Pradhan Mantri Jeevan Jyoti Bima Yojana is a government-backed one year Life insurance scheme available to people between 18 and 50 years of age with bank accounts. It has an annual premium of Rs. 330/- . The GST is exempted on Pradhan Mantri Jeevan Jyoti Bima Yojana. The amount will be automatically debited from the account. In case of death due to any cause, the payment to the nominee will be Rs 2 lakh.
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