Individuals who are a part of PM Jeevan Jyoti Yojana would receive the SMS says “Dear customer, your PM Jeevan Jyoti Bima Yojana or Suraksha Bima Yojana will be renewed on 1 June”.
Insurances who linked with social security schemes which government had announced in 2015 Budget, the renewal date for the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is falling on June 1.
This information is for those who wish to join the schemes, they may still do so. They may join or renew the scheme anytime during the year by paying the full premium, not the proportionate amount. However, the renewal date will remain June 1 for all of the subscribers.
That’s reason it’s better to join now and get cover for the entire 12 months. If you had exited the scheme at any point, you may still re-join the scheme by paying the annual premium.
For the existing subscribers of both the schemes, no fresh mandate is required. They would have started getting the message from their bankers intimating them of the renewal date. No fresh approval needs to be given as the mandate for auto-renewal is already a part of the application form when someone applies for the first time.