Bank of Baroda


Branch Locator
Application Forms
Important Links

Pradhan Mantri Jeevan Jyoti Bima Yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana is a Govt. Sponsored Life Insurance Scheme. The scheme is a one year cover Term Life Insurance Scheme, renewable from year to year, offering life insurance cover for death due to any reason.

The scheme is offered / administered by Bank of Baroda through M/s India First Life Insurance Company.

The salient features of the scheme are given below:

Eligibility: All Savings Bank Account holders in the age 18 to 50 years can join this scheme. In case of multiple saving bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one savings bank account only.

Policy period : From 1st June to 31st May of subsequent year

Premium: Rs.330/- per annum per member for insurance upto Rs 2 Lacs.

The premium will be deducted from the account holder's savings bank account through 'auto debit' facility in one installment, as per the option given, on or before 31st May of each annual coverage period under the scheme. Delayed enrollment for prospective cover after 31st May will be possible with full payment of annual premium and submission of a self-certificate of good health.

Enrollment Mode: An account holder can enroll for PMJJBY by any of the following methods

  1. Visiting the branch
  2. Visiting the BC
  3. Through Baroda Connect (Internet banking)

Individuals who exit the scheme at any point may re-join the scheme in future years by submitting a declaration of good health in the prescribed Performa.

Insurance Benefits: The details of insurance benefit are given below.



Sum assured


2 lacs

Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot

2 lacs

Total or irrecoverable loss of sight of one eye or loss of use of one hand or foot

1 lac

Termination of assurance : The assurance on the life of the member shall terminate on any of the following events and no benefit will be payable under the following scenarios:

  • On attaining age 55 years (age neared birth day) subject to annual renewal up to that date (entry, however, will not be possible beyond the age of 50 years).
  • Closure of account with the Bank or insufficiency of balance to keep the insurance in force.
  • In case of multiple coverage under the scheme, insurance cover will be restricted to Rs. 2 Lac and the premium shall be liable to be forfeited.
  • Other important terms and conditions

  • If the insurance cover is ceased due to any technical reasons such as insufficient balance on due date or due to any administrative issues, the same can be reinstated on receipt of full annual premium and a satisfactory statement of good health. During this period, the risk cover will be suspended and reinstatement of risk cover will be at the sole discretion of UC / insurance company concerned.
  • The assurances granted under the scheme are subject to an initial lien of 45 days. No claim is admissible for deaths during the first 45 days from the date of commencement of risk. However the same is not applicable if cause of death is due to accident. No lien is applicable on subsequent renewals.
  • Exclusions and other details can be viewed in Master Policy
  • Application Form
    Claim Form
    Master Policy

    © 2017 Bank of Baroda. All rights reserved. Disclaimer For optimum view of this site you must have IE 5.0 and 1024 by 768 pixels
    chic logo