Standard Operating Procedure of PMJJBY
1. Any Postal Official (including GDS) can pursue either a depositor having Savings Account in any
EDBO/SO/HO migrated to CBS Platform or any Indian Citizen who is ready to open a Savings Account in
any such post office which is migrated to CBS, to fill Enrollment Form of Pradhan Mantri JeevanJyoti
Bima Yojna ( PMJJBY) to get Life Insurance cover of Rs.2 lakh from Life Insurance Corporation of India
(LIC) by paying an annual premium of Rs,330/- for one year (from 1st June or Date of Enrollment to 31st
May).
2. It has to be ensured that the Savings Account holder or Indian Citizen who wants to open new
savings account for this purpose has already completed 18 Years of Age but not yet completed 50 years
of Age (as per Date of Birth mentioned in any of the KYC Documents showing date of birth). If no such
document is available with the customer, a certificate of birth issued by Headmaster of the School or
Sarpanch Gram Panchyat or self declaration can be presented before the Postal Official who collects the
form to confirm age validation.
3. The Savings Account Holder or Indian Citizen who wants to open new savings account should be
pursued to maintain balance of Rs.380/- (if it is a normal savings Account), Rs.880/- (if it is Cheque
Savings Account) and Rs.330/- (if it is a Zero balance Account opened for any Government welfare
scheme like MGREGS/Old Age/Widow/Disability Pension etc.) within 7 days of giving the Enrollment
Form (if collected at other than CBS Post Office Counter) so that premium of Rs.330/- will be deducted
on the day of enrollment itself at CBS HO/SO.
4. Postal Official (including GDS) who collects Enrollment Form has to ensure that all fields with *
mark has been filled and if depositor is illiterate, a literate person has signed (with address) as a witness
on the form. He/she will fill the relevant fields mentioned in “ To be filled by the official who collects
form” part of the form and sign for the purpose of getting incentive.
5. When Enrollment Form is received at EDBO, GDS BPM will tally signatures available in SS Book
and Balance in the Account shown in BOSB Journal. If he/she is satisfied that signatures are tallied, the
depositor has already completed 18 Years of Age and not yet completed 50 Years of Age and balance in
the account is either equal or more than Rs.330/- or Rs.380/- or Rs. 580/- (based of type of savings
account), He/she will sign on the Form in the filed “ Signature of Postmaster with Seal” in the part “For
Office Use”. He/she will place BO Name Stamp on the Top of the Form and Date Stamp on the left side
of his signatures. He/she will prepare a list of forms collected daily in duplicate in the following format:-
(On the Top of the List)
Date
List Number (consecutive from 1/1)
Name of Scheme- PMJJBY
Name of BO
Name of Account Office
Name of HO
(In the List)
Sl.No.- Account Number- Name of GDS who collected Form
(At the end of list)
Total No. of Forms
6. One copy of list will be stitched with the bundle of Forms and sent to Account Office duly
entered into BO Journal and BO Daily Account.
7. When Enrollment Form sent by EDBO is received at CBSHO/SO, PA who is opening BO Bags will
hand over form bundles received from BOs to SPM/Special Cell at HO under receipt in BO Daily Account.
8. SPM/Special Cell at HO will hand over forms to Counter PA or PA designated to do data entry
into Finacle CBS Application.
9. Counter PA or Designated PA at SO/HO will also receive Enrollment Forms at Counter or from
other Postal Officials or from BOs. Before doing data entry into the Finacle menu CPMY,. PA will go to
IES menu and verify signatures on the Form (if depositor is literate) and tally signatures with signatures
in Finacle. If signatures are tallied, he will invoke Finacle menu CPMY and select scheme as PMJJBY and
enter Account Number in the relevant Field. He will click on submit and new screen will open showing
following fields auto-populated:-
CIF ID, SOL ID, Name of Depositor, date of Birth (default date if not yet corrected in CIF), Gender,
Nominee name (if available), Nominee relationship (if available), Address of Depositor, Address of
Nominee (if available), Account Type, Aadhar Number (if available), PAN Number (if available),
Applicant’s Age (based on DOB), Phone number (if available), E mail ID (if available).
10. If any of the mandatory fields is not auto-populated or date of birth is populated as 1.7.1960 or
Gender as Others , PA has to go to CMRC to modify the CIF. While modifying CIF, user has to modify date
of Birth as written on the Enrollment Form and correct the Gender as F or M. Any other information like
Mobile Number, E mail ID, Aadhar Number etc. if given in the form should also be entered in CIF and
Supervisor has to verify the CIF Modification in CMRC. Once this is done, PA will again go to the menu
CPMY and select scheme as PMJJBY and enter Account Number to get all these fields Auto-Populated.
11. If nomination is not registered in the Savings Account, this field will be blank. Nomination is
mandatory in PMJJBY. PA has to enter Nominee Name in the relevant field and select Relationship from
the drop down given against this field. Address of nominee also needs to be filled. PA should then click
on VALIDATE button and see if all the validations are correct. Once this is done, PA will click on SUBMIT
button and hand over form to Supervisor for verification. Supervisor will go to verify mode of CPMY and
enter Account ID to see information populated. He should tally the same with the Form. Once he/she is
satisfied, he will click on SUBMIT button. At this time Rs.330/- will be withdrawn (debited) from Savings
Account and Rs.289/- will be Credited to PMJJBY Premium Office Account of Sansad Marg HO
(11000100) and Rs.41/- will be credited to DOP Income Office Account of Sansad Marg HO.
12. At the end of the day, all these withdrawals will appear in the SB LOT and SB Consolidation of
respective SO/HO @ Rs.289/- per form as Premium and Rs.41/- as Income to DOP. On the receipt side,
Amount of @ 289/-will be shown as PMJJBY Premium Deposit and amount@Rs.41/- as PMJJBY Income
to DOP by each SO/HO(Head of Accounts will be circulated through Accounting procedure). In HO Cash
Book, this amount should be shown for HO as a whole. At the end of each month, progressive totals
under both these heads should be intimated to Divisional Head by HO.
13. In case of CBS SO, Designated PA will prepare a list of forms collected daily in duplicate in the
following format in MS Excel (for the purpose of calculation of Incentive):-
Date
List Number (consecutive from 1/1)
Name of Scheme- PMJJBY
Name of BO/SO
Name of HO
Sl.No.- Account Number- Name of Postal Official who collected Form
Total No. of Forms
14. One copy of list will be stitched with the bundle of Forms and sent to Head Office duly entered
into SO Daily Account. These Forms will be preserved in HPO SO-wise and date wise in A4 size Ring
Binders alongwith list which will be filed also in the same binder.
15. At CBS HO, all Forms presented at the HO Counter and received from SOs would be handed over
to designated PA(s) who will enter these forms in MS Excel (for the purpose of calculation of incentive)
in the following format:-
Headers
Date-
Scheme:-PMJJBY
Data to be entered:-
Sl.No., Name of BO (under HO)- List No. of BO (ie.1/1 etc.), Name of SO(Under HO)-List No. of SO,
Account Number, Name/Designation/Office of Posting of Postal Employee including GDS who
collected Form.
(After entering forms received from BOs (under HO) and SOs(Under HO), enter forms collected at
HO by other Postal Officials or at counter)
Sl.No., Account Number, Name/Designation of Official who collected Form.
At the end:- Total No. of Forms
16. Special Monitoring Cell at each CBS HO at the end of each month will prepare incentive bill of
PMJJBY showing date wise no. of forms collected by each Postal Official (including GDS) and amount of
incentive against each official or set of officials before 5th of each month. Format of Incentive Bill is given
Below:-
Month
Name of Postal Official (including GDS)
No. of Forms collected/Handled in the month
Amount of incentive
Total Number of Forms collected in the month
Amount of incentive of HO Monitoring Cell
This incentive bill will be sent to Divisional Head who will issue sanction against the amount credited
into PMJJBY Income to DOP Head of Account (will be circulated in Accounting Procedure) against
information sent by each HO and will send it back to HO before 10th of the month. Divisional Office will
send monthly statistics to its RO/HO on 10th of the each month alongwith its Incentive Bill to RO/CO. RO
will maintain monthly statistics of the Divisions under it and issue sanction of incentive bill of DO from
same head of account. RO will send its monthly data to CO by 15th of the month which will issue sanction
of incentive Bill of RO from same head of account. CO will maintain data of Forms collected by all the
Regions and issue sanction of Incentive for its own staff from same head of account. CO will send
monthly statistics of Forms collected to F.S Division of Directorate and DAP.
17. On receipt of Sanction from Divisional Head, Accounts Branch of HPO will prepare Incentive
Payment Bills for the staff and send to SOs and BOs under it. SOs, on receipt of Bills will send the same
to their BOs. BOs, SOs and Hos will charge these bills (after payment) in the PMJJBY Income to DOP
head. (Accounting Head will be circulated in Accounting procedure).
18. F.S Division of Directorate would maintain statistics of Forms Collected by all the Circles and
raise its incentive bill to Delhi Circle which will issue sanction from the relevant head.
19. DAP will issue sanction of Incentive Bill for its own staff engaged for this activity and book the
amount under relevant PMJJBY Income head.
20. DDG(PAF) Directorate will maintain monthly statistics of Forms collected, Amount of Premium
Collected, Amount of Premium sent to LIC, Amount collected/spent on Administrative expenses and
Amount of Incentive collected/paid. PA wing will issue sanction of its own incentive bill from relevant
head of account.
Standard Operating Procedure to be followed at Sansad Marg HPO (Delhi Circle)
1. On daily basis, Designated System Administrator would go to menu CUUTR, select relevant
scheme and enter BOD date. He will get the total amount collected all over India for sending to LIC on
the screen. He will pass on the information to DPM/APM Treasurery who will issue orders for remitting
the amount to LIC Bank Account (will be intimated shortly) through RTGS from Postmaster Bank
Account. Designated PA will go to SBI and present RTGS Request. On getting UTR Number, designated
PA will inform this number to Designated System Administrator who will again invoke CUUTR menu in
Finacle and select Update UTR option. He will then enter the UTR Number and Amount of UTR in the
relevant fields. He will enter same BOD Date as enrollment date and click.
2. Designated SA will then send mail to CEPT Team for running the batch to extract data from
Finacle. Batch file will then be uploaded to LIC through mail/SFTP.
3. Designated SA will get response file from LIC and look into the rejected data and passed on the
relevant information to respective Hos through an e-mail. Respective HO would get the data corrected
from its staff of respective HO or get corrections done from Infosys through raising a ticket. Infosys will
extract revised file from the backend and send to Sansad Marg HO SA through mail. Sansad Marg HO SA
will upload the modified file to LIC.
4. In Sansad Marg HO, Amount Transferred to LIC would be accounted for as Premium Collected
for LIC on receipt side and Premium Transferred to LIC on Payment side.
RULES:-
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RULES FOR PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA
DETAILS OF THE SCHEME:
The scheme will be a one year cover, renewable from year to year, Insurance Scheme offering life insurance cover for death due to any reason. The scheme would be offered / administered through LIC and other Life Insurance companies willing to offer the product on similar terms with necessary approvals and tie ups with Banks for this purpose. Participating banks will be free to engage any such life insurance company for implementing the scheme for their subscribers.
Scope of coverage: All savings bank account holders in the age 18 to 50 years in participating banks will be entitled to join. In case of multiple saving bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one savings bank account only. Aadhar would be the primary KYC for the bank account.
Enrolment period: Initially on launch for the cover period 1st June 2015 to 31st May 2016, subscribers will be required to enroll and give their auto-debit consent by 31st May 2015. Late enrollment for prospective cover will be possible up to 31st August 2015, which may be extended by Govt. of India for another three months, i.e. up to 30th of November, 2015. Those joining subsequently may be able to do so with payment of full annual premium for prospective cover, with submission of a self-certificate of good health in the prescribed proforma.
Enrolment Modality: The cover shall be for the one year period stretching from 1st June to 31st May for which option to join / pay by auto-debit from the designated savings bank account on the prescribed forms will be required to be given by 31st May of every year, with the exception as above for the initial year. Delayed enrollment with payment of full annual premium for prospective cover may be possible with submission of a self-certificate of good health.
Individuals who exit the scheme at any point may re-join the scheme in future years by submitting a declaration of good health in the prescribed proforma.
In future years, new entrants into the eligible category or currently eligible individuals who did not join earlier or discontinued their subscription shall be able to join while the scheme is continuing, subject to submission of self-certificate of good health.
Benefits: Rs.2 lakhs is payable on member’s death due to any reason
Premium: Rs.330/- per annum per member. The premium will be deducted from the account holder’s savings bank account through ‘auto debit’ facility in one installment, as per the option given, on or before 31st May of each annual coverage period under the scheme. Delayed enrollment for prospective cover after 31st May will be possible with full payment of annual premium and submission of a self-certificate of good health. The premium would be reviewed based on annual claims experience. However, barring unforeseen adverse outcomes of extreme nature, efforts would be made to ensure that there is no upward revision of premium in the first three years.
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Eligibility Conditions:
a) The savings bank account holders of the participating banks aged between 18 years (completed) and 50 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the above modality, will be enrolled into the scheme.
b) Individuals who join after the initial enrollment period extending up to 31st August 2015 or 30th November 2015, as the case may be, will be required to give a self-certification of good health and that he / she does not suffer from any of the critical illnesses as mentioned in the applicable Consent cum Declaration form as on date of enrollment or earlier.
Master Policy Holder: Participating Banks will be the Master policy holders. A simple and subscriber friendly administration & claim settlement process shall be finalized by LIC / other insurance company in consultation with the participating bank.
Termination of assurance: The assurance on the life of the member shall terminate on any of the following events and no benefit will become payable there under:
1) On attaining age 55 years (age near birth day) subject to annual renewal up to that date (entry, however, will not be possible beyond the age of 50 years).
2) Closure of account with the Bank or insufficiency of balance to keep the insurance in force.
3) In case a member is covered under PMJJBY with LIC of India / other company through more than one account and premium is received by LIC / other company inadvertently, insurance cover will be restricted to Rs. 2 Lakh and the premium shall be liable to be forfeited.
4) If the insurance cover is ceased due to any technical reasons such as insufficient balance on due date or due to any administrative issues, the same can be reinstated on receipt of full annual premium and a satisfactory statement of good health.
5) Participating Banks shall remit the premium to insurance companies in case of regular enrolment on or before 30th of June every year and in other cases in the same month when received.
Administration:
The scheme, subject to the above, will be administered by the LIC P&GS Units / other insurance company setups. The data flow process and data proforma will be informed separately.
It will be the responsibility of the participating bank to recover the appropriate annual premium in one installment, as per the option, from the account holders on or before the due date through ‘auto-debit’ process.
Members may also give one-time mandate for auto-debit every year till the scheme is in force.
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Enrollment form / Auto-debit authorization / Consent cum Declaration form in the prescribed proforma shall be obtained and retained by the participating bank. In case of claim, LIC / insurance company may seek submission of the same. LIC / Insurance Company reserves the right to call for these documents at any point of time.
The acknowledgement slip may be made into an acknowledgement slip-cum-certificate of insurance.
The experience of the scheme will be monitored on yearly basis for re-calibration etc., as may be necessary.
Appropriation of Premium:
1) Insurance Premium to LIC / insurance company : Rs.289/- per annum per member
2) Reimbursement of Expenses to BC/Micro/Corporate/Agent : Rs.30/- per annum per member
3) Reimbursement of Administrative expenses to participating Bank: Rs.11/- per annum per member
The proposed date of commencement of the scheme will be 1st June 2015.The next Annual renewal date shall be each successive 1st of June in subsequent years.
The scheme is liable to be discontinued prior to commencement of a new future renewal date if circumstances so require.
FAQ: -
FAQs on PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA
Q1. What is the nature of the scheme?
The scheme will be a one year cover Term Life Insurance Scheme, renewable from
year to year, offering life insurance cover for death due to any reason.
Q2. What would be the benefits under the scheme and premium payable?
Rs.2 lakhs is payable on a subscriber’s death due to any reason. The premium payable
is Rs.330/- per annum per subscriber.
Q3. How will the premium be paid?
The premium will be deducted from the account holder’s savings bank account through
‘auto debit’ facility in one installment, as per the option to be given on enrolment.
Members may also give one-time mandate for auto-debit every year till the scheme is in
force, subject to re-calibration that may be deemed necessary on review of experience
of the scheme from year to year.
Q4. Who will offer / administer the scheme?
The scheme would be offered / administered through LIC and other Life Insurance
companies willing to offer the product with necessary approvals on similar terms, in
collaboration with participating Banks. Participating banks will be free to engage any
such life insurance company for implementing the scheme for their subscribers.
Q5. Who will be eligible to subscribe?
All savings bank account holders in the age 18 to 50 years in participating banks will be
entitled to join. In case of multiple saving bank accounts held by an individual in one or
different banks, the person would be eligible to join the scheme through one savings
bank account only.
Q6. What is the enrolment period and modality?
Initially on launch for the cover period from 1st June 2015 to 31st May 2016 subscribers
are expected to enroll and give their auto-debit option by 31st May 2015, extendable up
to 31st August 2015. Enrolment subsequent to this date will be possible prospectively on
payment of full annual payment and submission of a self-certificate of good health.
Subscribers who wish to continue beyond the first year will be expected to give their
consent for auto-debit before each successive May 31st for successive years. Delayed
renewal subsequent to this date will be possible on payment of full annual premium and
submission of a self-certificate of good health.
Q7. Can eligible individuals who fail to join the scheme in the initial year join in
subsequent years?
Yes, on payment of premium through auto-debit and submission of a self-certificate of
good health. New eligible entrants in future years can also join accordingly.
Q8. Can individuals who leave the scheme rejoin?
Individuals who exit the scheme at any point may re-join the scheme in future years by
paying the annual premium and submitting a self declaration of good health.
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Q9. Who would be the Master policy holder for the scheme?
Participating Banks will be the Master policy holders. A simple and subscriber friendly
administration & claim settlement process shall be finalized by LIC / chosen insurance
company in consultation with the participating bank.
Q10. When can the assurance on life of the member terminate?
The assurance on the life of the member shall terminate / be restricted accordingly on
any of the following events:
i. On attaining age 55 years (age near birth day), subject to annual renewal up to
that date (entry, however, will not be possible beyond the age of 50 years).
ii. Closure of account with the Bank or insufficiency of balance to keep the
insurance in force.
iii. In case a member is covered through more than one account and premium is
received by LIC / insurance company inadvertently, insurance cover will be
restricted to Rs. 2 Lakh and the premium shall be liable to be forfeited.
Q11. What will be the role of the insurance company and the Bank?
i. The scheme will be administered by LIC or any other Life Insurance company
which is willing to offer such a product in partnership with a bank / banks.
ii. It will be the responsibility of the participating bank to recover the appropriate
annual premium in one installment, as per the option, from the account holders
on or before the due date through ‘auto-debit’ process and transfer the amount
due to the insurance company.
iii. Enrollment form / Auto-debit authorization / Consent cum Declaration form in the
prescribed proforma, as required, shall be obtained and retained by the
participating bank. In case of claim, LIC / insurance company may seek
submission of the same. LIC / Insurance Company also reserve the right to call
for these documents at any point of time.
Q12. How would the premium be appropriated?
a. Insurance Premium to LIC /other insurance company: Rs.289/- per annum
per member;
b. Reimbursement of Expenses to BC/Micro/Corporate/Agent : Rs.30/- per
annum per member;
c. Reimbursement of Administrative expenses to participating Bank: Rs.11/- per
annum per member.
Q13. Will this cover be in addition to cover under any other insurance scheme the
subscriber may be covered under?
Yes.
****************
FORM: -
CONSENT-CUM-DECLARATION FORM
To be filled in by members joining the scheme during the permitted “Enrolment Period”)
I hereby give my consent to become a member of „ Pradhan MantriJeevan Jyoti Bima Yojana‟ of LIC of India which will be administered by thePost office
as Master Policyholder No 900100940.
I hereby authorize you to debit today my Post office Savings Account with your Post office with Rs.330/- (Rupees three hundred thiry only) plus Service
Tax,if applicable towards premium of life cover under PMJJBY. I further authroize you to deduct in future after 25th May and not later than on 1st of June
every year until further instructions, an amount of Rs 330/- (Rupees three hundred thirty only) and Service Tax if applicable, or any amount as decided
from time to time, which may be intimated immediately if and when revised, towards renewal of coverage under the Scheme.
I have not authorized any other Post office or Bank to debit premium in respect of this scheme. I am aware that my life cover shall be restricted to Rs
2,00,000/- only in the event of my death.
I have read and understood the Scheme rules and I hereby give my consent to become a member of the scheme.
I authorize the Post office to convey my personal details, given below, as required, regarding my admission into the group insurance scheme to LIC of
India.
Applicant Details, as per Post office / KYC records:
*Name of the Account holder (as per Post office records)
*Post office Savings Account
No. and CIF ID
*A/C No.-
*CIF ID-
(For Joint Account)
Aadhar Number, if
available
*SOL ID (Post Office) Mobile Number
E-mail ID *Name of Nominee
*Relationship of Nominee with
sunscriber
*Name of Guardian if
Nominee is minor.
*Address of Nominee/Guardian
Locality/Village/City/Dist./State
*Date of Birth of
Subscriber
*Full Address of Subscriber
Locality/Village/City/Dist./State
*Mandatory Fields
I hereby nominate my nominee as above under this scheme.
Nominee being minor, his/her guardian is appointed as above.
I hereby declare that the above statements are true in all respects and that I agree and declare that the above information shall form the basis of
admission to the above Scheme and that if any information be found untrue, my membership to the Scheme, shall be treated as cancelled.
Date:_______________
Signature& Address of Witness Signature/Thumb Impression* of Subscriber
(If Subscriber is illiterate) (* LTI in case of male and RTI in case of female)
(FOR OFFICE USE)
Form is checked, Signatures verified with Office Record/Wittness Accepted.
Signature of Postmaster with Seal
(To Be Filled by the Official who collected Form)
Name_________________________________ Designation_____________________________Office of Posting_______________________
Mobile No.________________________Name of HPO from which Pay is Drawn______________________________________________
Signature of the Official with Date______________________________________________________________________________________
__________________________________________________________________________________________________
ACKNOWLEDGEMENT SLIP CUM CERTIFICATE OF INSURANCE (to be cut and given to subscriber)
We hereby acknowledge receipt of “Consent-cum-DeclarationForm” from Shri / Smt. _______________________________holding Post
office Savings Account No.______________________________, Aadhar No. (if available) ___________________________, consenting and
authorizing auto-debit from the specified Post officeSavings Account to join the Pradhan Mantri Jeevan Jyoti BimaYojana with LIC of India for
cover under Master Policy No.900100940, subject to correctness of information provided regarding eligibility and receipt of consideration
amount. Insurance cover will start from the date on which premium will be reeceived by LIC.
Signature of Postmaster with Seal.
INCENTIVES: -
COLLECTION OF FORMS FROM POSB CUSTOMERS
Incentive structure (per form collected) for PMJJBY
PMJJBY :-
GDS/Postman/Counter PA- Rs.20.00
GDS BPM:- Rs.1.00 (additional work as BPM)
Counter PA (additional work in Finacle)- Rs.3.00
Counter Supervisor/SPM (For verification)- Rs.1.50
HO Special Monitoring Cell Officials- Rs.1.50
Accounts branch of HO:- Rs.0.75
Divisional Office Monitoring Cell:- Rs.0.75
Ro/Co Monitoring Cell:- Rs.0.50
Directorate Monitoring Cell.:- Rs.0.50
DAP Monitoring Cell:- Rs.0.25
Directorate Monitoring Cell (PAF)- Rs.0.25
source://https://www.indiapost.gov.in
1. Any Postal Official (including GDS) can pursue either a depositor having Savings Account in any
EDBO/SO/HO migrated to CBS Platform or any Indian Citizen who is ready to open a Savings Account in
any such post office which is migrated to CBS, to fill Enrollment Form of Pradhan Mantri JeevanJyoti
Bima Yojna ( PMJJBY) to get Life Insurance cover of Rs.2 lakh from Life Insurance Corporation of India
(LIC) by paying an annual premium of Rs,330/- for one year (from 1st June or Date of Enrollment to 31st
May).
2. It has to be ensured that the Savings Account holder or Indian Citizen who wants to open new
savings account for this purpose has already completed 18 Years of Age but not yet completed 50 years
of Age (as per Date of Birth mentioned in any of the KYC Documents showing date of birth). If no such
document is available with the customer, a certificate of birth issued by Headmaster of the School or
Sarpanch Gram Panchyat or self declaration can be presented before the Postal Official who collects the
form to confirm age validation.
3. The Savings Account Holder or Indian Citizen who wants to open new savings account should be
pursued to maintain balance of Rs.380/- (if it is a normal savings Account), Rs.880/- (if it is Cheque
Savings Account) and Rs.330/- (if it is a Zero balance Account opened for any Government welfare
scheme like MGREGS/Old Age/Widow/Disability Pension etc.) within 7 days of giving the Enrollment
Form (if collected at other than CBS Post Office Counter) so that premium of Rs.330/- will be deducted
on the day of enrollment itself at CBS HO/SO.
4. Postal Official (including GDS) who collects Enrollment Form has to ensure that all fields with *
mark has been filled and if depositor is illiterate, a literate person has signed (with address) as a witness
on the form. He/she will fill the relevant fields mentioned in “ To be filled by the official who collects
form” part of the form and sign for the purpose of getting incentive.
5. When Enrollment Form is received at EDBO, GDS BPM will tally signatures available in SS Book
and Balance in the Account shown in BOSB Journal. If he/she is satisfied that signatures are tallied, the
depositor has already completed 18 Years of Age and not yet completed 50 Years of Age and balance in
the account is either equal or more than Rs.330/- or Rs.380/- or Rs. 580/- (based of type of savings
account), He/she will sign on the Form in the filed “ Signature of Postmaster with Seal” in the part “For
Office Use”. He/she will place BO Name Stamp on the Top of the Form and Date Stamp on the left side
of his signatures. He/she will prepare a list of forms collected daily in duplicate in the following format:-
(On the Top of the List)
Date
List Number (consecutive from 1/1)
Name of Scheme- PMJJBY
Name of BO
Name of Account Office
Name of HO
(In the List)
Sl.No.- Account Number- Name of GDS who collected Form
(At the end of list)
Total No. of Forms
6. One copy of list will be stitched with the bundle of Forms and sent to Account Office duly
entered into BO Journal and BO Daily Account.
7. When Enrollment Form sent by EDBO is received at CBSHO/SO, PA who is opening BO Bags will
hand over form bundles received from BOs to SPM/Special Cell at HO under receipt in BO Daily Account.
8. SPM/Special Cell at HO will hand over forms to Counter PA or PA designated to do data entry
into Finacle CBS Application.
9. Counter PA or Designated PA at SO/HO will also receive Enrollment Forms at Counter or from
other Postal Officials or from BOs. Before doing data entry into the Finacle menu CPMY,. PA will go to
IES menu and verify signatures on the Form (if depositor is literate) and tally signatures with signatures
in Finacle. If signatures are tallied, he will invoke Finacle menu CPMY and select scheme as PMJJBY and
enter Account Number in the relevant Field. He will click on submit and new screen will open showing
following fields auto-populated:-
CIF ID, SOL ID, Name of Depositor, date of Birth (default date if not yet corrected in CIF), Gender,
Nominee name (if available), Nominee relationship (if available), Address of Depositor, Address of
Nominee (if available), Account Type, Aadhar Number (if available), PAN Number (if available),
Applicant’s Age (based on DOB), Phone number (if available), E mail ID (if available).
10. If any of the mandatory fields is not auto-populated or date of birth is populated as 1.7.1960 or
Gender as Others , PA has to go to CMRC to modify the CIF. While modifying CIF, user has to modify date
of Birth as written on the Enrollment Form and correct the Gender as F or M. Any other information like
Mobile Number, E mail ID, Aadhar Number etc. if given in the form should also be entered in CIF and
Supervisor has to verify the CIF Modification in CMRC. Once this is done, PA will again go to the menu
CPMY and select scheme as PMJJBY and enter Account Number to get all these fields Auto-Populated.
11. If nomination is not registered in the Savings Account, this field will be blank. Nomination is
mandatory in PMJJBY. PA has to enter Nominee Name in the relevant field and select Relationship from
the drop down given against this field. Address of nominee also needs to be filled. PA should then click
on VALIDATE button and see if all the validations are correct. Once this is done, PA will click on SUBMIT
button and hand over form to Supervisor for verification. Supervisor will go to verify mode of CPMY and
enter Account ID to see information populated. He should tally the same with the Form. Once he/she is
satisfied, he will click on SUBMIT button. At this time Rs.330/- will be withdrawn (debited) from Savings
Account and Rs.289/- will be Credited to PMJJBY Premium Office Account of Sansad Marg HO
(11000100) and Rs.41/- will be credited to DOP Income Office Account of Sansad Marg HO.
12. At the end of the day, all these withdrawals will appear in the SB LOT and SB Consolidation of
respective SO/HO @ Rs.289/- per form as Premium and Rs.41/- as Income to DOP. On the receipt side,
Amount of @ 289/-will be shown as PMJJBY Premium Deposit and amount@Rs.41/- as PMJJBY Income
to DOP by each SO/HO(Head of Accounts will be circulated through Accounting procedure). In HO Cash
Book, this amount should be shown for HO as a whole. At the end of each month, progressive totals
under both these heads should be intimated to Divisional Head by HO.
13. In case of CBS SO, Designated PA will prepare a list of forms collected daily in duplicate in the
following format in MS Excel (for the purpose of calculation of Incentive):-
Date
List Number (consecutive from 1/1)
Name of Scheme- PMJJBY
Name of BO/SO
Name of HO
Sl.No.- Account Number- Name of Postal Official who collected Form
Total No. of Forms
14. One copy of list will be stitched with the bundle of Forms and sent to Head Office duly entered
into SO Daily Account. These Forms will be preserved in HPO SO-wise and date wise in A4 size Ring
Binders alongwith list which will be filed also in the same binder.
15. At CBS HO, all Forms presented at the HO Counter and received from SOs would be handed over
to designated PA(s) who will enter these forms in MS Excel (for the purpose of calculation of incentive)
in the following format:-
Headers
Date-
Scheme:-PMJJBY
Data to be entered:-
Sl.No., Name of BO (under HO)- List No. of BO (ie.1/1 etc.), Name of SO(Under HO)-List No. of SO,
Account Number, Name/Designation/Office of Posting of Postal Employee including GDS who
collected Form.
(After entering forms received from BOs (under HO) and SOs(Under HO), enter forms collected at
HO by other Postal Officials or at counter)
Sl.No., Account Number, Name/Designation of Official who collected Form.
At the end:- Total No. of Forms
16. Special Monitoring Cell at each CBS HO at the end of each month will prepare incentive bill of
PMJJBY showing date wise no. of forms collected by each Postal Official (including GDS) and amount of
incentive against each official or set of officials before 5th of each month. Format of Incentive Bill is given
Below:-
Month
Name of Postal Official (including GDS)
No. of Forms collected/Handled in the month
Amount of incentive
Total Number of Forms collected in the month
Amount of incentive of HO Monitoring Cell
This incentive bill will be sent to Divisional Head who will issue sanction against the amount credited
into PMJJBY Income to DOP Head of Account (will be circulated in Accounting Procedure) against
information sent by each HO and will send it back to HO before 10th of the month. Divisional Office will
send monthly statistics to its RO/HO on 10th of the each month alongwith its Incentive Bill to RO/CO. RO
will maintain monthly statistics of the Divisions under it and issue sanction of incentive bill of DO from
same head of account. RO will send its monthly data to CO by 15th of the month which will issue sanction
of incentive Bill of RO from same head of account. CO will maintain data of Forms collected by all the
Regions and issue sanction of Incentive for its own staff from same head of account. CO will send
monthly statistics of Forms collected to F.S Division of Directorate and DAP.
17. On receipt of Sanction from Divisional Head, Accounts Branch of HPO will prepare Incentive
Payment Bills for the staff and send to SOs and BOs under it. SOs, on receipt of Bills will send the same
to their BOs. BOs, SOs and Hos will charge these bills (after payment) in the PMJJBY Income to DOP
head. (Accounting Head will be circulated in Accounting procedure).
18. F.S Division of Directorate would maintain statistics of Forms Collected by all the Circles and
raise its incentive bill to Delhi Circle which will issue sanction from the relevant head.
19. DAP will issue sanction of Incentive Bill for its own staff engaged for this activity and book the
amount under relevant PMJJBY Income head.
20. DDG(PAF) Directorate will maintain monthly statistics of Forms collected, Amount of Premium
Collected, Amount of Premium sent to LIC, Amount collected/spent on Administrative expenses and
Amount of Incentive collected/paid. PA wing will issue sanction of its own incentive bill from relevant
head of account.
Standard Operating Procedure to be followed at Sansad Marg HPO (Delhi Circle)
1. On daily basis, Designated System Administrator would go to menu CUUTR, select relevant
scheme and enter BOD date. He will get the total amount collected all over India for sending to LIC on
the screen. He will pass on the information to DPM/APM Treasurery who will issue orders for remitting
the amount to LIC Bank Account (will be intimated shortly) through RTGS from Postmaster Bank
Account. Designated PA will go to SBI and present RTGS Request. On getting UTR Number, designated
PA will inform this number to Designated System Administrator who will again invoke CUUTR menu in
Finacle and select Update UTR option. He will then enter the UTR Number and Amount of UTR in the
relevant fields. He will enter same BOD Date as enrollment date and click.
2. Designated SA will then send mail to CEPT Team for running the batch to extract data from
Finacle. Batch file will then be uploaded to LIC through mail/SFTP.
3. Designated SA will get response file from LIC and look into the rejected data and passed on the
relevant information to respective Hos through an e-mail. Respective HO would get the data corrected
from its staff of respective HO or get corrections done from Infosys through raising a ticket. Infosys will
extract revised file from the backend and send to Sansad Marg HO SA through mail. Sansad Marg HO SA
will upload the modified file to LIC.
4. In Sansad Marg HO, Amount Transferred to LIC would be accounted for as Premium Collected
for LIC on receipt side and Premium Transferred to LIC on Payment side.
RULES:-
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RULES FOR PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA
DETAILS OF THE SCHEME:
The scheme will be a one year cover, renewable from year to year, Insurance Scheme offering life insurance cover for death due to any reason. The scheme would be offered / administered through LIC and other Life Insurance companies willing to offer the product on similar terms with necessary approvals and tie ups with Banks for this purpose. Participating banks will be free to engage any such life insurance company for implementing the scheme for their subscribers.
Scope of coverage: All savings bank account holders in the age 18 to 50 years in participating banks will be entitled to join. In case of multiple saving bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one savings bank account only. Aadhar would be the primary KYC for the bank account.
Enrolment period: Initially on launch for the cover period 1st June 2015 to 31st May 2016, subscribers will be required to enroll and give their auto-debit consent by 31st May 2015. Late enrollment for prospective cover will be possible up to 31st August 2015, which may be extended by Govt. of India for another three months, i.e. up to 30th of November, 2015. Those joining subsequently may be able to do so with payment of full annual premium for prospective cover, with submission of a self-certificate of good health in the prescribed proforma.
Enrolment Modality: The cover shall be for the one year period stretching from 1st June to 31st May for which option to join / pay by auto-debit from the designated savings bank account on the prescribed forms will be required to be given by 31st May of every year, with the exception as above for the initial year. Delayed enrollment with payment of full annual premium for prospective cover may be possible with submission of a self-certificate of good health.
Individuals who exit the scheme at any point may re-join the scheme in future years by submitting a declaration of good health in the prescribed proforma.
In future years, new entrants into the eligible category or currently eligible individuals who did not join earlier or discontinued their subscription shall be able to join while the scheme is continuing, subject to submission of self-certificate of good health.
Benefits: Rs.2 lakhs is payable on member’s death due to any reason
Premium: Rs.330/- per annum per member. The premium will be deducted from the account holder’s savings bank account through ‘auto debit’ facility in one installment, as per the option given, on or before 31st May of each annual coverage period under the scheme. Delayed enrollment for prospective cover after 31st May will be possible with full payment of annual premium and submission of a self-certificate of good health. The premium would be reviewed based on annual claims experience. However, barring unforeseen adverse outcomes of extreme nature, efforts would be made to ensure that there is no upward revision of premium in the first three years.
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Eligibility Conditions:
a) The savings bank account holders of the participating banks aged between 18 years (completed) and 50 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the above modality, will be enrolled into the scheme.
b) Individuals who join after the initial enrollment period extending up to 31st August 2015 or 30th November 2015, as the case may be, will be required to give a self-certification of good health and that he / she does not suffer from any of the critical illnesses as mentioned in the applicable Consent cum Declaration form as on date of enrollment or earlier.
Master Policy Holder: Participating Banks will be the Master policy holders. A simple and subscriber friendly administration & claim settlement process shall be finalized by LIC / other insurance company in consultation with the participating bank.
Termination of assurance: The assurance on the life of the member shall terminate on any of the following events and no benefit will become payable there under:
1) On attaining age 55 years (age near birth day) subject to annual renewal up to that date (entry, however, will not be possible beyond the age of 50 years).
2) Closure of account with the Bank or insufficiency of balance to keep the insurance in force.
3) In case a member is covered under PMJJBY with LIC of India / other company through more than one account and premium is received by LIC / other company inadvertently, insurance cover will be restricted to Rs. 2 Lakh and the premium shall be liable to be forfeited.
4) If the insurance cover is ceased due to any technical reasons such as insufficient balance on due date or due to any administrative issues, the same can be reinstated on receipt of full annual premium and a satisfactory statement of good health.
5) Participating Banks shall remit the premium to insurance companies in case of regular enrolment on or before 30th of June every year and in other cases in the same month when received.
Administration:
The scheme, subject to the above, will be administered by the LIC P&GS Units / other insurance company setups. The data flow process and data proforma will be informed separately.
It will be the responsibility of the participating bank to recover the appropriate annual premium in one installment, as per the option, from the account holders on or before the due date through ‘auto-debit’ process.
Members may also give one-time mandate for auto-debit every year till the scheme is in force.
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Enrollment form / Auto-debit authorization / Consent cum Declaration form in the prescribed proforma shall be obtained and retained by the participating bank. In case of claim, LIC / insurance company may seek submission of the same. LIC / Insurance Company reserves the right to call for these documents at any point of time.
The acknowledgement slip may be made into an acknowledgement slip-cum-certificate of insurance.
The experience of the scheme will be monitored on yearly basis for re-calibration etc., as may be necessary.
Appropriation of Premium:
1) Insurance Premium to LIC / insurance company : Rs.289/- per annum per member
2) Reimbursement of Expenses to BC/Micro/Corporate/Agent : Rs.30/- per annum per member
3) Reimbursement of Administrative expenses to participating Bank: Rs.11/- per annum per member
The proposed date of commencement of the scheme will be 1st June 2015.The next Annual renewal date shall be each successive 1st of June in subsequent years.
The scheme is liable to be discontinued prior to commencement of a new future renewal date if circumstances so require.
FAQ: -
FAQs on PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA
Q1. What is the nature of the scheme?
The scheme will be a one year cover Term Life Insurance Scheme, renewable from
year to year, offering life insurance cover for death due to any reason.
Q2. What would be the benefits under the scheme and premium payable?
Rs.2 lakhs is payable on a subscriber’s death due to any reason. The premium payable
is Rs.330/- per annum per subscriber.
Q3. How will the premium be paid?
The premium will be deducted from the account holder’s savings bank account through
‘auto debit’ facility in one installment, as per the option to be given on enrolment.
Members may also give one-time mandate for auto-debit every year till the scheme is in
force, subject to re-calibration that may be deemed necessary on review of experience
of the scheme from year to year.
Q4. Who will offer / administer the scheme?
The scheme would be offered / administered through LIC and other Life Insurance
companies willing to offer the product with necessary approvals on similar terms, in
collaboration with participating Banks. Participating banks will be free to engage any
such life insurance company for implementing the scheme for their subscribers.
Q5. Who will be eligible to subscribe?
All savings bank account holders in the age 18 to 50 years in participating banks will be
entitled to join. In case of multiple saving bank accounts held by an individual in one or
different banks, the person would be eligible to join the scheme through one savings
bank account only.
Q6. What is the enrolment period and modality?
Initially on launch for the cover period from 1st June 2015 to 31st May 2016 subscribers
are expected to enroll and give their auto-debit option by 31st May 2015, extendable up
to 31st August 2015. Enrolment subsequent to this date will be possible prospectively on
payment of full annual payment and submission of a self-certificate of good health.
Subscribers who wish to continue beyond the first year will be expected to give their
consent for auto-debit before each successive May 31st for successive years. Delayed
renewal subsequent to this date will be possible on payment of full annual premium and
submission of a self-certificate of good health.
Q7. Can eligible individuals who fail to join the scheme in the initial year join in
subsequent years?
Yes, on payment of premium through auto-debit and submission of a self-certificate of
good health. New eligible entrants in future years can also join accordingly.
Q8. Can individuals who leave the scheme rejoin?
Individuals who exit the scheme at any point may re-join the scheme in future years by
paying the annual premium and submitting a self declaration of good health.
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Q9. Who would be the Master policy holder for the scheme?
Participating Banks will be the Master policy holders. A simple and subscriber friendly
administration & claim settlement process shall be finalized by LIC / chosen insurance
company in consultation with the participating bank.
Q10. When can the assurance on life of the member terminate?
The assurance on the life of the member shall terminate / be restricted accordingly on
any of the following events:
i. On attaining age 55 years (age near birth day), subject to annual renewal up to
that date (entry, however, will not be possible beyond the age of 50 years).
ii. Closure of account with the Bank or insufficiency of balance to keep the
insurance in force.
iii. In case a member is covered through more than one account and premium is
received by LIC / insurance company inadvertently, insurance cover will be
restricted to Rs. 2 Lakh and the premium shall be liable to be forfeited.
Q11. What will be the role of the insurance company and the Bank?
i. The scheme will be administered by LIC or any other Life Insurance company
which is willing to offer such a product in partnership with a bank / banks.
ii. It will be the responsibility of the participating bank to recover the appropriate
annual premium in one installment, as per the option, from the account holders
on or before the due date through ‘auto-debit’ process and transfer the amount
due to the insurance company.
iii. Enrollment form / Auto-debit authorization / Consent cum Declaration form in the
prescribed proforma, as required, shall be obtained and retained by the
participating bank. In case of claim, LIC / insurance company may seek
submission of the same. LIC / Insurance Company also reserve the right to call
for these documents at any point of time.
Q12. How would the premium be appropriated?
a. Insurance Premium to LIC /other insurance company: Rs.289/- per annum
per member;
b. Reimbursement of Expenses to BC/Micro/Corporate/Agent : Rs.30/- per
annum per member;
c. Reimbursement of Administrative expenses to participating Bank: Rs.11/- per
annum per member.
Q13. Will this cover be in addition to cover under any other insurance scheme the
subscriber may be covered under?
Yes.
****************
FORM: -
CONSENT-CUM-DECLARATION FORM
To be filled in by members joining the scheme during the permitted “Enrolment Period”)
I hereby give my consent to become a member of „ Pradhan MantriJeevan Jyoti Bima Yojana‟ of LIC of India which will be administered by thePost office
as Master Policyholder No 900100940.
I hereby authorize you to debit today my Post office Savings Account with your Post office with Rs.330/- (Rupees three hundred thiry only) plus Service
Tax,if applicable towards premium of life cover under PMJJBY. I further authroize you to deduct in future after 25th May and not later than on 1st of June
every year until further instructions, an amount of Rs 330/- (Rupees three hundred thirty only) and Service Tax if applicable, or any amount as decided
from time to time, which may be intimated immediately if and when revised, towards renewal of coverage under the Scheme.
I have not authorized any other Post office or Bank to debit premium in respect of this scheme. I am aware that my life cover shall be restricted to Rs
2,00,000/- only in the event of my death.
I have read and understood the Scheme rules and I hereby give my consent to become a member of the scheme.
I authorize the Post office to convey my personal details, given below, as required, regarding my admission into the group insurance scheme to LIC of
India.
Applicant Details, as per Post office / KYC records:
*Name of the Account holder (as per Post office records)
*Post office Savings Account
No. and CIF ID
*A/C No.-
*CIF ID-
(For Joint Account)
Aadhar Number, if
available
*SOL ID (Post Office) Mobile Number
E-mail ID *Name of Nominee
*Relationship of Nominee with
sunscriber
*Name of Guardian if
Nominee is minor.
*Address of Nominee/Guardian
Locality/Village/City/Dist./State
*Date of Birth of
Subscriber
*Full Address of Subscriber
Locality/Village/City/Dist./State
*Mandatory Fields
I hereby nominate my nominee as above under this scheme.
Nominee being minor, his/her guardian is appointed as above.
I hereby declare that the above statements are true in all respects and that I agree and declare that the above information shall form the basis of
admission to the above Scheme and that if any information be found untrue, my membership to the Scheme, shall be treated as cancelled.
Date:_______________
Signature& Address of Witness Signature/Thumb Impression* of Subscriber
(If Subscriber is illiterate) (* LTI in case of male and RTI in case of female)
(FOR OFFICE USE)
Form is checked, Signatures verified with Office Record/Wittness Accepted.
Signature of Postmaster with Seal
(To Be Filled by the Official who collected Form)
Name_________________________________ Designation_____________________________Office of Posting_______________________
Mobile No.________________________Name of HPO from which Pay is Drawn______________________________________________
Signature of the Official with Date______________________________________________________________________________________
__________________________________________________________________________________________________
ACKNOWLEDGEMENT SLIP CUM CERTIFICATE OF INSURANCE (to be cut and given to subscriber)
We hereby acknowledge receipt of “Consent-cum-DeclarationForm” from Shri / Smt. _______________________________holding Post
office Savings Account No.______________________________, Aadhar No. (if available) ___________________________, consenting and
authorizing auto-debit from the specified Post officeSavings Account to join the Pradhan Mantri Jeevan Jyoti BimaYojana with LIC of India for
cover under Master Policy No.900100940, subject to correctness of information provided regarding eligibility and receipt of consideration
amount. Insurance cover will start from the date on which premium will be reeceived by LIC.
Signature of Postmaster with Seal.
INCENTIVES: -
COLLECTION OF FORMS FROM POSB CUSTOMERS
Incentive structure (per form collected) for PMJJBY
PMJJBY :-
GDS/Postman/Counter PA- Rs.20.00
GDS BPM:- Rs.1.00 (additional work as BPM)
Counter PA (additional work in Finacle)- Rs.3.00
Counter Supervisor/SPM (For verification)- Rs.1.50
HO Special Monitoring Cell Officials- Rs.1.50
Accounts branch of HO:- Rs.0.75
Divisional Office Monitoring Cell:- Rs.0.75
Ro/Co Monitoring Cell:- Rs.0.50
Directorate Monitoring Cell.:- Rs.0.50
DAP Monitoring Cell:- Rs.0.25
Directorate Monitoring Cell (PAF)- Rs.0.25
source://https://www.indiapost.gov.in
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