To deactivate PMJJBY in SBI, you can do it easily through three main methods: using SBI’s net banking service, visiting your nearest branch, or contacting customer care. The process is simple and allows you to stop the coverage if you no longer need it or have opted for alternative insurance.
Here are some simple steps to deactivate PMJJBY, whether you want to do it online through SBI’s net banking, by visiting a branch, or by reaching out to customer care.
1. What is PMJJBY?
Before getting into the deactivation process, let’s recap what PMJJBY is. PMJJBY is a government-backed life insurance scheme offering coverage at an annual premium of ₹436. It provides life insurance coverage of ₹2 lakh for death due to any reason. The premium is auto-debited from the savings account annually.
2. Why you might want to deactivate PMJJBY
- There could be several reasons why you may want to deactivate PMJJBY:
- You already have adequate life insurance coverage.
- You are no longer interested in the scheme.
- The automatic premium deduction is not preferred.
3. How to deactivate PMJJBY in SBI
Here’s how you can deactivate PMJJBY using different methods:
Method 1: Deactivate via SBI Net Banking
- Log in to SBI Internet Banking:
- Go to the SBI website and log in to your internet banking account with your username and password.
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Navigate to the PMJJBY Section:
Once logged in, look for the ‘e-services’ or ‘Service Request’ tab. Here, you can find a section for insurance services, which includes PMJJBY.
Select Deactivation:
In the PMJJBY section, you will find the option to deactivate the insurance. Select ‘Deactivate’ or ‘Cancel Subscription’ and confirm your decision.
Confirm Deactivation:
After selecting the deactivation option, you will be prompted to confirm. After confirmation, your PMJJBY subscription will be cancelled, and no further premium will be deducted.
Method 2: Deactivate by Visiting the Branch
- Visit your nearest SBI branch:
- You can visit any SBI branch if you prefer an offline method for deactivation.
Request a deactivation form:
Request the PMJJBY deactivation form from the bank official or download it from the SBI website and fill in your details.
Submit the form:
Submit the filled form along with any required documents (like identity proof) to the bank official. The branch will process your request, and your PMJJBY subscription will be deactivated.
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Method 3: Deactivate via SMS/Call (Subject to Availability)
Check for SMS Deactivation Service:
Some banks provide an SMS service to deactivate PMJJBY. Check with your local branch or call customer care to see if SMS deactivation is available for your account.
Call SBI Customer Care:
You can also call the SBI customer care helpline at 1800 11 2211 or 1800 425 3800 to inquire about deactivating PMJJBY. They will guide you through the process.
4. Points to Remember
Once you deactivate PMJJBY, no future premium will be deducted, and the coverage will cease.
You can re-enroll in PMJJBY the following year if you change your mind.
Deactivation should be done before the annual premium is auto-debited to avoid unnecessary deductions.
Deactivating PMJJBY in SBI is a simple process, whether you choose to do it online or by visiting the branch. Whether for personal preference or because you’ve found an alternative plan, deactivating PMJJBY is hassle-free and can be done at your convenience.
