Step by Step Guide for PMJJBY Certificate Download

Do you have a life insurance? This is one of the most common questions asked when planning for personal finance. Having life insurance safeguards you and your family against any uncertain events. But it is usually against a high premium paid by the insured. Hence, it is quite important to plan and invest wisely.

Considering the same, the government developed a new scheme to ensure every citizen has a life insurance plan. It is known as PMJJBY - Pradhan Mantri Jeevan Jyoti Bima Yojana. But do you know what it is? How can you complete the PMJJBY certificate download?

Well, if you are looking for an answer, read this guide to learn all the details. Know everything right, from what PMJJY is to how to download PMJJBY policy certificate here.

What is PMJJBY?

PMJJBY stands for Pradhan Mantri Jeevan Jyoti Bima Yojana. It was launched in 2015 to provide affordable insurance coverage for death, irrespective of the cause. The main reason for the launch of this plan was to increase the penetration of life insurance. As of 2015, only 20% of India’s population had any kind of insurance for them.

It is a yearly policy that needs to be renewed annually. Upon renewal, you can easily download PMJJBY certificate online.

The policy is supported by the Department of Financial Services, Ministry of Finances under the Government of India. The details of the scheme are shared in the table below:

What is the Eligibility for PMJJBY?

Before we explore the steps for the PMJJBY certificate download, it is important to understand its eligibility terms. So, here are the basic eligibility criteria that you must meet.

In addition to the above eligibility terms, you must be aware of the premium as well. The premium is paid on a pro-rata basis. This means your premium for the enrollment year will depend on the month you are taking the insurance.

The annual premium for the insurance is INR 436, which includes the following:

• Fixed Annual Premium - INR 395

• Administrative Cost - INR 11

• Commission Payable - INR 30

Now, you can calculate the premium to be paid in the enrollment year using the table below:

Upon enrolling, you can initiate the PMJJBY policy certificate download online.

Importance of PMJJBY

PMJJBY is a one-year insurance scheme that can be renewed annually. As of 26th April 2023, more than 16.19 crore people have already enrolled in the scheme. Additionally, a total of INR 13,290.40 crore has been paid as claims to 6,64,520 cases.

This showcases the people's trust in this government scheme. However, there are various points that define the importance of PMJJBY. These are as follows:

Financial Security for Families

PMJJBY is a government life insurance policy that provides cover of INR 2 lakh at a very low cost. This can significantly help reduce the financial burden and help families in case of the breadwinner's demise. This can be helpful in case of critical time.

Promotes Financial Inclusion

Still, many people in India do not have life insurance policies. This is mainly due to the high premium associated with life insurance policies. But PMJJBY changed this notion. At just INR 436 PA, people now get a life insurance policy. This increases the penetration of insurance among individuals and encourages better financial planning. 

Reduces Financial Disparity

PMJJBY is reducing the country's financial disparity. Allowing people to get life insurance with such a low-cost premium reduces the socio-economic gap. This is also helping people to have financial protection and readiness.

Strengthening the Insurance Sector

PMJJBY contributes to the strengthening of the insurance sector. It is helping to increase the number of people covered under insurance policies. This broader base helps distribute the risk and supports the overall health and growth of India's insurance sector.

Now that you know the importance of PMJJBY, let us explore how to download PMJJBY certificate.

How to Apply for PMJJBY Policy?

Applying for the PMJJBY policy is simple. The steps that you need to follow for the application are listed below:

1. Visit your nearest branch or post office.

2. Ask for the application form. You can also go to the official website for the forms.

3. Fill in all the details as asked.

4. Ensure you mention your name, DOB, bank details, and other details properly.

5. Attach the KYC, which includes the Aadhar Card and PAN. While applying for PMJJBY, ensure that your Aadhar is linked to your mobile number.

6. Add the nomination in the form.

7. Pay the premium amount, and your policy process is complete.

8. Once you are done, you can ask for the PMJJBY certificate download. 

How to Check PMJJBY Policy Status?

While you move ahead with the PMJJBY download certificate, it is important to go ahead with the status check as well. The steps that you would need to follow are as follows:

1. Go to your bank’s official website.

2. Login using your credentials.

3. Visiting the section on investments or insurance.

4. You will be able to locate the PMJJBY policy there.

5. If not, input your PMJJBY policy number, and all the details will be reflected in minutes.

Now that you have checked your policy status, let us quickly explore the steps to download PMJJBY certificate.

Steps to Download PMJJBY Certificate Online

For the PMJJBY certificate download online, there are some simple steps that you must follow. The ones are mentioned here:

Step 1: Search for Official Website

Start by searching for the official website where you applied for the PMJJBY. It is usually your bank or insurance provider. You need to visit that website and start the process simply.

Step 2: Log in to the Website

Here, you need to log in. Use your ID and password for this. Please remember, if you do not have the ID or password, you would first need to register. For this, just follow the instructions online. If you forget your ID or password, reset it and then log in.

Step 3: Look for PMJJBY Section

Once logged in, you will be able to see a section for PMJJY or government policies. You will generally find it under ‘Social Security Schemes’ or ‘Insurance Services’. Once found, click it.

Step 4: Look for Download Option

Next, you need to download it. Find the ‘Download’ option there. There you would be able to find many options. Search for ‘Download Certificates.’

Step 5: Complete the Verification

In this stage, you will be asked to complete the verification process. You would be asked to enter a few details for verification. Generally, it includes demographic details like date of birth, policy number, and so on.

Step 6: Check Your Details

Before downloading, check all your details on the screen. This is to avoid any mistake in the policy. If everything is fine, you can now move ahead in the process.

Step 7: Start the Download

Click on ‘Download Now.’ The process to get the certificate downloaded will now be initiated. The PDF will be downloaded. Ensure to save it for future use.

Step 8: Print the Certificate

Now print the PDF. You now have the hard copy of the policy document with you.

Thats it! The process to download the PMJJBY certificate ends here.

Common Issues While Downloading PMJJBY Certificate

While the PMJJBY certificate download is quite simple, you might face certain issues during the process. The common problems with solutions are as follows:

Benefits of having a PMJJBY Certificate

When you have the PMJJBY certificate downloaded, you will enjoy various benefits. The primary benefits that you gain by having this certificate are as follows:

Proof of Insurance Coverage

With the PMJJBY certificate download, you will have proof of insurance. This certificate verifies your involvement in the scheme. Additionally, this certificate ensures that you have insurance and provides peace of mind to you and your family. 

Easy Claim Process

To claim the insurance, you need to fill out the form and also present your PMJJBY certificate. If you have the insurance document with you, the entire claim process can be simplified. This will simplify the entire process. 

Assurance of Policy Details

PMJJBY certificate includes all the details of the policy holder. It is mentioned in a systematic and streamlined manner. Every single detail can be checked from here. This helps in keeping a clear record of the insurance terms and facilitates easy reference when needed. 

Renewal Reminders

PMJJBY is a yearly policy. You need to get it renewed every year. With the certificate, you can stay updated about the dates and details. This will ensure that there are no lapses in the policy or the coverage.  

Financial Security and Compliance

PMJJBY certificate download also acts as an important document for financial security and compliance. The physical document allows you to check all the details and keep everyone updated as well. 

Conclusion

PMJJBY is one of the best plans initiated by the government. It is mainly focused on the lower class and is helping them secure their lives. It is changing the way people pursue insurance and helps in better financial planning.

Ensuring the PMJJBY certificate download on time will ensure you enjoy all the benefits. In fact, this document is the key to enjoying all the benefits provided under PMJJBY and having a streamlined claim process.

So, are you done with your personal financial planning? Well, if not, then download the Rupeezy app and start looking for the best financial solutions for you. Use Rupeezy to compare insurance, mutual funds, and a lot more to make the right financial choice.

FAQs

1. Can eligible individuals apply for the PMJJBY now?

Yes, eligible individuals can apply for the PMJJBY now as well. You can do this by paying the premium amount, form and submitting the certificate of good health.

2. Can NRIs also apply for the PMJJBY?

Yes, NRIs can also apply for the PMJJBY. If they complete all the eligibility conditions, then NRIs can apply for PMJJBY. However, the claim will be paid to Nominee in India.

3. Can I cancel the PMJJBY policy?

Yes, you can cancel PMJJY. If you fail to pay the premium or if your auto-debit is stopped, then your policy will be stopped on its own. You need to do this before April 30 of the year.

4. Do you get tax benefits on PMJJBY? 

The premium paid for the PMJJBY is eligible for benefit under section 80C of the Income Tax Act.