Why Choose Bharti AXA Life Pradhan Mantri Jeevan Jyoti Bima Yojana?

The product has been designed to meet the requirements of Government of India’s “Pradhan Mantri Jeevan Jyoti Bima Yojana” (PMJJBY) scheme. The scheme will be administered by Banks and be guided by the scheme rules as specified by Government of India from time to time. The coverage will start from the date of debit of premium from insured member’s account for joining the scheme.

Social Security Scheme
This product has been designed to meet the life insurance requirements under the Benefits of Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY) scheme launched by Government of India.
Life Cover at a Reasonable Fixed Rate
Get Life Coverage of Rs. 2 Lac at a flat premium of Rs. 406 p.a. (for electronic means) & Rs. 436 p.a. (for other means). The product provides flexibility to add new members and eligible account holders can also join the scheme.
Easy Enrolment Process
The product ensures easy and quick process of enrolment with straight through issuance and no medicals are required. Ease of premium payments as the premium amounts are directly auto debited by the bank from the member’s bank account.
Tax Benefits
You can enjoy Tax benefits on the Premiums paid and pay-out benefits received. The Tax benefits fall under Income Tax Act, 1961. They are subject to change as per changes in tax laws from time to time.

Key Benefits

Affordable

Death Benefit

Hassle Free

Tax Benefits**

How Does the Plan Work?

Minimum Entry Age	18 years (Age last birthday)
Maximum Entry Age	50 years (Age nearest birthday)
Maximum Maturity Age	55 years (Age nearest birthday)
Minimum/Maximum Sum Assured	₹ 2,00,000 per life
Minimum/Maximum Premium*	For electronic means: 406 p.a. For all other means: 436 p.a.
Policy Term	One-year renewal
Lien Period	30 days from date of enrolment or re-entry into the scheme (entry date/date of commencement of insurance cover)

* Any applicable taxes and/or any other statutory levy/ duty/ surcharge on your premiums, as notified by the Central and/or State Government from time to time as per the provisions of the prevalent tax law.

Insurance Jargon Explained

Death Benefit

The payment made to a beneficiary upon the death of the insured person.

-- Whenever an unfortunate event happens, there is both emotional as well as financial loss. An insurance company helps you replace the financial/monetary loss through the Death Benefit, which helps maintain your family’s financial stability. This benefit includes both a guaranteed sum of money called as Sum Assured on Death and also the Accrued Bonuses, if applicable.

Lien

In some cases, extra risk is expected to decrease over a period of time. In such cases proposal is considered and accepted with lien. Lien operates throughout the period, on a decreasing basis. In the event of death, during the lien period the full sum assured is not payable. Eg: If 25% decreasing lien is imposed for 5 years. It is understood that in first year risk cover (sum assured payable) is only up to 75%,second year- 80%, third year-85%, fourth year 90%, fifth year 95%, and from sixth year onwards lien is not operative.

Premium

The payment, or one of the regular periodic payments, that a policyholder makes to an insurer in exchange for the insurer's obligation to pay benefits upon the occurrence of the contractually-specified contingency (e.g., death).