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  • HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan is a non-participating traditional group term insurance plan offered by HDFC Bank. The plan offers flexible investment options which help secure the financial requirements of your family in the unfortunate event of your demise. If you have a savings bank account with HDFC Bank, you are eligible to avail of this plan, subject to other conditions. In case you have more than one savings bank account across various banks, you can avail of this scheme only through one savings bank account. You have to submit a consent-cum-declaration form to avail of the HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan.


    Eligibility Conditions for HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana

    Particulars Description
    Minimum entry age 18 years 
    Maximum entry age 50 years (last birthday) 54 years (renewals)
    Minimum age at maturity 19 years
    Maximum age at maturity 55 years

    Key Features of HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana

    The salient features of HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana are listed in the table below:

    Particulars Description
    Plan type Non-participating traditional term insurance plan
    Plan basis Group. HDFC Bank is the master policyholder. As per this plan, holders of savings bank accounts are members
    Premium paying terms Annual
    Premium Rs.330 (exclusive of education cess and service tax)
    Policy term One year (can be renewed). The policy commenced on June 1st, 2015. The renewal date will, henceforth, fall on June 1st in subsequent years
    Maturity benefits There are no maturity benefits available under this plan
    Premium payment frequency Annual
    Renewals Individuals can renew their policies every year upon payment of the annual premium and submission of a self-certificate of health
    Guaranteed Additions No guaranteed additions are available under this plan
    Medicals Individuals who joined the plan after November 30th, 2015 should submit a self-certified document stating good health in a specific format in addition to full payment of the premium (annual)
    Termination The plan is terminated under the following conditions:
    • When an account holder attains 55 years (subject to renewal)
    • Closing the saving account with HDFC
    • Insufficient balance in an account
    • Non-payment of premium
    Nomination Nomination facility is available under this policy under Section 39 of the Insurance Act, 1938. You can nominate an individual who will receive the death benefit
    Sum Assured Rs.2 lakh
    Policy coverage This plan provides death benefits only. No surrender benefits are available under this plan
    Freelook Period 15 days
    Loan facility No loans can be taken against this plan
    Tax Service Tax and Education Cess are applicable. Tax is deducted (at prevailing rates) from the payments under this plan as per Income Tax Act, 1961

    Benefits/Advantages of HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana

    The HDFC Life Plan provides various benefits as listed below:

    • Accessibility: Any individual above 18 years and below 50 years can avail of the Pradhan Mantri Jeevan Jyoti Bima Yojana plan sans any hassles
    • Simple documentation: Individuals who have a savings bank account in any of the participating banks can avail of this plan
    • Renewability: The plan can be easily renewed every year upon payment of the annual premium and submission of a self-certificate by you (member) stating good health without any history of critical ailments (as on the enrollment date or even earlier).
    • Financial Security: The HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana is essentially a social security scheme which envisages affordable life coverage for all eligible Indian citizens at a low premium
    • Death Benefit: In the unfortunate event of your (member) death, your nominee will receive Rs.2 lakh subject to submission of the required documents as listed below:
    Documents required for normal death Documents required for accidental death
    Death certificate (Municipal Authority) Cause of death as specified in a certificate
    Cancelled cheque (personalised) with account number Attested copies of the following:
    • Postmortem report
    • Police Panchnama report
    • First Information Report
    • Police Inquest report
    Claim form Claim form
    Medical records Cancelled cheque (personalised) with account number
    • Auto-Debit Facility: At the time of enrollment, you have to opt for the auto-debit facility wherein a premium of Rs.330 is automatically deducted from your savings bank account in one installment

    How the Plan Works

    If you purchase HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana for one year, you have to pay a premium of Rs.330 in one installment. At the end of the policy year, you may choose to renew your policy upon payment of the annual premium and submission of a self-certificate stating that you are in good health. You will be ineligible to avail of this plan if you suffer from AIDS, chest surgery, cancer, brain stroke or any kind of organ transplantation. In the unfortunate event of your demise, your nominee will receive the death benefits amounting to Rs.2 lakh.

    Premium Payment

    The annual premium of Rs.330 is deducted from the savings bank account courtesy the 'auto debit' facility in one installment on or before May31st of each coverage period. (Rs.289 is paid to the insurer, Rs.30 to micro agents and Rs.11 towards administrative costs).

    Frequency Per installment
    Annual Rs.330

    Riders

    The HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan does not offer any riders. 

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan Reviews

  • Page 1 of 50 1 2 3 4 5
    • HDFC Life Life Insurance
      "Life insurance"
      0.5 5.0/5 "Blown Away!"
      HDFC life insurance service are fine. I am holding this life insurance for a period of 3 years. It was set actually for achieving certain goals . This was taken for a period of 15 to 20 years., I am getting some tax benefits and it is aimed for good returns too
      Was this review helpful? 0
      , lucknow
      Reviewed on Oct 19, 2017
    • HDFC Life Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have taken a term insurance from HDFC Life. They are very good in services. They send me updates on the policy and also reminders for the payments. The premiums are economical and it is easy to pay it online. This policy had good benefits at the time when I purchased it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 16, 2017
    • HDFC Life Life Insurance
      "Good overall"
      0.5 4.0/5 "Great!"
      It is a normal life insurance policy from HDFC Life. The customer services are good as they send me a reminder 15 days in advance about my payment and the amount and date. The tenure is for seven years and the payment options are convenient. The benefits and coverage could be better.
      Was this review helpful? 0
      , jaipur
      Reviewed on Oct 15, 2017
    • HDFC Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I got the life Insurance policy with HDFC life long back. The plan benefits and the coverage is above average with HDFC life insurance policy. The customer support is above average with HDFC life. I would say it is good to have a life insurance policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • HDFC Life Life Insurance
      "Better"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the HDFC life insurance company and the policy coverage value is fine one with them and the plans were not received by my end, since I have some issues with them and its just under the process.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 14, 2017
    • HDFC Life Life Insurance
      "excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance service with HDFC for 20 k there was not needed with much documents and the customer service is very good and the service was fine but they never update me regarding any new schemes and offers still the overall service is excellent from HDFC for my life insurance service.
      Was this review helpful? 0
      , ernakulam
      Reviewed on Oct 13, 2017
    • HDFC Life Life Insurance
      "Average service"
      0.5 2.5/5 "Just OK"
      The service was average but during the process the representatives promised me a offer of paying the EMI amount but once the process is completed there was no proper response from the HDFC life, representatives I use to call them regarding that but there was no proper response from their end regarding the offer ,overall service provided by HDFC LIFE is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 12, 2017
    • HDFC Life Life Insurance
      "Good policy for children"
      0.5 3.0/5 "Satisfactory"
      I have a children policy for past 1 year. This policy get matured after my child turns to 20years. The customer service is good with HDFC life. The plan benefit and the coverage is good with this policy. It is good policy for the children. I am satisfied having the life insurance policy with HDFC life.
      Was this review helpful? 0
      , warangal
      Reviewed on Oct 11, 2017
    • HDFC Life Life Insurance
      "Good policy"
      0.5 3.0/5 "Satisfactory"
      I got a protect plus life insurance policy with HDFC life. I got this policy around a year ago. This policy has the tenure around 20years. The customer service is good with policy. This policy covers the health coverage as well. I pay the premium of Rs.40,000 annually. The plan benefits and the coverage is average with Hdfc life
      Was this review helpful? 0
      , warangal
      Reviewed on Oct 11, 2017
    • HDFC Life Life Insurance
      "Good experience"
      0.5 4.0/5 "Great!"
      My Life Insurance was taken with HDFC bank . Its a term plan and the tenure period was 60 years The policy coverage is 50 lakhs and premium paid on early basis. I pay through online and Its very convenient also. Its not a corporate Insurance and I do get tax benefit also. My overall experience was good
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Oct 10, 2017
    • HDFC Life Life Insurance
      "Worst service"
      0.5 1.0/5 "Really Bad"
      I am not happy with the service of HDFC life for my insurance service ,representatives of HDFC life is not much helpful, I have taken 2 policy's , so far and I pay my due through online, overall service is not much good as I expected from HDFC life for my insurance service .
      Was this review helpful? 0
      , vadodara
      Reviewed on Oct 07, 2017
    • HDFC Life Life Insurance
      "Good policy "
      0.5 4.0/5 "Great!"
      With HDFC life I hold a life insurance policy. I have this policy for past 1year. This policy has the tenure of 20years. I pay the premium around Rs.20,000 every year. The plan benefits and the coverage is average with this policy, but I am satisfied having this policy.
      Was this review helpful? 0
      , greater noida
      Reviewed on Oct 07, 2017
    • HDFC Life Life Insurance
      "Average"
      0.5 4.0/5 "Great!"
      I am having the term life insurance policy with the HDFC life insurance company and its provided by my organization, also the coverage value is up to 25 lakh Rupees for the life , also am really not much aware of it.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 07, 2017
    • HDFC Life Life Insurance
      "good service"
      0.5 4.0/5 "Great!"
      I had good experience with HDFC regarding my life insurance service ,there representatives and customer service is very helpful . I pay my payment through online I never had any queries with their service ,overall service is good from HDFC.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 06, 2017
    • HDFC Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the HDFC life and the policy coverage value is up to 4 lakh Rupees. Plan benefits are good one with the HDFC life and their customer serivce is working in good way.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 05, 2017
    • HDFC Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the HDFC life and am holding it from the last four years of time. Response is good one for me and their policy coverage value is good one like its around one crore Rupees.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 05, 2017
    • HDFC Life Life Insurance
      "Customer Care"
      0.5 3.5/5 "Pretty good"
      I just had a very nice experience form their customer care, I wanted to know about insurance policies hdfc life is having so I can select something good. I got some good sort of policy option came to my email for me to review - I must appreciate their service and prompt response.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 04, 2017
    • HDFC Life Life Insurance
      "Good Saving"
      0.5 5.0/5 "Blown Away!"
      Every annum I used to pay the premium of Rs. 12,000 it has the tenure of seven years, After the maturity period, I would get the sum assured amount of Rs.1.5 lakhs, if something happened after me my nominees get the reimbursement its a good plan.
      Was this review helpful? 0
      , avinashi
      Reviewed on Oct 03, 2017
    • HDFC Life Life Insurance
      "Better"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the HDFC life insurance company. Customer service is good one and I have taken it recently. Response is good one with them and I have not faced any issues with them, also they have to improve their service. Coverage value is an average one for me.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 03, 2017
    • HDFC Life Life Insurance
      "Better"
      0.5 5.0/5 "Blown Away!"
      I do have the life insruance policy with the HDFC life and the services are good one with them. I would like to say that the premium amount is higher one while compare with other things and their future coverage is good one for me.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 30, 2017
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