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  • HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan

     4.0 / 5.0   by 1037 users
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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: 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
      "Good "
      0.5 2.0/5 "Expected more"
      I am having the life insurance policy with the HDFC life being a policy holder of HDFC life I am very much happy with the support that I received from them. In addition to that, I would like to say that the policy coverage value is around five lakh Rupees. As far as the response is concerned it is okay.
      Was this review helpful? 0
      , kolkata
      Reviewed on Dec 14, 2017
    • HDFC Life Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have a taken a Life Insurance with Hdfc Life.The policy is for 10 years.I make payment of the premium 25,000 yearly,its done through cheque.I have recently taken the policy.I get a coverage of 2.5 lakhs.The website is easy to understand and navigate.
      Was this review helpful? 0
      , dwarka
      Reviewed on Dec 11, 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 customer service is very good. I would like to say that the policy coverage value is fine one with the HDFC life. Everything is good one with the HDFC life.
      Was this review helpful? 0
      , dhrangadhra
      Reviewed on Dec 04, 2017
    • HDFC Life Life Insurance
      "Good company"
      0.5 4.0/5 "Great!"
      I am holding the HDFC life insurance policy from 2011 onward. Response is good one for me and I have not faced any issues with them and there are no drawbacks on it. Everything is good one with the HDFC life insurance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 01, 2017
    • HDFC Life Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      The HDFC life policy has been taken by me around a year ago. I paid Rs,15,000 to policy, The policy coverage e and the plan benefits are good with this policy. I pay the premium through ECS mode and it will get deducted from my salary . It is good to have this policy with HDFC life.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 30, 2017
    • HDFC Life Life Insurance
      "Excellent policy to use"
      0.5 5.0/5 "Blown Away!"
      I am having HDFC Life insurance policy from last 2 years, it was a good experience so far with HDFC LIFE and i did not face any issues with this policy till date. This policy has to be renewed every year and i make a payment on annual basis through ECS. I have filed IT returns for tax benefits and the coverage amount is satisfactory.
      Was this review helpful? 1
      , lucknow
      Reviewed on Nov 29, 2017
    • HDFC Life Life Insurance
      "Better service"
      0.5 4.0/5 "Great!"
      I have taken a Life Insurance with Hdfc Life.I have been using it for past two months.I got a good experience approaching the bank,i pay a premium of 15000 annually,the mode of payment is online its convenient to pay.I get a good policy coverage amount.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 29, 2017
    • HDFC Life Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life Insurance with Hdfc Life.I have been using it for last few years.I pay a premium of Rs 7000 every year,i get a policy amount of one crore if the person expires.Its the best long term policy and every individual should hold.The website is also good to operate.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 28, 2017
    • HDFC Life Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance with HDFC Life. I have chosen HDFC because the services are good. I pay 25K yearly through cheque. The payment option is convenient. The plan benefits and policy coverage are good. It is a tenure of 5 years. After maturity I will get good return.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 28, 2017
    • HDFC Life Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the HDFC life and their customer service is perfect one. I would like to say that the premium value is good one with them while compare with others. I dont have any issues with the HDFC life.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 28, 2017
    • HDFC Life Life Insurance
      "Good policy to use"
      0.5 4.5/5 "Excellent!"
      I hold a life insurance policy with HDFC LIFE from last 1 year and it is a term insurance policy. This policy has to be renewed every year. I pay a premium of Rs 644 on monthly basis through online and i am also convenient with the payment options. I am also satisfied with the coverage and benefits of this life insurance policy.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 27, 2017
    • HDFC Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the HDFC life and the customer service is good . I would like to say that the response and other things are really better one with the HDFC life insurance company and I dont have any issues on it.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 27, 2017
    • HDFC Life Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken a life insurance with HDFC LIFE. its a term insurance. The yearly premium is 70000. After 5 years they will provide some amount. The policy is a benefited one. Online payment facility is available. Good policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 25, 2017
    • HDFC Life Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I hold a life insurance policy with HDFC Life from last 2 years and this policy has to be renewed every year. I pay my premium on monthly basis and the payment is auto deducted through ECS. I am also convenient with the payment options which they are giving. I am also fine with coverage and benefits of this policy.
      Was this review helpful? 0
      , ernakulam
      Reviewed on Nov 23, 2017
    • HDFC Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a Life Insurance with HDFC Life in the year of 2015. The services are up to the mark. Previously the payment will be debited from my savings account but now I am paying through online banking. The benefits and policy coverage are average compared to LIC. I pay premium of 25K yearly. It is a tenure of 10 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 22, 2017
    • HDFC Life Life Insurance
      "Good policy to use"
      0.5 3.0/5 "Satisfactory"
      HDFC life insurance provide good services to their customers when compared to all other policy companies. I hold a HDFC life insurance policy from last 2 years. The insurance policy has to be renewed once in 2 years. I pay my premium of Rs 8000 on annual basis through credit card and i am also convenient with the payment options. The coverage of this policy is up to 50 lakhs and the benefits are also good in this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 21, 2017
    • HDFC Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I recently got the HDFC life insurance policy around a year ago. The customer supper is good with HDFC Life. This policy has the tenure of 10years and I pay the premium of Rs,50,000 per year. I pay the premium through online. The plan benefits and the coverage are good with this policy.,
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 20, 2017
    • HDFC Life Life Insurance
      "Best"
      0.5 3.0/5 "Satisfactory"
      I am having the life insurance policy with the HDFC life and am holding it from the last four years of time. I would like to say that the customer service is overall good one, also am really happy with the HDFC life.
      Was this review helpful? 0
      , agra
      Reviewed on Nov 20, 2017
    • HDFC Life Life Insurance
      "Good Policy to hold"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with HDFC Life. I have been using this life insurance for the past 1 year. Annually I pay Rs. 70000. Total tenure is 16 years and total maturity amount is 6.5 lakh rupees and from 9th year onwards will be getting bonus.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 18, 2017
    • HDFC Life Life Insurance
      "Good Investment to grow my money"
      0.5 5.0/5 "Blown Away!"
      Hdfc agent is my relative he told to take life insurance with them. I make Rs. 2000 on monthly basis, its a Ulip plan, It has the tenure of 10 years and the PPT should be 3 years. So far I invested Rs. 71,000 now it got increased to Rs. 86,000. After the maturity period I get the amount Rs. 5.20 lakhs from them.
      Was this review helpful? 0
      , noida
      Reviewed on Nov 18, 2017
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