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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 service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my life insurance with HDFC Life, there service is good they have charged premium up to 9000 rupees per year, it use to get auto debited from my account and there customer service is good they explained me about all policy it cover in this life insurance.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Nov 15, 2018
    • HDFC Life Life Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this insurance policy a long time back and the process was done online. I had been making the payments on a monthly basis and the premium amount of 1000 has been good. The premium method also has been good and there has not been any hassle faced with them so far.
      Was this review helpful? 0
      , gandhidham
      Reviewed on Nov 14, 2018
    • HDFC Life Life Insurance
      "Good "
      0.5 5.0/5 "Blown Away!"
      I have taken 2 life insurance policies with HDFC Life, one was taken in the year 2007 and other is year back. I am very much satisfied with the policy coverage and benefits. They have introduced term plan and giving partial disability benefits. I am paying the premium of 3700 rupees monthly through ECS.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 13, 2018
    • HDFC Life Life Insurance
      "Good policy to have"
      0.5 5.0/5 "Blown Away!"
      I hold a term insurance with HDFC worth of Rs. 15 lakhs. I opened a term insurance in the year of 2013. I have been paying the premium of Rs. 6174. I have chosen the annual payment mode. Total tenure period of the policy 15 years. This is tax benefitable policy. Since I'm a existing customer of HDFC, i have chosen the same company.
      Was this review helpful? 0
      , dehradun
      Reviewed on Nov 13, 2018
    • HDFC Life Life Insurance
      "Good for saving with Tax benefits"
      0.5 4.0/5 "Great!"
      I have ULIP plan with HDFC Life, I pay the premium around Rs. 15,000 per annum based on market rate I get the benefits , it has locking period from 3 to 5 years. I can check my details directly with the bank, staff will check and update the information. The plan has tax benefits is good.
      Was this review helpful? 0
      , nagpur
      Reviewed on Nov 12, 2018
    • HDFC Life Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with HDFC LIFE from last 1 year, i am happy with the coverage value of this insurance policy. A premium of Rs 12000 has to be paid for this insurance every 6 months and i pay it through online. The tenure period for this policy is 15 years.
      Was this review helpful? 0
      , nellore
      Reviewed on Oct 31, 2018
    • HDFC Life Life Insurance
      "Beneficial"
      0.5 4.0/5 "Great!"
      I took one life insurance policy in HDFC LIFE. I don't know much about this policy, My friend made me to take this policy because of good benefits. Executive told me, its a saving plan and every year need to pay 30K for the next 7 years then the remaining will be paid by them for 3 years. Total duration is 10years and it will be beneficial and not sure about the full value. I pay the premium through card. After experiencing the benefits, I can recommend this policy to others.
      Was this review helpful? 0
      , gurdaspur
      Reviewed on Oct 31, 2018
    • HDFC Life Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance with HDFC life. they have charged me nominal premium amount and i pay premium through any mode of payments there is no particular payment mode and till now i have no issue with their service, based on the features and benefits this policy is a good life insurance policy to have.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 30, 2018
    • HDFC Life Life Insurance
      "Great card"
      0.5 4.5/5 "Excellent!"
      I have been using the HDFC Life Insurance policy for a while. they charge nominal premium for this policy 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
      , gurgaon
      Reviewed on Oct 30, 2018
    • HDFC Life Life Insurance
      "Not happy"
      0.5 4.0/5 "Great!"
      I have taken a life insurance from HDFC Life in January 2018. It was recommended by colleague. I am paying the premium through online. For a year paying 50K and need to pay for a 10 years. After the maturity period,the return will be 7 to 8L. I have received the hard copy and soft copy for the policy within a week.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 29, 2018
    • HDFC Life Life Insurance
      "Maturity benefit from HDFC Life Insurance"
      0.5 0.5/5 "Unacceptable"
      Please don't take any policy from HDFC Life Insurance. especially Sampoorn Samridhi Plan. You will get same premium amount after 6 years without any additional. They are no.1 cheaters. I have taken the above policy. The annual premium was Rs.1 Lakh and I have paid total premium amount Rs. 5 Lakhs. After 6years I have received the maturity amount Rs.4.95 Lakhs only. If I deposited in the bank in fixed deposit with 7% interest I can get Rs. 7.34 Lakhs. So, Please don;t prefer HDFC Life insurance. They are no.1 cheaters.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 28, 2018
    • HDFC Life Life Insurance
      "Good policy"
      0.5 3.0/5 "Satisfactory"
      I took this Life insurance from Hdfc Life mainly because of the good returns, s , the payment am doing through on-line every year through online payments . The best about the policy is it covers accidental coverage and critical illness There customer service and customer response is good .
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Oct 26, 2018
    • HDFC Life Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance policy from Hdfc Life based on the benefits and income tax benefits i have chosen this policy . I make the payment quarterly directly in to their office . Their customer service is good as they respond that much.This policy covers the tenure period of 20 years.
      Was this review helpful? 1
      , mumbai
      Reviewed on Oct 15, 2018
    • 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? 1
      , 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? 1
      , 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
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