If you have recently lost a loved one due to COVID, who was insured under the Pradhan Mantri Jeevan Jyoti Beema Yojana (PMJJBY), you are eligible for claiming Rs. 2 lakh insurance amount. . This scheme is administered by the Life Insurance Corporation of India and other insurance companies, and is renewable on a yearly basis1.
The policy is a one-year insurance term policy. If a person has succumbed to COVID and bought PMJJBY in the financial year 2020-2021, their nominee/heir can apply for a claim. The scheme offers Rs 2 lakh term insurance cover to bank holders aged between 18-50 years, and the annual payable premium is Rs. 330, if the claimant signed up between June and August2.
To start the application process for the PMJJBY, you can do the following:
Step 1: Contact the bank where the deceased person is covered under the Yojana. A death certificate is necessary to claim the insurance amount.
Step 2: Keep all important documents ready including claim form, refund receipt, discharge receipt, etc.
Step 3: Send the filled out claim form, a receipt for discharge, death certificate along with a photocopy of the nominee’s canceled bank account and all the relevant bank details to the bank.
- Economic Times, accessed at: https://economictimes.indiatimes.com/wealth/insure/all-about-pradhan-mantri-jeevan-jyoti-bima-yojana/articleshow/58907299.cms?from=mdr.
- Business Today, accessed at: https://www.businesstoday.in/money/insurance/lost-dear-one-to-covid-check-out-eligibility-for-rs-2-lakh-govt-insurance-claim/story/437886.html
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