A group term insurance plan

About the Plan: ABSLI Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a yearly renewable group protection plan offered to individual account holders of participating banks/ Post office. This is a pure group term insurance product which ensures financial security for the member's family in the event of unfortunate death of the member. The scheme will be administered by participating banks/ Post office and will be guided by the scheme rules as specified by the Government of India from time to time. ABSLI Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a non-linked, non-participating, one year renewal group term insurance plan wherein the participating bank/ Post office is the policyholder & the individual account holders of participating banks/ Post office are the members insured.