English हिन्दी
Connect with us

Featured

Benefits & Features of the Pradhan Mantri Jeevan Jyoti Bima Yojana

Published

on

Pradhan Mantri Jeevan Jyoti Bima Yojana

The PM Jeevan Jyoti Bima Yojana (PMJJBY), introduced in 2015 is a 1-year life insurance program funded by the Central Government. The plan can be renewed after the first year and offers financial protection to the policyholder and their family. Insurance companies run the program in the public and private sectors in collaboration with established commercial banks, rural and regional banks, and cooperative banks. However, the participating banks hold the scheme’s master policy.

What is PM Jeevan Jyoti Bima Yojana?

The PMJJBY policy was created and launched to ensure that the policyholder’s family is financially protected in case the policyholder passes away. It aims to give the underprivileged and low-income groups financial security. With the minimum requirement of an open savings account, anyone in the age bracket of 18 and 50 years can purchase this life insurance policy.

The policy beneficiaries will receive a death benefit of Rs. 2 lakh upon the policyholder’s death. 

Here’s all you need to understand and know about the PMJJBY in detail.

Eligibility Criteria  

Following is the eligibility criteria to apply to PMJJBY:

  1. You must be an Indian citizen
  2. You must be 18 to 50 years of age
  3. You need a bank account:
  4. Even if you have more than one savings bank account, you can subscribe to the scheme only with one.
  5. You must link your Aadhaar card to the participatory bank account
  6. You must pay a yearly premium of Rs. 330 for this plan

Features of the Pradhan Mantri Jeevan Jyoti Bima Yojana 

  1. Simple Renewal

The scheme offers life insurance protection for a period of 1 year. You can renew the policy on an annual basis after the 1 year period ends.

  1. Superior Insurance Protection

PMJJBY offers a life insurance policy worth Rs. 2 lakh with yearly premiums as low as Rs. 330.

  1. No advantages of maturity

The policy gives you protection only for the term of the policy. Note that you cannot redeem any maturity benefits with these plans.

  1. Waiting Period

The life insurance coverage begins 45 days after the date of enrollment. However, in the event of a fatal accident, the sum assured amount is paid out. 

Benefits of PMJJBY

This Government-sponsored insurance program comes with several advantages. 

The following are the PMJJBY benefits:

  1. Cost-effective premiums

The policy has an annual premium of Rs. 330, making it cost effective and affordable. 

  1. Insured amount

The insurance plan provides death benefits of up to Rs. 2 lakh upon the policyholder’s demise, regardless of the cause of death.

  1. Tax Benefit

Section 80C of the Income Tax Act of 1961 allows for tax deductions for contributions made to this plan. 

What is the Process to Claim the Benefits of PMJJBY?

The nominee or successor of the insured must go to the bank branch in which the insured has an account to claim PMJJBY. However, the insurance benefit will not be payable if the insured person passes away within 45 days of purchasing the policy for any reason other than an accident.

Steps to be taken by the nominee/beneficiary

Step 1

The beneficiary must go to the same branch where the insured’s savings account is connected to the program. The insured person’s death certificate must be provided to the bank by the beneficiary.

Step 2

The nominee must obtain the claim form from the insurance provider or the bank.

Step 3

After receiving the claim form, the beneficiary must fill it out and submit it along with pertinent paperwork, including a death certificate, a discharge receipt, the policyholder’s bank account information, a photocopy of a cancelled check, and a bank statement.

Steps taken by the bank

Step 1 

After the beneficiary has submitted the claim form and all necessary paperwork, the bank verifies the paperwork and forms.

Step 2

After verification, the bank submits the necessary documentation to the chosen insurance provider.

  • A receipt for discharge.
  • Correctly completed claim form.
  • Copied beneficiary’s cancelled check.
  • Certificate of Death.

Steps that the insurance company will take 

Step 1

The insurance company also verifies the files after receiving the relevant paperwork and claim form from the bank.

Step 2

Following the completion of the claim verification process, the claim amount is transferred to the nominee’s bank account.

Step 3

The insurance provider has 30 days from the time the claim is filed to approve and pay the claim.

Conclusion 

The PMJJBY is a government-initiated insurance plan with the lowest premium costs, making it advantageous for those with limited resources. As a comprehensive policy, the plan guarantees financial security for the insured’s family and offers a financial safety net so they can handle any emergency.

These three factors combine to make the plan a profitable investment choice.

• In an emergency, the plan provides the insured’s family financial security.

• The plan provides a simple switching and enrollment process.

• Also, with the lowest premium rate of Rs. 330 per year, anyone can easily obtain it.

PMJJBY is undoubtedly one of the most reliable and valuable plans for a low-income category to purchase, with all these features and advantages.

Continue Reading

Featured

Delhi Convention Centre: Why is The Zora Convention Centre built at Delhi’s Lodhi Road special?

It serves as an exquisite venue for weddings, festivals, corporate gatherings, and a variety of other events.

Published

on

The Zora, Delhi Convention Center, located near Jawaharlal Nehru Stadium in Delhi, was inaugurated in August 2024. This convention center is specifically designed to cater to global event needs.

Spanning over 2 lakh square feet, The Zora features impressive architectural elements, including 38-foot high ceilings and two pre-designed halls, crafted by the esteemed designer Walid Baz, founder of Baz Events. It serves as an exquisite venue for weddings, festivals, corporate gatherings, and a variety of other events.

In an exclusive interview with APN News, Jyoti Kalash, Chief Administrative Officer (CAO) and retired IAS officer stated, “The design of this event center is striking. Upon entering the main hall, guests will feel transported to another realm, as there is a glass floor beneath them that can easily support over 1,000 people.”

“The Zora stands out due to its nature-inspired design and outstanding craftsmanship, which was accomplished in just 80 days by an international team, establishing a new benchmark for luxury in India,” the former IAS officer emphasised.

Dhananjay Kumar, CEO of The Zora – Delhi Convention Center, also spoke with APN News, stating, “We are offering not just a venue, but a destination for unique, unforgettable experiences. This luxurious and stunning space was completed within an impressive timeframe of only 80 days.”

Know what is special in ‘The Zora’

  • Prime location on Lodhi Road, convenient location for all.
  • Parking facility for more than 2000 vehicles.
  • Designed by award-winning architectural designer Walid Baz, bringing world-class expertise to Delhi.
  • Completed within a time period of just 80 days.
  • Spread over 2 lakh sq ft with two pre-designed halls and spacious customisable areas.
  • The Zora’s design is inspired by nature, offering guests an ambiance of beauty and tranquility.
  • 750 tonnes of iron has been used for strength.
  • 700 intelligent lights have been used with over 20 modes to match the mood of the ceremony.
  • Another large dining area is separate from the Grand Ballroom.
  • The interiors look beautiful and are adorned with intricate handmade designs.

Continue Reading

Featured

IIMM Delhi claims 100% placement for PG Diploma in ADPR for 3 consecutive years

Published

on

The International Institute of Mass Communication (IIMM) Delhi continues to solidify its reputation as a premier institution for media and communication studies by achieving 100% placement for its Post Graduate Diploma in Advertising and Public Relations (PGD ADPR) course for the third consecutive year. This remarkable achievement underscores the institution’s commitment to academic excellence and its pivotal role in shaping future leaders of the media industry.

A Legacy of Excellence

Ms. Simrat Gulati, an IIMC Alumna and Advertising veteran, who heads this program at IIMM Delhi said, “ADPR is one of IIMM Delhi’s oldest and most prestigious programs. Established with the vision of providing comprehensive education and training in the fields of advertising and public relations, this course has evolved to meet the dynamic demands of the industry. The curriculum is meticulously designed to combine theoretical knowledge with practical skills, ensuring that students are well-prepared for the challenges of the professional world.”

Industry Recognition

Industry experts and media professionals also hold IIMM Delhi’s ADPR program in high regard. Vivek Satya Mitram, a renowned Brand Strategist and co-founder at Bharat Dialogues said, “I have interacted with IIMM Students in workshops & events, the rigorous training included in their ADPR course and exposure to real-world scenarios are indeed a benchmark in media education. We at Bharat Dialogues regularly hire interns from IIMM Delhi for their creativity, strategic thinking, and ability to adapt to the rapidly changing media landscape.”

Several key factors contribute to the consistent placement success of the ADPR program at IIMM Delhi added their Academic Director Pooja Priyamvada. “We at IIMM Delhi have fostered strong relationships with leading companies in the advertising and PR sectors. These partnerships provide students with ample internship opportunities, live projects, and exposure to industry practices. We are privileged to have a highly qualified and experienced line up of faculty members & Guest lecturers who bring a wealth of industry knowledge and academic expertise.”

The industry-readiness of any curriculum requires that it is regularly updated to reflect the latest trends and technologies in the media industry. This ensures that students are equipped with relevant skills and knowledge that make them highly employable. As per many ex-students that is what set them apart from the crowd in the highly competitive media industry. Through mock interviews, resume building workshops, and career counseling sessions, the placement cell ensures that students are well-prepared to enter the job market.

The 100% placement record over the past three years is a testament to IIMM Delhi’s unwavering commitment to excellence. As the media industry continues to evolve, the institute remains dedicated to providing exemplary education and training that empowers students to become leaders in their field.

Established in 1999, the International Institute of Mass Media (IIMM) Delhi is a premier institution dedicated to providing high-quality education in mass media and communication. With a focus on practical training, industry exposure, and academic excellence, IIMM Delhi offers a range of undergraduate, postgraduate, and diploma programs designed to prepare students for successful careers in media and communication.

For more information about IIMM Delhi and its programs, please visit www.iimmdelhi.com

Continue Reading

Featured

Nima Sulaiman joins HiLITE Group Board, her father gifts her a Porsche

Nima expressed her gratitude for the opportunity and her eagerness to contribute to the group’s success.

Published

on

By

In a move signalling a generational shift in leadership and a commitment to empowering women in the business world, Nima Sulaiman, the daughter of HiLITE Group Chairman P. Sulaiman, has been welcomed onto the board of directors with a stunning gesture—a Porsche worth Rs 3 crore.

At just 18, Nima began her journey with HiLITE Group as a customer service trainee at Hug a Mug Cafe. From there, she transitioned to management roles, showcasing her talent and dedication. With a B.Sc in Economics from the University of London in Singapore, Nima brings a unique blend of academic prowess and practical experience to her new position.

As the Director of HiLITE Urban, a subsidiary of HiLITE Group, Nima is poised to continue the company’s legacy of excellence in construction and development. With a focus on providing quality living spaces and international standards in India, HiLITE Group has been instrumental in transforming Kozhikode city with its innovative projects that include premium residential buildings, ultra modern business parks, state-of-the-art malls and world-class entertainment theaters.

Group Chairman P. Sulaiman expressed his sentiments regarding his daughter’s recent appointment within the Group. He said, “I am immensely proud of Nima’s accomplishments and firmly believe that she is capable to take on greater responsiblities. HiLITE Group has always shed light on the significance of acknowledging and empowering women in leadership positions.” He further emphasised, “The emotional intelligence that women bring to the table is pivotal for fostering effective leadership and establishing trust.”

Nima, in turn, expressed her gratitude for the opportunity and her eagerness to contribute to the group’s success. “Inspired by my experiences visiting renowned malls worldwide, I strive to enrich the atmosphere of HiLITE malls and other projects, infusing them with vibrancy and youthfulness,” she said.

The appointment of Nima Sulaiman to the board of directors represents a significant milestone for HiLITE Group and a testament to the company’s commitment to innovation and inclusivity in the business world. As Nima takes on her new role, she stands as a beacon of inspiration for young women entrepreneurs in South India and beyond.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com