Pradhan Mantri Jeevan Jyoti Bima Yojana MCQ - Practice Questions with Answers

The scheme provides a fixed life cover of ₹2 lakh, payable to the nominee when the insured member dies due to any cause, subject to its conditions. It is therefore broader than accident-only insurance, while duplicate enrolment through several accounts cannot raise one person's total cover above ₹2 lakh.

For delayed first-time enrolment, the premium follows fixed quarter bands: ₹436 for June-August, ₹342 for September-November, ₹228 for December-February and ₹114 for March-May. Since December lies in the third listed band, the payable amount is ₹228, not the full renewal premium.

Option D is incorrect because accidental death is covered from the first day. The 30-day lien applies to first-time entrants and re-entrants, but it excludes only death from a cause other than accident during that initial period. Thus the rule does not create a blanket 30-day exclusion for every kind of death.

Both statements are correct. Entry is open to individual savings bank or post office account holders aged 18 to 50 who consent to annual auto-debit. Entry is barred beyond 50, but a person who enrolled before that limit may continue annual renewals until attaining age 55, subject to the other conditions.

The full annual premium totals ₹436 and is apportioned as ₹395 to the insurer, ₹30 as commission to business correspondents or agents for new enrolments only, and ₹11 as administrative reimbursement to the participating bank or post office. Hence the correct matching is (a)-3, (b)-2 and (c)-1.