Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a one-year life insurance scheme, renewable from year to year, offering coverage for death. The cover under PMJJBY is for death only and hence benefit will accrue only to the nominee. PMJJBY is a pure term insurance policy, which covers only mortality with no investment component. PMJJBY is available to people in the age group of 18 to 50 years (life cover up to age 55) having a savings bank account who give their consent to join. Risk coverage under this scheme is for Rs. 2 Lakh in case of death of the insured, due to any reason. The premium is Rs. 330 per annum which is to be auto-debited in one installment from the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the scheme. The scheme is being offered by Life Insurance Corporation and all other life insurers who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.
CVL has been appointed by the Life Insurance Council for maintaining a claim registry for PMJJBY scheme and processing the de-duping of claims registered with the insurance companies.
CVL undertakes the following activities:
Insurance companies willing to register with CVL for accessing de-dupe process, need to execute a tripartite agreement (CVL - Life Insurance Council - Insurance Company) and submit it to CVL along with a prescribed Master creation form. Once the agreement is executed, the user credentials are created by CVL and shared with the Insurance Company. Insurance companies registered with CVL are required to login on CVL portal https://www.claimregistry.com/Login with the credentials provided to them. The claims received by them are uploaded in the prescribed format. The duplicates, if any are identified by the system and shown to the user. The response files generated can be downloaded in excel format.
Insurance companies can contact the below mentioned officials for any kind of inquiries regarding registration process.
|Sl. No.||Insurance Company Name|
|1.||CANARA HSBC OBC LIFE INSURANCE CO LTD|
|2.||HDFC STANDARD LIFE|
|3.||INDIAFIRST LIFE INSURANCE CO LTD|
|4.||ICICI PRUDENTIAL LIFE INSURANCE COMPANY LTD|
|5.||LIFE INSURANCE CORPORATION OF INDIA|