SUD Life Pradhan Mantri Jeevan Jyoti Bima Yojana

UIN: 142G047V02 | A Non-Linked Non-Participating One Year Renewable Group Term Insurance Product

SUD Life Pradhan Mantri Jeevan Jyoti Bima Yojana is a one-year renewable group term insurance scheme that provides life cover at low cost to the members who are account holders of Bank/Post Office.

Life cover at low cost
Available for all bank account holders aged 18 - 50 years

Buy Pradhan Mantri Jeevan Jyoti Bima Yojana Online

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What is SUD Life Pradhan Mantri Jeevan Jyoti Bima Yojana?

Q: Is there any free look cancellation available?

In case the Master Policyholder or Insured Member is not satisfied with the terms and conditions of the Master policy/ Certificate of Insurance, he/she may return the policy within the free look period by stating the reasons for his/her objections. The free look period is 30 days from the date of receipt of the Policy Document/Certificate of Insurance. In such event, Member will be entitled to a refund of the amount of premium received by us excluding expenses incurred by us (i.e. stamp duty and proportionate risk related charges for the period of cover). All the rights under this Policy shall immediately stand extinguished at the cancellation of the Policy.

Q: Is there any exclusion under the plan?

Yes, there is a suicide exclusion under the plan. If the life insured commits Suicide, whether sane or insane at that time, within twelve months: From the Date of commencement of risk or from the date of revival of this policy, the Policyholder/ Beneficiary/ Nominee, shall be entitled to an amount which is higher of 80% of the Total premiums paid till the date of death of the Life Insured or the Surrender Value available as on date of death of the Life Assured, provided the policy is in-force.

SUD Life Pradhan Mantri Jeevan Jyoti Bima Yojana is a one-year renewable group term insurance scheme that provides life cover at low cost to the members who are account holders of Bank/Post Office.

Download Plan Related Documents

Product brochure (Prospectus)

Policy Presentation

Policy Document

Revised scheme rules 01-06-2022

Why choose SUD Life Guaranteed Money Back Plan?

SUD Life Guaranteed Money Back Plan is the ideal option for you because of the following points

Death Benefit: In case of death of the Insured Member, the fixed Sum Assured of Rs. 2,00,000 will be payable to the Nominee/ Beneficiary subject to lien period. On payment of death benefit, all insurance cover provided under the Master policy for the Insured Member will automatically terminate.

Testimonials

Know why customers buy life insurance from us

Supporting the Farming Community

SUD Life supported the farming community in Mohpuri in installing drip irrigation equipment in our fields. This has optimized our overall water use and helped farmers tremendously in our village. Using drip irrigation, I now grow 7–9 quintals of cotton per acre as compared to 5–6 quintals per acre earlier. Moreover, this technology ensures that soil retains moisture, improving the quality of the crop as well.

Narayan Sawant, Farmer, Mohpuri

Providing commuting options

I received a bicycle in 2016 from the SUD Life Foundation. Since then, I have been asserting my independence by commuting without anyone’s help. The bicycle has changed my life completely. Today, I can pursue my education without being a financial burden on my family as my cycling to college helps my family save ₹40 per day.

Jayashri Rajendra Ardad, Student, Bolegaon

Providing Income generating opportunities

In 2012, my life took a miserable turn, when after repeated crop failures—due to adverse climatic conditions—agricultural yield declined, and my husband lost his life to a prolonged illness. I was left to fend for my three kids under the age of 10. Around this time, I received a sewing machine from the SUD Life Foundation. Thereafter, I completed a tailoring course in Ambad. The sewing machine helps me provide for my children as well as allows me to work from home with such young kids to care for. Today, I earn ₹200-250 per day. I am truly grateful to SUD Life, as I am capable of raising my children on my own.