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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

    Responsiveness

    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
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance from HDFC Life. I could purchase the insurance online. The tenure is for ten years and there are good plan benefits and sum assured. I would get my maturity amount after the 10th year. The premium is nominal and I can pay it online.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 20, 2018
    • HDFC Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with HDFC LIFE from last 3 months, i am happy with the returns and benefits of this insurance policy. I pay a premium of Rs 40000 on annual basis and this premium i have to pay for 7 years and after 10 years i will get returns of this policy.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Sep 06, 2018
    • HDFC Life Life Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      They had approached me in taking this life insurance policy and the process in starting this insurance has been good. I had been making the payments of premium monthly and the premium amount has been nominal. Their staff responses had been good and there has not been any hassle so far.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Sep 04, 2018
    • HDFC Life Life Insurance
      "average policy "
      0.5 3.5/5 "Pretty good"
      I have take life insurance from Hdfc ergo . Am satisfied with the premium amount which am making the payment This policy covers accidental and critical illness coverage . Their customer representative explained the policy very well before taking the policy . Overall its average policy .
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 04, 2018
    • HDFC Life Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I had taken this insurance policy long time back and the process in taking this insurance policy had been simple. The premium had been paying online and it had been simple in the methods. There has not been any hassles faced with their services so far.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Sep 03, 2018
    • HDFC Life Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have taken a term plan with HDFC LIFE from last 1 year and it is one of the best policy. I pay my premium for Rs 16000 every year through net banking and i am convenient with the payment options. The tenure period for this policy is 40 years and benefits are good in this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 28, 2018
    • HDFC Life Life Insurance
      "Online information just very easy @ bank bazaarinsurance.com"
      0.5 4.0/5 "Great!"
      I have take life insurance from Hdfc life insurance which has of good returns , This coverage also covers accidental and critical illness coverage . I make the payment yearly through online This policy coverage is for life time had to renew yearly . I used to get income tax benefits. Their customer service explained well about the policy.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Aug 27, 2018
    • HDFC Life Life Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have take life insurance from Hdfc life insurance which has of good returns , This coverage also covers accidental and critical illness coverage . I make the payment yearly through online This policy coverage is for life time had to renew yearly . I used to get income tax benefits. Their customer service explained well about the policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Aug 25, 2018
    • HDFC Life Life Insurance
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had taken this insurance policy almost five years back. The payment methods has been good and it has been easy and i had been making the payments online. There has not been any hassles faced with them so far and it is a good insurance policy so far.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 31, 2018
    • HDFC Life Life Insurance
      "Good policy "
      0.5 3.0/5 "Satisfactory"
      I have to pay Rs. 5000 for this policy and the tenure period of the policy is 3 years. I used to pay the premium through credit card net banking. Its a money back policy. I used to a receive a money back after completion of the policy. Their is no risk coverage in this policy. Its a tax benefitable policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 21, 2018
    • HDFC Life Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the HDFC Life life insurance policy for a while. I pay a premium of 50000 Per year, I am getting insurance benefits ULIP bonus amount and 5 lacs coverage, accidental coverage is also there. Considering the features and benefits it is a recommendable policy to have.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 04, 2018
    • HDFC Life Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have a health insurance policy wiht the HDFC Ergo. Monthly I am paying a premium of 280 rupees. It offers accidental benefits of 25 lacs and the features looked promising. Overall it has been a good policy considering the low premium I am paying and never faced any issues so far.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 25, 2018
    • 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 good too. I would like to say that everything is good and their response too. I am happy with them till now and everything is better with the HDFC life insurance company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 20, 2018
    • HDFC Life Life Insurance
      "Best"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the HDFC life and the customer service is good too. Response is also good too. I would like to say that the coverage value is fine one with the HDFC life and everything is better one too.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 19, 2018
    • HDFC Life Life Insurance
      "Good Service so far"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance from the HDFC life. The Sum assured is 50 lacs. I am paying the premium 31000 per year. Overall I never had any issues with their services. HDFC life is a recommendable insurance provider. Based on the features and benefits this policy is a good life insurance policy to have.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
    • HDFC Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have been using Life insurance from Hdfc life . It has good benefits with accidental coverage and critical medical claim . I make payment on line through on line net banking after ever 2 years Their customer service and response is good. Overall am satisfied with my life insurance policy
      Was this review helpful? 0
      , noida
      Reviewed on Jun 18, 2018
    • HDFC Life Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the HDFC Life Insurance policy for a while. I pay a premium of 25000 per year, it also offers accidental benefits and I make payment at the branches. So in terms of features and their service it has been a good experience with them. HDFC Life is a recommendable insurance provider.
      Was this review helpful? 0
      , thane
      Reviewed on Jun 18, 2018
    • HDFC Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have been using Life insurance from Hdfc life . It has good benefits with accidental coverage and critical medical claim . The policy coverage is 60 years with tenure period of 25 years . I pay the payment annually through on line banking . Am getting Income tax benefits from this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 17, 2018
    • HDFC Life Life Insurance
      "Fair service"
      0.5 2.0/5 "Expected more"
      I've a health insurance policy with the HDFC life. I pay a premium of 8000 per year via an agent. I am not aware about the in depth features of the policy. So far the experience has been good with them. It is a recommendable insurance policy to have.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 14, 2018
    • HDFC Life Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a life insurance policy with the HDFC life. I pay a premium of 9000 Per annum, the tenure of the policy is 30 years and I never faced any issues with their services. Overall it is a recommendable policy to have.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 08, 2018
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