Pradhan Mantri Jeevan Jyoti Bima Yojana

Highlights of the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY – Scheme 2 – for Life Insurance) are:

Eligibility: ICICI Bank Savings Bank (SB) Account holders between 18 years (completed) and 50 years (age nearer birthday) who have given the consent to join the scheme / enable auto-debit, as per the modality, will be enrolled into the scheme.
Policy period: The cover shall be for one year starting from June 1 to May 31 of next year. For the Savings Account holder joining on or after June 1, the cover shall commence from the date of premium debit and end on May 31 of next year.
Premium: Rs. 330 (per annum).
Payment Mode: The premium will be directly auto-debited by the Bank from the subscribers’ Saving Account held with the Bank. This is the only mode available currently. For renewal of the policy, it will be auto debited between May 25 and May 31, unless the customer has given the cancellation request to the Bank for the policy.
Risk Coverage: Sum Assured of Rs. 2 Lakh on death of the Insured member for any reason is payable to the Nominee.

Termination of assurance:

Account holder attains age of 55 years
Closure of account with the Bank or insufficiency of balance for debiting premium.
In case of multiple coverage under the scheme, the cover will be restricted to Rs.2 lakhs and other insurance covers are terminated and premium shall be forfeited.

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Terms and conditions:

If a customer is having multiple Savings Account with the Bank, then only one PMJJBY policy will be issued. In case multiple policies are found to exist, the premium(s) of such multiple policies shall be refunded to the customer’s respective account and no claims would be paid for such additional policy requests.
For all enrollments from June 1, 2016, the risk cover will commence only after completion of 45 days from the scheme enrollment date by the customer. Death due to accident will be exempted from the 45 days cooling period.
Customer will have to pay full annual premium even if he/she join the Scheme after the commencement of the Group Policy.
Policy shall not be issued if mobile number is not updated in Savings Bank Account. The Bank shall provide no separate intimation for the same.
The customer response received through their registered mobile number shall be considered as their consent for auto-debit from their savings bank account.
The personal details, as required, regarding admission into the Pradhan Mantri Jeevan Jyoti Bima Yojana will be shared with ICICI Prudential Life Insurance Company Ltd., under Group Policy Number 00002273 certifying coverage as per the Scheme, subject to correctness of information provided regarding eligibility and receipt of consideration amount.
Any information provided by customer if found to be untrue, the membership to the scheme shall be treated as cancelled from the date of joining the scheme and all premium paid in respect thereof shall stand forfeited.
Renewal Premium of Rs. 330 (including GST) will be auto debited from the savings account between May 25 and May 31 of every year. Customers who desire to cancel the auto renewal need to submit such request before April 30 of the year. Renewal premium will be debited until the eligible age of the insured as per the scheme norms.
Joint account holders can enrol for the PMJJBY scheme by submitting a separate request for enrolment at the ICICI Bank Branch only.

Pradhan Mantri Suraksha Bima Yojana

Highlights of the Pradhan Mantri Suraksha Bima Yojana (PMSBY – Scheme 1 – for Accidental Death Insurance) are:

Eligibility: ICICI Bank Savings Bank (SB) Account holders between 18 years (completed) and 70 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the modality, will be enrolled into the scheme.
Policy period: The cover shall be for one year starting from June 1 to May 31 of next year. For the Saving Account holder joining on or after June 1, the cover shall commence from the date of premium debit and end on May 31 of next year.
Premium: Rs. 12 per annum.
Payment Mode: The premium will be directly auto-debited by the Bank from the subscribers savings account held with the Bank. This is the only mode available. For renewal of the policy, it will be auto debited between May 25 and May 31, unless the customer has given a cancellation request to the Bank for the policy.
Risk Coverage: Total coverage (sum-insured) under the scheme is Rs. 2 Lakh.

	Table of Benefits*	Sum Insured
I.	Death	Rs. 2 Lakh
II.	Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of one hand or one foot	Rs. 2 Lakh
III.	Total and irrecoverable loss of sight of one eye or loss of use of one hand or one foot	Rs. 1 Lakh
*The total amount that can be claimed under the policy is INR 2 lakh only

The cover is subject to exclusions of the policy.

Exclusions:

Major Exclusions: Intentional self injury, suicide or attempted suicide whilst under the influence of intoxication liqour or drugs, Any loss arising from an act made in breach of law with or without criminal intent.” For more details, please refer the Master Policy wordings.