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Ankita Dutta

Ankita Dutta

Asked on 29 December, 2018

Can I join the scheme even after 31 May?

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Yes, in case you have missed the May 31 deadline for enrolment, then you can join subsequently by paying the full annual premium or the proportionate amount; the premium amount depends on the date of joining.

Anika Singh

Anika Singh

Asked on 29 December, 2018

Are there any tax benefits available under PMJJBY?

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Yes, subscribers can claim a tax benefit on the premium paid towards the PMJJBY policy, which is eligible for tax deduction under section the 80C of Income Tax Act. However, if the insurance holder fails to submit form 15 G/15 H then any life insurance proceeds exceeding Rs. 1,00,000 will be taxable by 2%.

Ishan Chopra

Ishan Chopra

Asked on 29 December, 2018

Can a subscriber discontinue and rejoin the scheme?

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Yes, the PMJJBY scheme allows a subscriber who wants to discontinue or walk out of the scheme to do so at any time. They can also rejoin the scheme in the future.

Aaradhya Trivedi

Aaradhya Trivedi

Asked on 29 December, 2018

How much to pay if I join after 31 May of a year?

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As per the 2018-19 rules, full annual premium is payable for enrollment in June-August 2018. For enrolment in September-November 2018, Rs. 258 is payable. For enrollment in Dec'18-Feb'19, Rs. 172 is payable. And, for enrolment in March-May 2019, Rs. 86 is payable.

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