How to claim insurance under Pradhan Mantri Jeevan Jyoti Bima Yojana ?

As you Know, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a Government backed scheme offering a life insurance cover worth 2 lacs at a very affordable premium of Rs 330/- per annum. Under this Scheme, a maximum insurance cover of Rs. 2 Lacs is paid to nominee / heirs of the policyholder on death of due to any reason (natural and accidental death). PMJJBY is a purely term insurance scheme with no investment components means policyholder will not get any return or maturity proceeds on the premium paid.

Many of us have subscribed or enrolled for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) launched by Government of India in 2015. But do you know how to claim insurance cover under PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) in case of unfortunate death of the policyholder, how nominee will get claim under PMJJBY ?

Also Read : PMJJBY – Eligibility, Premium, Insurance Cover, Benefits – How to enroll ?

How to claim insurance cover under Pradhan Mantri Jeevan Jyoti Bima Yojana ?

As you know, it is very easy to enroll for Pradhan Mantri Jeevan Jyoti Bima Yojana, it is also very easy to file your claim under the scheme as explained here under.

If you are nominee under the policy and looking for claim settlement procedure under Pradhan Mantri Jeevan Jyoti Bima Yojana. Follow these steps :

Step 1 : Visit the respective Bank branch , where the policy holder was having the “saving bank account” and where he/she enrolled for the scheme.

Step 2 : Collect the CLAIM FORM and DISCHARGE RECEIPT from the bank or any other designated source like insurance company branches, hospitals, insurance agents etc. including from designated websites.

Step 3 : Submit the duly completed claim form, discharge receipt, death certificate, along with a photocopy of the cancelled Cheque of your bank account (if available) or the bank account details to the respective bank.

Step 4 : Your claim for PMJJBY insurance cover will be settled by the insurance company within 60 days of your submission of claim with bank.

Why 60 days to settle claim under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?

When you submit your claim form to bank for insurance benefits under Pradhan Mantri Jeevan Jyoti Bima Yojana. The maximum time limit set for bank to forward your claim documents to insurance company is 30 days (from date of claim submission).

During this time period, Bank check for whether the insurance cover for said member was in force on the date of his / her death. Whether the premium for said cover was deducted on annual renewal date before the death and remitted to insurance company.

Bank also verify the claim form and nominee details available in the records to them.

After insurance company receive the claim form from bank, maximum time limit set for claim settlement by insurance company is also 30 days.  During this period, company verify the claim form is complete in all respects and all the relevant documents are attached. If there is any discrepancy in the documents, company take up the matter with bank.

If the claim is admissible, the designated office of the insurer shall check whether the member’s coverage is in force and no death claim settlement has been effected for the member through any other account. In case the coverage was in force and no claim has been settled for the said member, payment shall be released to the nominee’s bank account and a communication shall be sent to the nominee with a copy marked to the bank.

So it take maximum 60 days for claim to be settled.

Download Claim form – Pradhan Mantri Jeevan Jyoti Bima Yojana

You can download claim form for PMJJBY from here.

Note :

In the case where nominee submit the claim form directly to any office of the insurer, then the insurer’s office would forward the same to the concerned bank of the deceased account holder immediately to get necessary verification etc. done from the bank concerned.

The concerned bank branch will forward the claim form to the designated office of the insurance company for processing the claim.