Pradhan Mantri Jeevan Jyoti Bima Yojana

• Eligibility: The Kota Central Co-operative Bank Savings Bank (SB) Account holders between 18 years (completed) and 50 years (age nearer birthday) who have given the consent to join the scheme / enable auto-debit, as per the modality, will be enrolled into the scheme.
• Policy period: The cover shall be for one year starting from June 1 to May 31 of next year. For the Savings Account holder joining on or after June 1, the cover shall commence from the date of Account holder’s request and end on May 31 of next year.
• Premium: As per the guidelines by Ministry of Finance, the annual premium for PMJJBY scheme was constant at Rs 330 for a period of 1 year starting from June 1 to May 31 irrespective of the request date of the customer into the scheme.

• Risk Coverage: Sum assured of Rs 2 lakh on death of the Insured member for any reason is payable to the Nominee..

Termination of assurance:

• Account holder attains age of 55 years
• Closure of account with the bank or insufficiency of balance for debiting premium.

Terms and conditions:

• If a customer is having multiple Savings Account with the bank, then only one PMJJBY policy will be issued. In case multiple policies are found to exist, the premium(s) of such multiple policies shall be refunded to the customer’s respective account and no claims would be paid for such additional policy requests.
• For all enrolments from June 1, 2016, the risk cover will commence only after completion of 45 days from the scheme enrolment date by the customer. Death due to accident will be exempted from the 45 days cooling period.
• Customer will have to pay premium as per the scheme requirement.
• Any information provided by customer if found to be untrue, the membership to the scheme shall be treated as cancelled from the date of joining the scheme and all premium paid in respect thereof shall stand forfeited.
• Joint account holders can enrol for the PMJJBY scheme by submitting a separate request for enrolment at The Kota Central Co-operative Bank branch only.