Life is unpredictable, and financial security for your family is more important than ever. To ensure affordable life insurance for every citizen, the Government of India launched the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)—a simple and low-cost life insurance scheme designed especially for common people.
Thank you for reading this post, don't forget to subscribe!In this post, we explain what PMJJBY is, its benefits, eligibility, premium, coverage, and how to apply, in simple language.
What is Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme that provides life cover of ₹2 lakh in case of the policyholder’s death due to any reason.
The scheme is linked to your bank account and offers insurance coverage at a very low annual premium, making it accessible to millions of Indians.
Key Features of PMJJBY
- Life insurance cover of ₹2,00,000
- Very low annual premium
- Covers death due to any cause
- Policy linked to savings bank account
- Auto-debit facility for premium payment
- One-year renewable term (renewed every year)
PMJJBY Insurance Coverage Details
- Coverage Amount: ₹2 lakh
- Risk Coverage: Death due to natural causes or accidents
- Policy Period: 1 year (1st June to 31st May)
- Renewal: Automatic every year through bank account
Premium Amount for PMJJBY
- Annual Premium: ₹436 per year
- Premium is auto-debited from the linked bank account
- Applicable GST is included in the premium
This makes PMJJBY one of the cheapest life insurance schemes in India.
Eligibility Criteria for PMJJBY
To enroll in Pradhan Mantri Jeevan Jyoti Bima Yojana, you must:
- Be 18 to 50 years of age
- Have a savings bank account
- Give consent for auto-debit
- Aadhaar-linked bank account (recommended)
Once enrolled before 50, coverage can be continued up to 55 years by paying the premium.
How to Apply for PMJJBY
You can apply for PMJJBY both online and offline.
1. Apply Through Bank (Offline)
- Visit your bank branch
- Ask for PMJJBY enrollment form
- Fill in details and submit
- Give auto-debit consent
2. Apply Online (Internet / Mobile Banking)
Many banks allow PMJJBY enrollment through:
- Net banking
- Mobile banking apps
Simply log in → Insurance schemes → Select PMJJBY → Confirm enrollment.
Documents Required for PMJJBY
- Aadhaar Card
- Bank account details
- Consent for auto-debit
No medical test is required.
PMJJBY Claim Process
In case of the policyholder’s death:
- Nominee informs the bank
- Submit claim form
- Attach death certificate
- Provide bank details of nominee
After verification, ₹2 lakh is directly credited to the nominee’s account.
Benefits of Pradhan Mantri Jeevan Jyoti Bima Yojana
- Extremely affordable life insurance
- Financial protection for family
- Easy enrollment process
- No medical examination
- Government-backed trust and security
Who Should Take PMJJBY?
PMJJBY is ideal for:
- Low- and middle-income families
- First-time insurance buyers
- Salaried employees
- Self-employed individuals
- Anyone seeking basic life insurance at low cost
Important Points to Remember
- Premium is deducted once every year
- Ensure sufficient balance in your bank account
- Coverage lapses if premium is not paid
- Nominee details should be updated
Final Thoughts
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a powerful step toward financial inclusion and social security. For a small annual premium, it provides essential life cover that can support your family during difficult times.
If you do not already have life insurance, PMJJBY is one of the simplest and most affordable ways to start.