21 November 2022


Notifications & Circulars

30.06.2016

Insurance

PMJJBY incorporates exclusion to discourage abuse

MANU/RMIC/0106/2016

The Pradhan Mantri Jeevan Jyoti Bima Yojana will incorporate a lien clause, effective 1 June 2016, excluding claims for deaths occurring during the first 45 days of enrolment.

In effect, risk cover for those signing up to the scheme will commence only after completion of 45 days from the date of enrolment into the scheme. However, deaths due to accidents will be exempt from the lien clause.

Tags : pmjjby lien clause death exclusion period

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