To qualify for life insurance coverage under PMJDY, certain provisions must be met. The account holder must have opened their account before January 26th, 2015. Only one person per household is eligible for coverage, usually the head of family. While minors over 10 can open accounts, coverage is only for those 18-59 years old. The account holder must have a valid RuPay debit card linked to their account at the time of death to process claims. They must also have their Aadhar card linked to their bank account for payouts.

1. PROVISIONS TO QUALIFY
PMJDY
PM Jan-Dhan Yojana : Background
& Description
Part-10

2. Features & Benefits
Key Features of the Life Cover include:
• Sum insured or death benefits – Rs.30,000
• Entry age – 18 years
• Exit age – 59 years i.e. up to but not including 60 years (subject to the
scheme being valid)
• Validity – 5 years i.e. until 2019-20 or when the insured person turns 60
years, whichever is earlier
• No. persons covered – One accountholder per family, usually the head of the
family Linked to RuPay Debit Card –to be valid at time of death of the
insured for claims to be processed

3. Features & Benefits
Eligibility for the Life Cover - Certain provisions to qualify for protection under the
life insurance scheme.
• This scheme applies to only those accountholders who opened their
accounts under the PMJDY scheme before January 26th 2015.
• Only one accountholder per household can avail coverage under this
life insurance scheme. This person is usually the head of the family or
may be an earning member of the family.
• Although accounts can be opened for minors above the age of 10, life
insurance coverage under this scheme will only be available to those
who have completed 18 years of age.

4. Features & Benefits
• The insured accountholder can avail coverage only up to 59 years of age. On
completing 60 years, coverage is automatically discontinued.
• To avail benefits of life insurance protection under this scheme, the
accountholder must have a valid RuPay Debit Card. This card must be in effect at
time of death of the insured accountholder in order to process claims.

5. Features & Benefits
• The insured person should also have a bio-metric card e.g. Aadhar Card
linked to a bank account to which claim payout will be transferred (includes
any account including a temporary account created under the PMJDY
scheme). In case of joint accounts, only the person named as the first
holder is eligible for coverage.
Jan Dhan is set to be a universal social security framework in India. The
government will launch Pradhan Mantri Suraksha Bima Yojana, the Atal Pension
Yojana and the Pradhan Mantri Jeevan Jyoti Bima Yojana which have been
announced in the budget.

6. THANK YOU
Read full report on: http://www.slideshare.net/ResurgentIndia/pm-jan-dhan-yojna-final-report
Email: jyoti.gadia@resurgentindia.com Call Us: +91 124 4754550
www.resurgentindia.com