• HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan

     4.0 / 5.0   by 1068 users
    Used this product? Write a review >>

    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
      "Average service"
      0.5 3.0/5 "Satisfactory"
      Hdfc Life insurance service is good. I have taken it for the term period of 35 years and I have one policy with Hdfc Life. They use to update me with new schemes and offers through email. The documentation part has been smooth. It is a average service from Hdfc Life insurance service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • HDFC Life Life Insurance
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life Insurance with HDFC Life,The premium amount is 15,000 in year,the policy is for five years,the policy coverage amount is eight lakhs .Its been a year since i have taken this policy.The customer service is good and give prompt response to the customers.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 13, 2018
    • 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 super one. I would like to say that the coverage value is around one crore Rupees. I am really happy with the HDFC life insurance company. Everything is up to the mark with them till now.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Feb 09, 2018
    • HDFC Life Life Insurance
      "Fabulous"
      0.5 4.0/5 "Great!"
      I do have the life insurance policy with the HDFC life and the response is good one and the coverage value is depends up on the market fluctuation regarding up on the market investment sector, so the return values are not really a commitment factor.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 07, 2018
    • HDFC Life Life Insurance
      "Excellent"
      0.5 4.0/5 "Great!"
      From the last three years of time, I do have the HDFC life and the coverage value is fine one for me. Its a kind of investment plan in SIP. HDFC Excel growth is the policy name and the returns are depends on market fluctuation.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 07, 2018
    • HDFC Life Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I have a Life insurance with Hdfc Ltd,the service was good. The new schemes and offers they provide me was good which was helpful The payments are generally through online . It was totally a good experience with Hdfc Ltd life insurance service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 05, 2018
    • HDFC Life Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have a term insurance from Hdfc,the service is good with Hdfc. The benefits is single benefit. Hdfc staffs are friendly in approach. The payments are through online. The documents procedure was been smooth. It was totally a good experience with Hdfc life insurance service.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 03, 2018
    • HDFC Life Life Insurance
      "Best insurance policy"
      0.5 5.0/5 "Blown Away!"
      I have taken life Insurance with HDFC Life.The premium amount is 35,000 per annum.This policy is taken 5years back.The total policy is for seven years.i get good policy coverage amount.The plan name is sampoorna samridhi,i have no claim experience with them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 02, 2018
    • HDFC Life Life Insurance
      "Better "
      0.5 3.0/5 "Satisfactory"
      I do have life insurance policy with the HDFC life insurance company and the customer service is okay one for me. Plan benefits are fine one for me with the HDFC life and their coverage value too. Everything went in the smooth manner with them till now.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 02, 2018
    • HDFC Life Life Insurance
      "Better "
      0.5 3.5/5 "Pretty good"
      I do have the life insurance policy with the HDFC life and the customer service is good too. Service aspects are okay one for me with them. I would like to say that the plan benefits are good too with the HDFC life insurance company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 02, 2018
    • HDFC Life Life Insurance
      "Wonderful"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the HDFC life insurance company. Coverage value and the benefits are okay according to the premium. I would like to say that the customer service is an excellent one with the HDFC life insurance company.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 02, 2018
    • HDFC Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with HDFC LIFE from last 1 year and it is a good insurance policy to use. The tenure of this life insurance policy is 2 years and i pay a premium of Rs 390 on monthly basis through ECS. I am convenient with the payment options which they are giving. I have a coverage of Rs 20 lakhs for this insurance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 29, 2018
    • HDFC Life Life Insurance
      " A good insurance"
      0.5 4.0/5 "Great!"
      I had a life insurance policy in Hdfc Life. My life insurance policy covers all Benefits. I feel very comfortable while am renewing the policy. I choose on line payment to renewal the policy on time. I am comfortable with the HDFC Life insurance policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 28, 2018
    • HDFC Life Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life insurance service from Hdfc ,the service is good with Hdfc. I have taken two policy's for the term period of 15 years. I am paying 25k yearly as a premium. They used to update me regarding new schemes and offers also the customer service was good with Hdfc life insurance team.It was an excellent experience with Hdfc life insurance service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 25, 2018
    • HDFC Life Life Insurance
      "Good Investment"
      0.5 5.0/5 "Blown Away!"
      I have taken a child plan with HDFC life and felt this Insurance is one of the best in the market. I need to pay Rs.25000 yearly for five years and my child would be getting a sum assured at the end of the maturity period. The payment option of them is quite good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 24, 2018
    • HDFC Life Life Insurance
      "Best insurance policy"
      0.5 5.0/5 "Blown Away!"
      I have taken Term Insurance with HDFC Life.Th premium amount is 11,000,its been two years since i have this policy,this policy is for 40 years i get policy coverage amount of one crore in case of accident.Net banking is good and efficient to use.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 23, 2018
    • HDFC Life Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have an Life insurance service from Hdfc Life insurance. The policy's I have taken is good and it has lots of benefits too. They used to update me regarding new schemes and offers and the payments will be deducted from my account through ECS. It was an average service from Hdfc life insurance service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 19, 2018
    • HDFC Life Life Insurance
      "Poor Service!! Once after payment, they will forget you"
      0.5 1.5/5 "Bad"
      HDFC Life backend and medical teams are very unprofessional. I have been waiting for a form from the backend team, but they have no clue of it on how to find and send it. Even after multiple requests from 5 days, they were not able to send it. They will always say that your request will be fulfilled on a priority basis. If that is really been a priority, why it will take 5 days to just send a single form. My medical appointment has been scheduled thrice and never been confirmed even after multiple escalations. I have been fed up of following-up with them. They will always say, you will receive the confirmation by the end of day, but you will never receive it. Never expected this from a private service provider. Public companies are a lot better. I will never suggest my friends to go with hdfc life. Customers look like jokers for them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 17, 2018
    • HDFC Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I had taken ULIP policy with HDFC life, I have deposited 7.5L rupees in the year of 2010. The expected future value was 20L and today it was 13.5L. Whenever I need any help will visit the branch. The online services are good and i had used one or two times. The maturity period was 10 years and their locking period is 3 years, amount varies accordingly.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 16, 2018
    • HDFC Life Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the HDFC life and the customer service is good one for me. I would like to say that the coverage value is also good one for me with the HDFC life insurance company and I dont have any such complaints.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 10, 2018
    Common Loader Icon
    Page 1 of 50 1 2 3 4 5
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.