Bajaj Allianz Life Pradhan Mantri Jeevan Jyoti Bima Yojana

Bajaj Allianz Life Pradhan Mantri Jeevan Jyoti Bima Yojana
Bajaj Allianz Life Pradhan Mantri Jeevan Jyoti Bima Yojana is a non-linked, non-participating, one year renewable group term
insurance plan for Government of India's 'Pradhan Mantri Jeevan Jyoti Bima Yojana' (PMJJBY) scheme.

Key Features
* Enrolment through a simple proposal form
* No medical underwriting
* Life coverage that suits the affordability

How does the Plan Work?
-All the savings bank account holders of your Bank, between 18 to 50 years of age, can enroll under the scheme.
-They will be the members under this Scheme where the Bank is the Master Policy Holder.
-In case a member has multiple saving bank accounts, this scheme will be available through one savings bank account only.
-The premium will be deducted from the member's savings bank account through 'auto debit' facility in one instalment. The
premium is `330 plus Service Tax (if applicable). Renewal premium is chargeable as per the rate decided from time to time
on Annual Renewal dates.
-The period of initial cover will be from 1st June to 31st May next year. Thereafter, the cover can be renewed on the 1st of
June every year.
-The enrolment rules would be as specified by the Government of India from time to time.
-In case members wishes to join the scheme post policy commencement date, he/ she can do so with the below mentioned
premium (pro-rata premium) amount payable depending on the month of enrolment.

Benefits payable
On Death
In case of unfortunate death of the insured member during the period of cover, Sum Assured will be paid.
In case of unfortunate death during the waiting or lien period of 30 days (applicable for new members enrolling into the
scheme on or after 1.06.2021)
-On death due to accident Sum Assured will be paid
-On death due to any reason other than accident No benefit is payable