India’s government-backed insurance schemes, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), are designed with an intent to provide affordable coverage to millions, ensuring financial protection against unforeseen circumstances.
Both the schemes in their own way offer invaluable support, understanding the claim process is crucial to ensure beneficiaries receive their entitled benefits promptly.
Here’s a detailed guide to help you navigate the
- Claim process for PMJJBY
- Claim process for PMSBY
Claim Process of PMJBY
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme that offers coverage in case of death due to natural causes or accidents. Here’s how the claim process works:
If the insured passes away during the policy term, the nominee can file a claim.
Report the Death
Notify the bank branch where the policy was purchased about the policyholder’s demise.
Obtain the Claim Form
Collect the claim form from the bank or you can also download it from the bank’s website.
Required Documents
- Death certificate.
- Identity proof of the nominee (Aadhar card, PAN, etc.).
- Copy of the deceased’s bank passbook or statement.
- Cause of death (if accidental, a police report or post-mortem certificate).
- Submit the Documents:
- Fill out the claim form accurately and submit it with the required documents to the bank.
Verification
The bank verifies the documents and forwards the claim to the insurance provider.
Claim Disbursement
Once approved, the claim amount of ₹2 lakh is transferred to the nominee's bank account.
Also Read: All you need to know about PMJJBY and PMSBY
Claim Process of PMSBY
The Pradhan Mantri Suraksha Bima Yojana (PMSBY) offers financial support for accidental death, permanent total disability, and partial disability. Below is a step-by-step guide to the claim process:
Immediate Notification
In the event of an accident, the insured or nominee (in case of the insured's death) must promptly notify the bank where the PMSBY policy is registered.
Obtain the Claim Form
The claim form can be collected from the bank, or designated insurance companies, or downloaded from the official website.
Submission of the Claim Form
Fill out the claim form completely and accurately. Submit the claim form to the bank branch within 30 days of the accident.
Supporting Documents Required
For Accidental Death
- Original FIR
- Post-mortem report
- Death certificate
For Disability Claims
- Disability certificate issued by a Civil Surgeon
- Discharge certificate
- Additional documents:
- Bank account details for verification
- Succession certificate (if no nominee is appointed)
Bank Verification and Forwarding
The bank will verify the account details of the insured and validate the claim form. After verification, the bank will forward the claim to the insurance company within 30 days of submission.
Insurance Company Review
The insurance company will confirm if the insured individual is listed under the master policy. Upon verification, the claim will be processed within 30 days of receiving the documents from the bank.
Claim Settlement
The admissible claim amount will be transferred to the nominee's or insured's bank account. If no nominee is appointed, the claim amount will be paid to the legal heir upon submission of the succession certificate.
Key Points to Remember for Both PMJJBY and PMSBY Claims:
- Nominee’s Role: The nominee plays a key role in the claim process for both PMJJBY and PMSBY. The nominee should ensure timely submission of all required documents to avoid delays.
- Required Documents: Always ensure that the necessary documents like the death certificate, FIR (for death claims), disability certificate (for PMSBY), and other supporting documents are in order.
- Claim Form: The claim form needs to be completed correctly and submitted to the bank within the stipulated time frame.
- Claim Processing Time: The claim settlement under both schemes is usually completed within 30 to 60 days from the date of claim initiation, provided the documents are in order.
Bottom Line
Both PMJJBY and PMSBY are incredible initiatives by the Government of India, providing affordable insurance coverage for the common man. These schemes offer financial protection during unfortunate times of death or disability. Understanding the process of filing a claim is crucial in ensuring that the policyholder’s family or the affected individuals receive the benefits on time.
If you're a policyholder or a nominee, make sure to keep track of your renewal dates and maintain the necessary documentation so that in case of an emergency, the process for claiming these benefits remains smooth and hassle-free.
Also Read: How to Make Health Insurance Premium Payment Online
FAQs on PMJJBY and PMSBY
What is PMJJBY and PMSBY?
- PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) is a life insurance scheme that provides coverage for death due to natural or accidental causes.
- PMSBY (Pradhan Mantri Suraksha Bima Yojana) is an accident insurance scheme that offers coverage for accidental death, total disability, and partial disability.
How long do I have to submit the claim form for PMJJBY and PMSBY?
- For PMJJBY, the claim form must be submitted within 30 days of the insured’s death.
- For PMSBY, the claim form must be submitted within 30 days of the accident occurrence.
Can the claim be rejected?
Yes, claims under both schemes can be rejected under certain circumstances, such as:
- Non-submission of required documents.
- Claims made after the stipulated time frame.
- If the insured was not covered under the scheme at the time of the claim.
- If the cause of death or disability is excluded under the terms and conditions (e.g., suicide for PMJJBY or non-permanent disability for PMSBY).
Is there any tax benefit on premiums paid under PMJJBY and PMSBY?
Yes, the premiums paid under both PMJJBY and PMSBY qualify for a deduction under Section 80C of the Income Tax Act. The claim payout is also tax-free under Section 10(10D) for PMJJBY.
