News | Life Insurance

Rs 4,698.10 crore paid for death claims under PMJJBY last fiscal

MAS Team 03 July 2021
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The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) has settled more than two lakh death claims of around Rs 4,700 crore in the previous financial year, according to an RTI reply.
 
Neemuch district based RTI activist Chandrashekhar Gaur had filed the RTI regarding death claims to the Department of Financial Services. 
 
According to the reply, payment of Rs 4,698.10 crore was made against 2,34,905 death claims under the PMJJBY in the last fiscal. In the earlier years, death claims of Rs 3,563.78 crore in 1,78,189 cases were settled in 2019-20; Rs 2,704.24 crore in 1,35,212 cases in 2018-19.
 
As many as 2,50,351 death claims were filed under the PMJJBY in the previous fiscal, and of them, 13,100 were dismissed in 2020-21. The remaining 2,346 claims were being examined.
 
Under PMJJBY, a person with a bank account from 18 to 50 can get himself insured by paying an annual premium of Rs 330.
 

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