PMJJBY: Get Rs 2 Lakh Life Cover for Just Rs 436 Annually; Apply & Claim Process

• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) offers a Rs 2 lakh life cover for an annual premium of Rs 436.
• The scheme provides coverage for death due to any reason (accident, illness, natural disaster) to the nominee.
• Eligibility: Indian citizens aged 18-50 with a savings bank or post office account; NRIs with an Indian bank account can also apply.
• Premium is auto-debited from the bank account; pro-rata premium for mid-year enrollment, full premium on renewal.
• Claim process involves the nominee submitting a death certificate, KYC, bank passbook copy, and potentially FIR/post-mortem report to the bank/insurer.

Why It Matters: PMJJBY offers an affordable Rs 2 lakh life insurance cover for Rs 436 annually, accessible to common citizens.