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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
      "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? 0
      , 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
    • HDFC Life Life Insurance
      "Good"
      0.5 3.0/5 "Satisfactory"
      I had the life insurance policy with the HDFC life and I have closed it because of my personal reason. I would like to say that the services aspects are okay with the HDFC life. I am really happy with the HDFC life.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 07, 2018
    • HDFC Life Life Insurance
      "One of the best policy"
      0.5 4.0/5 "Great!"
      I do have the HDFC life insurance policy and am using it from the last ten years of time. I would like to say that the services are really fine one and the trends are good one with the HDFC life. I have not found any disadvantages with them.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 07, 2018
    • HDFC Life Life Insurance
      "Good"
      0.5 3.0/5 "Satisfactory"
      I do have the life insurnce policy with the HDFC life insurance company and the customer service is okay one for me. Everything was on track with them. Coverage value is seems to be okay with the HDFC life, also its a kind of average.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 07, 2018
    • HDFC Life Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I was using the HDFC Ergo life insurance policy for . I paid a premium of 1500 year, I closed the policy. I made the payments online. As there was no benefit I closed this policy. Overall I never faced any issue with their services.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 06, 2018
    • HDFC Life Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a life insurance policy from HDFC Life. I pay a premium of 2000 Per month, payments are online. This policy have any commendable features. The sum assured is 2 lacs. I never faced any issues with the payments and the policy.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 06, 2018
    • HDFC Life Life Insurance
      "Best Policy"
      0.5 4.5/5 "Excellent!"
      I got the HDFC Life policy along with my personal loan. This policy cover upto 1 lakh. I'm paying the premium amount of Rs. 2700. I did not make any payment for that. HDFC people itself deducted from the loan. It is death coverage policy. The policy name is surva suraksha policy. Tax benefitable and their no medical check up required in this policy.
      Was this review helpful? 0
      , rajkot
      Reviewed on Jun 05, 2018
    • HDFC Life Life Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I have a term insurance with HDFC LIFE from last 3 years and it is one of the good policy to use. I pay my premium once in a year through net banking services and i am convenient with the payment options. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 04, 2018
    • HDFC Life Life Insurance
      "Perfect policy to use"
      0.5 5.0/5 "Blown Away!"
      I got the HDFC Eulip life insurance plan and I have got this around a month ago. This policy has the tenure of 5years. The policy has benefits like life cover, tax benefit and etc. I pay the premium through online and I would say it is a good policy to use.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 04, 2018
    • HDFC Life Life Insurance
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken this insurance mainly because as i used to travel to many place for security of family i had taken as it is low premium amount which will be added to my loan amount. Where the claim can be taken only on dismissal and permanent disability. I got my hard copy from bank , there is no processing fees.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 02, 2018
    • HDFC Life Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have been taken Life insurance from Hdfc life . It has good benefits with accidental coverage and critical illness coverage with normal premium amount . The policy coverage is 60 years with tenure period of 20 years . I pay the payment annualy through online banking by Neft .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 02, 2018
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