Jeevan Jyoti Bima
Jeevan Jyoti Bima is a life insurance plan designed to provide financial protection and security to policyholders and their families. This plan offers a lump sum payment to the nominee in the unfortunate event of the policyholder’s demise during the policy term. It’s an affordable and accessible way to ensure that your loved ones are financially secure even in your absence.
| Feature | Details |
|---|---|
| Plan Type | Term Life Insurance |
| Policy Term | Typically 5, 10, or 20 years |
| Entry Age | Minimum: 18 years, Maximum: 50-60 years (varies by insurer) |
| Sum Assured | Varies based on premium amount and policy term |
| Premium Payment Mode | Yearly, Half-Yearly, Quarterly, or Monthly |
| Premium Payment Term | Typically equals the policy term |
| Death Benefit | A lump sum amount paid to the nominee upon the policyholder’s demise |
| Tax Benefits | Eligible for tax benefits under section 80C and 10(10D) of the Income Tax Act, 1961 |
| Grace Period | Typically 30 days for yearly premium mode, 15 days for others |
- Inclusive Coverage: Jeevan Jyoti Bima is available to all Indian citizens aged 18 to 50 years, making it one of the most inclusive insurance schemes in the country.
- Affordable Premium: The scheme offers an extremely affordable premium, making it accessible to people from all walks of life. A small premium amount ensures that financial protection is within everyone’s reach.
- Accidental Death Benefit: One of the primary benefits of the scheme is the coverage for accidental death. In the unfortunate event of the insured’s demise due to an accident, the nominee receives a substantial sum assured, providing financial support during a challenging time.
- High Sum Assured: Jeevan Jyoti Bima offers a high sum assured of Rs. 2 lakhs, ensuring that the nominee receives a substantial amount in case of the policyholder’s demise.
- Simple Enrollment Process: Enrolling in the scheme is hassle-free, with minimal documentation and no medical examination required.
- Financial Security: Jeevan Jyoti Bima provides a safety net for the policyholder’s family. In the event of the policyholder’s accidental death, the sum assured can help cover immediate expenses and provide financial stability for the family.
- Affordable Premiums: The low premium makes it easy for individuals, including those from economically weaker sections, to secure their lives and their family’s future.
- Ease of Enrollment: With a straightforward enrollment process, individuals can quickly avail of the benefits of this scheme without any cumbersome paperwork or medical tests.
- Nationwide Reach: The scheme is available across the country, ensuring that individuals from both urban and rural areas can access this vital insurance coverage.
- Peace of Mind: Knowing that you and your family are protected from the financial burden of accidental death brings peace of mind, allowing you to focus on living a fulfilling life.