August 2014 to 26th January 2015.

The main objective of providing life insurance was to provide financial security to the deceased's dependent who otherwise cannot afford insurance. The urban poor and rural poor who are not covered under any social security scheme are the major beneficiaries of this scheme.

Insurance details

Claim amount of Life Cover under Pradhan Mantri Jan Dhan Yojana is Rs 30,000. The claim will be processed by Life insurance corporation of India. The scheme will serve to give a life insurance cover on the death of the life assured, due to any reason, to the deceased's familyNominee of the bank account holder whose name is mentioned while opening the bank PMJDY account will get the claim amount. How To Apply For PM Awas Yojana (PMAY)?

Eligibility

 

  • He or she should be in the age group 18 completed to 59.
  • One person per family will get life cover of Rs 30,000 under PMJDY. 
  • The person opening Bank account for the first time during the period from 15-08-14 to 26-01-15 will be eligible to get covered under this scheme.
  • Individual must have a valid RuPay card.
  • Head of the family is only covered under this Risk Cover Scheme.

 

How to claim?

Nominee of the deceased or legal heirs has to fill the form for the claim the cover under Jan Dhan Yojana. They need to submit all the documents with the form to the district or nodal branch of the bank where the account was opened. LIC will then process the claim upon receiving all the documents by the concerned bank.

Documents

Some documents are required for claiming the cover under Jan Dhan Yojana. Documents required along with the claim settlement form are

  • Death certificate
  • Aadhaar card photocopy of deceased and claimant

The nominee will have to submit attested copies of the above documents. 

 

Goodreturns.in 

Read more about: pmjdy, insurance
Story first published: Tuesday, October 24, 2017, 12:14 [IST]
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