Pradhan Mantri JEEVAN JYOTI BIMA YOJANA (PMJJBY) VS Pradhan Mantri SURAKSHA BIMA YOJANA (PMSBY)

Difference between Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY):

Many of our blog readers are getting confused in between the latest launched Government Social Security Schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).

Since both of the schemes offer same insurance coverage with same mode of payment, people are not getting clear picture of the benefits of the schemes.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) vs Pradhan Mantri Suraksha Bima Yojana (PMSBY):



S. No. Features Pradhan Mantri Suraksha Bima Yojana (PMSBY) Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
1. Eligibility 18-70 years 18-50 years
2. Number of Policy One Policy Per Person One Policy Per Person
3. When to Join the Scheme? In any year after giving the premium subject to the age. In any year after giving the premium subject to the age.
4. Sum Assured (Fixed) Rs.2 lakhs Rs.2 lakhs
5. Premium Rs. 12 per annum Rs. 330 per annum
6. Cover ceasing age At the age of 70 years At the age of 55 years
7. Maturity Benefit Nil Nil
8. Death Benefit (Natural Death) Nil Rs.2 lakhs
9. Death Benefit (Accidental Death) Rs.2 lakhs Rs.2 lakhs
10. Disability of both eyes, both hands, both legs or one eye and one limb Rs.2 lakhs Nil
11. Disability of one eye or one limb Rs.1 lakh Nil
12. Maximum Insurance cover Rs.2 lakhs (From any one of Bank account) Rs.2 lakhs (From any one of Bank account)
13. Risk Period 1st June to 31st May every year. 1st June to 31st May every year.
14. Mode of Payment Premium will be auto debited from account in the month of May every year. Premium will be auto debited from account in the month of May every year.
15. Mandatory Document Aadhar Card Aadhar Card
PMSBY

Pradhan Mantri JEEVAN JYOTI BIMA YOJANA (PMJJBY) VS Pradhan Mantri SURAKSHA BIMA YOJANA (PMSBY)

Points to Ponder:

  1. The form with permission to auto debit the premium amount is to be given every year by 31st May.
  1. Along with the joining form, subscribers are also required to submit self-certificate of good health in the prescribed proforma.
  1. In case the subscriber is opted for both the schemes then the total insurance cover in the event of accidental death is Rs.4 lakhs.
  1. In case the subscriber is opted for both the schemes and dies due to natural death then the total insurance cover would be of Rs.2 lakhs.
  1. If the premium is not paid on the time due to insufficient balance, the policy can be restored after paying the full amount together with the self-attested copy of good health.
  1. Closure of the bank account with which the schemes was joined will result in lapsing of the policy.
  1. You can Download the application form to apply for the schemes in any language through the link provided below :  http://www.jansuraksha.gov.in/forms.aspx
  2. You Can download claim ” PMJJBY & PMSBY forms”,  fromhere




 

Pradhan Mantri JEEVAN JYOTI BIMA YOJANA (PMJJBY) VS Pradhan Mantri SURAKSHA BIMA YOJANA (PMSBY)
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