PM Jeevan Jyoti Bima Yojana (PMJJBY)
Managed by: Ministry of Finance (Department of Financial Services)
About the Scheme
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed annual renewable term life insurance scheme offering Rs. 2 Lakh coverage for a premium of just Rs. 436 per year, available to all savings bank account holders aged 18 to 50 years.
Welfare Benefits & Assistance
- •Life insurance cover of Rs. 2 Lakh payable to the nominee in the event of the subscriber's death due to any cause (natural or accidental)
- •Annual premium of only Rs. 436 — auto-debited from bank account, making it one of the cheapest term life insurance policies in India
- •No medical examination required at the time of enrollment
- •Insurance proceeds received by the nominee are generally exempt from Income Tax
- •Policy is renewable annually with seamless auto-debit; no repeated paperwork required
Eligibility Criteria
Additional Prerequisites
- Must hold an individual savings bank account or post office savings account
- Must give consent for auto-debit of the annual premium from the linked bank account
- Can join through only one bank or post office account
- Aadhaar is the primary KYC document for the linked bank account
Documents Required for Application
Tip: Keep scanned color copies of these documents ready before starting your online application.
How to Apply (Step-by-Step Guide)
Log in to your bank's net banking or mobile banking app
Navigate to the 'Social Security Schemes' or 'Jan Suraksha' section
Select 'PMJJBY' and provide consent for auto-debit of Rs. 436 annually
Enter nominee details and submit the enrollment form
Confirmation SMS will be sent to your registered mobile number
Visit your bank branch where you hold a savings account
Fill the Consent-cum-Declaration Form for PMJJBY
Provide nominee details and sign the auto-debit mandate
Submit the form at the counter; the bank will process the enrollment
Who Should Apply?
- ✓All Indian citizens aged 18-50 who hold a savings bank account and want affordable life insurance
- ✓Low-income families seeking basic financial protection for their dependents
- ✓Individuals without any existing life insurance policy
Who Should NOT Apply?
- ✗Persons above 50 years of age who have not already enrolled
- ✗Individuals already holding adequate term life insurance coverage
- ✗Persons without an active savings bank account or post office account
Common Rejection Reasons
- •Insufficient balance in bank account for auto-debit of Rs. 436 premium
- •Bank account is dormant or frozen
- •Aadhaar not linked to the bank account
- •Claim filed during the 30-day lien period (for non-accidental death)
Recent Updates & Changes
- »2022: Premium revised from Rs. 330 to Rs. 436 per annum
- »2026: Over 16 crore active subscribers enrolled under PMJJBY nationally
- »2015: Scheme launched by PM Modi as part of the Jan Suraksha initiative
Frequently Asked Questions (FAQs)
What is the premium for PMJJBY?
What is the coverage amount under PMJJBY?
Is a medical examination required?
What is the lien period?
Can I enroll in both PMJJBY and PMSBY?
Related Welfare Schemes
PM Suraksha Bima Yojana (PMSBY)
All Indian citizens aged 18-70 who want affordable accidental death and disability insurance
- •Accidental death cover of Rs. 2 Lakh payable to the nominee
- •Total permanent disability cover of Rs. 2 Lakh (loss of both eyes, both hands, both feet, or loss of one eye and one hand/foot)
Atal Pension Yojana
Unorganized sector workers aged 18-40
- •Guaranteed monthly pension of Rs. 1,000 to Rs. 5,000 after age 60
- •Government co-contributes 50% of premium (for eligible members joined before 2016)
Ayushman Bharat PM-JAY
SECC-2011 deprived families
- •Rs. 5 Lakhs health cover per family per year
- •Cashless treatment at empaneled hospitals
Jai Bangla Pension
SC/ST residents aged 60+ in West Bengal
- •Monthly pension of Rs. 1,000 credited directly to bank account
- •Covers both Taposili Bandhu (SC) and Jai Johar (ST) sub-schemes