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Insurance

Pradhan Mantri Jeevan Jyoti Bima Yojanaa

(UIN - 104G089V01)

A Non Participating One Year Renewable Group Term Insurance Plan

SMS PMJJBY <nominee> Y to 
9717000002 from your registered mobile no.

Cover Period

One year

Low Premium Amount

Rs. 330 per annum plus service tax and education cess, if any

Auto Debit Facility

Premium automatically deducted from account holder's savings account

Death Benefit

Upto Rs. 2 lakhs

Features and Benefits

The insurance cover for the member shall terminate on any of the following events and no benefit will be payable there under:

  • Expiry of Policy Term or Member Coverage Term and non renewal thereafter
  • Date of death of the member
  • Date on which due premiums for this Cover remaining unpaid On Member attaining Maturity Age subject to annual renewal upto that date
  • Closure of account with the Bank or insufficiency of balance to keep the insurance in force.
  • In case a member is covered through more than one account and premium is received by the Max Life Insurance inadvertently, insurance cover will be restricted to one only and the premium shall be liable to be forfeited
  • If the insurance cover is ceased due to any technical reasons such as insufficient balance on due date or due to any administrative issues, the same can be reinstated on receipt of full annual premium, subject to conditions that may be laid down.

The policy can also terminate in accordance with the changes in the Rules of the Scheme notified by the Government of India under Pradhan Mantri Jeevan Jyoti Bima Yojana from time to time.

Life Insurance coverage is available in this product. This Life Insurance Product Is Offered and Underwritten By Max Life Insurance Co. Ltd. The Life Insurance contract is between the Proposer and Max Life Insurance Co. Ltd

Customer should not be insured under Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana under any other Saving Bank Account of any other bank. In case the same is found to exist, premium shall stand forfeited and no claims would be paid.

Policy shall not be issued if nominee details are not provided. No separate intimation shall be provided for the same.

By giving his consent to the scheme, the customer agrees to abide by the terms and conditions of the Scheme and to conveying his personal details, as required, regarding his admission into the Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana to Max Life Insurance Co. Ltd. Under Group Policy no. Max 35001633 certifying coverage as per the Scheme, subject to correctness of information provided regarding eligibility and receipt of consideration amount.

He also agrees that all information shared by him will form the basis of admission to the above Scheme and that if any information be found untrue; his membership to the Scheme shall be treated as cancelled.

The date of commencement of the scheme is 1st June 2015. The next Annual renewal date shall be each successive 1st of June in subsequent years.



Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd Max Life Insurance Co. Ltd.,11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram- 122002 (Haryana). IRDAI Registration No. – 104. For more details on the risk factors, Terms and Conditions, please read the sales brochure carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws.

Insurance is the subject matter of solicitation. For further details, call Toll free number 1800 200 4006

Axis Bank Limited is the Corporate Agent of Max Life Insurance Co. Ltd. Axis Bank Limited, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025. . IRDAI Certificate Regn. No: CA0069.The purchase of a Max Life Insurance product by Axis Bank's customer is purely on a voluntary basis. As Axis Bank is not in the business of insurance, there is no link either direct or indirect between the banking services offered by the bank to its customers and use of the insurance products.

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI clarifies to public that

  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums
  • IRDAI does not announce any bonus

Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

ARN :Max Life/Axis/Website/Content/PMJJBY/ Sept 2017

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