How to claim Rs 2 lakh govt insurance against 

unfortunate Covid death

If you have lost a family member to COVID-19, there is a government insurance scheme that may make you eligible for Rs 2 lakh insurance amount.

Launched on May 9, 2015, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) offers Rs 2 lakh term insurance cover to bank account holders in the age group of 18 to 50 years. If your dear one whom you have lost had happened to buy this policy in the financial year 2020-21, the nominee/heir may apply for the claim.

The scheme is a one-year term insurance cover stretching from June 1 to May 31, renewable from year to year. It offers life insurance cover for death due to any cause. It means death due to COVID is covered. It also covers death due to murder and suicide.

The premium payable is Rs 330 per annum for a cover of Rs 2 lakh, which is in addition to any policy that the policyholder may have held. The scheme is being offered by Life Insurance Corporation and all other life insurers who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.

There are some reports that the insurance claim has to be made within 30 days after the death of the insured person. However, one should not panic.

"Before making a claim, obtaining documents such as death certificate, cause of death, etc, may take several weeks, even months in some cases, therefore the claims process even in normal times may exceed 30 days. Therefore, the nominees need not panic and be in touch with their policyholder's bank about the claims. The claims process would require documents such as the duly filled claims form, death certificate, discharge receipt and cancelled cheque leaf, etc," he adds.

The banks have to forward duly completed claim form to the concerned insurance company within 30 days from the submission of the claim to it.

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