PMJJBY
Pradhan Mantri Jeevan Jyoti Bima Yojana
PMJJBY is India's most affordable life insurance product — providing ₹2 lakh death cover for just ₹436 per year (₹36.33 per month). Launched in May 2015 as part of the Jan Suraksha trio (with PMSBY and APY), it targets the vast majority of working-age Indians who had zero life insurance.
**Why PMJJBY is Exceptional:**
Before PMJJBY, a 35-year-old buying a ₹2 lakh term plan from LIC or a private insurer would pay ₹2,000–₹5,000 per year in premium. PMJJBY offers the same ₹2 lakh coverage for ₹436 — because the government subsidises part of the premium and the scheme runs at massive scale reducing administrative costs.
**No Medical Examination:**
Unlike traditional life insurance, PMJJBY has no medical examination. Anyone with a bank account aged 18–50 can enrol. Pre-existing diseases are not grounds for denial.
**How It Actually Works:**
₹436 is auto-debited from your bank account on 1 June each year. If your balance is insufficient on 1 June, the policy lapses. The insurance coverage runs from 1 June to 31 May of the following year. The insurance company (LIC or one of the private insurers tied up with your bank) pays ₹2 lakh to your nominee if you die at any point during this period — due to any cause (accident, illness, natural causes).
**PMJJBY + PMSBY Together:**
Many users combine PMJJBY (₹436/year, any death) with PMSBY (₹20/year, accidental death and disability). Together they cost just ₹456/year and provide:
- ₹2 lakh for death from any cause (PMJJBY)
- Additional ₹2 lakh for accidental death (PMSBY) — total ₹4 lakh for accidental death
- ₹1 lakh for partial disability (PMSBY)
**Premium History:**
Original premium (2015): ₹330/year. Revised from 1 June 2022: ₹436/year. The premium was unchanged for 7 years before the 2022 revision.
Key Objectives
- Provide affordable term life insurance to economically vulnerable sections.
- Create financial safety net for families after breadwinner's death.
- Expand life insurance penetration from ~3% of GDP to meaningful coverage.
- Leverage Jan Dhan bank accounts as distribution infrastructure.
Benefits
Eligibility
- Indian citizens aged 18–50 years with a bank account
- No income restriction — available to all income levels
- No medical examination required
- Multiple bank accounts — but only ONE PMJJBY subscription allowed
- Bank account must have sufficient balance on 1 June for auto-debit of ₹436
- Nominee must be designated at enrolment
- Re-joining after lapse requires a health self-declaration certificate
- Persons above 50 years cannot newly enrol (those enrolled before 50 continue till 55)
- Income tax payers are NOT excluded — anyone with a bank account can enrol
How to Apply
Step 1: Visit your bank branch OR enrol through net banking / mobile banking
Step 2: Fill the PMJJBY enrolment-cum-auto-debit consent form
Step 3: Provide nominee details (name, relationship, date of birth)
Step 4: ₹436 debited from account (or on 1 June if enrolling mid-year — prorated premium may apply)
Step 5: Insurance certificate issued by the bank (keep this safe)
Step 6 (in case of death): Nominee visits the bank, submits claim form, death certificate, nominee's ID, and bank account details
Step 7: Bank forwards claim to insurance company — settled within 30 days
Required Documents
Frequently Asked Questions
What is the exact premium for PMJJBY in 2025?
The premium is ₹436 per year, auto-debited from your bank account on 1 June. This was revised from ₹330/year in June 2022 and has remained at ₹436 since. The premium covers death from any cause — illness, accident, or natural causes — for the full year from 1 June to 31 May.
My premium was debited but I did not receive any certificate. Is my PMJJBY active?
Yes — if the premium was successfully debited, your coverage is active even without a physical certificate. Ask your bank for your insurance certificate. You can also check the Jan Suraksha portal with your bank account details. Keep the auto-debit SMS as proof.
Can I enrol in PMJJBY after age 50?
No. PMJJBY enrolment is only available for those aged 18–50 years. However, if you enrolled before age 50, you can continue until age 55 by renewing annually. After age 55, the policy automatically terminates.
How does the nominee claim ₹2 lakh after my death?
The nominee must visit the bank branch where the PMJJBY subscription is held. Required documents: (1) completed claim form (available at the bank or jansuraksha.gov.in), (2) original death certificate from municipal authority, (3) nominee's Aadhaar/identity proof, (4) nominee's bank account details for NEFT transfer. The bank submits the claim to the insurance company, who settles within 30 days.
What happens if my PMJJBY lapses? Can I rejoin?
If the policy lapses because ₹436 wasn't in your account on 1 June: you can rejoin in subsequent years. For rejoining after a lapse of more than 45 days, you must submit a health self-declaration certificate stating you are in good health. The bank submits this to the insurance company. There is a 45-day waiting period after rejoining before accidental death is covered (immediate coverage for accidental death in some policies).
Does PMJJBY cover suicide or accidental death?
PMJJBY covers death from ANY cause — including accidental death and illness. Suicide is covered after the first policy year (not in the first year). There is no exclusion for suicide after 12 months of enrolment. This is unlike some private insurance policies.
I have PMJJBY enrolled through multiple bank accounts. What should I do?
Only one PMJJBY subscription is permitted per person. If you have been deducted from multiple accounts, submit a request to your banks to cancel the duplicate subscriptions. The insurance regulator (IRDAI) and the Ministry of Finance have directed banks to prevent duplicate enrolments through Aadhaar-based deduplication, but some legacy duplicates exist. You are only entitled to ₹2 lakh in claim regardless of multiple enrolments.