Bank of Baroda (PMJJBY) Archives - Tax Heal https://www.taxheal.com/tag/bank-of-baroda-pmjjby Complete Guide for Income Tax and GST in India Tue, 30 Jun 2026 09:43:10 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 Bank of Baroda Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY) Form Download https://www.taxheal.com/bank-of-baroda-pradhan-mantri-jeevan-jyoti-bima-yojanapmjjby-form-download.html Tue, 30 Jun 2026 09:43:10 +0000 https://www.taxheal.com/?p=134999 Bank of Baroda Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY) Bank of Baroda Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY) Form Download The Bank of Baroda Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Consent-cum-Declaration Form allows account holders to enrol in the government’s flagship life insurance scheme (pmjjby-con… pp. 1, 5). Here are the key points from… Read More »

]]> Bank of Baroda Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY)

Bank of Baroda Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY) Form Download

The Bank of Baroda Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Consent-cum-Declaration Form allows account holders to enrol in the government’s flagship life insurance scheme (pmjjby-con… pp. 1, 5).
Here are the key points from the document:

🛡 1. Insurance Cover & Benefits

  • Coverage Amount: Offers a life insurance cover of ₹2,00,000 (Two Lakh Rupees) (pmjjby-con… pp. 1, 5).
  • Risk Commencement: Your risk cover officially begins from the exact date the premium is successfully auto-debited from your bank account (pmjjby-con… pp. 2, 5).
  • Lien Period Clause: A strict 30-day structural lien period applies from your date of enrolment (pmjjby-con… p. 5). If death occurs within these first 30 days due to any cause other than an accident, no insurance claim will be admissible (pmjjby-con… pp. 1, 5). (Note: The Hindi translated text on page 1 mention 45 days, but the primary master scheme rule on page 5 overrides it at 30 days) (pmjjby-con… pp. 1, 5).

💰 2. Premium Structure & Auto-Debits

  • Annual Renewal Premium: A recurring amount of ₹436 per year is auto-debited annually between 25th May and 1st June for continuous coverage renewal (pmjjby-con… pp. 1, 5).
  • Pro-Rata Premium Structure: For initial year enrollments, premium is broken down quarterly depending on the joining month (pmjjby-con… pp. 1, 5):
    • June, July, August: Full annual premium of ₹436 (pmjjby-con… pp. 1, 5).
    • September, October, November: Three quarters premium of ₹342 (pmjjby-con… pp. 1, 5).
    • December, January, February: Two quarters premium of ₹228 (pmjjby-con… pp. 2, 5).
    • March, April, May: One quarter premium of ₹114 (pmjjby-con… pp. 2, 5).

⚠ 3. Multiple Nomination Restrictions

  • Single Account Rule: You must declare that you have not authorised any other bank or post office to debit a PMJJBY premium (pmjjby-con… pp. 1, 5).
  • Forfeiture Clause: If you make multiple registrations across different banks, your cumulative cover remains capped at ₹2 Lakh, and any extra premiums paid across other accounts will be permanently forfeited (pmjjby-con… pp. 1, 5).

📋 4. Key Information and KYC Needed

  • Permissible KYC Documents: You must attach a copy of an officially valid identity proof, limited to: Aadhaar Card, Voter ID (EPIC), MGNREGA Job Card, Driving License, PAN Card, or Passport (pmjjby-con… pp. 3, 6).
  • Nominee Details: Mandatory section to document the Nominee’s name, address, birth date, and relationship to the account holder (pmjjby-con… pp. 2, 6).
  • Appointee/Guardian: If the designated nominee is a minor, you must appoint a legal guardian, including their full contact details (pmjjby-con… pp. 2, 6).

]]>