Ministry of Finance, Department of Financial Services, Government of India
PM Jeevan Jyoti Bima Yojana (PMJJBY) — ₹2 Lakh Life Cover at ₹436/Year
Objective
Provide affordable life insurance cover to all Indians, especially those from the low-income segment who cannot access private insurance, through a simple bank account-linked annual subscription.
Eligibility Criteria
- Must have a savings bank account
- Age 18 to 50 years at the time of joining
- Auto-debit consent required from your bank account
- No medical examination required — anyone with a bank account can enrol
- Multiple bank accounts: you can enrol through one bank account only
- Joint account holders can each enrol separately by paying ₹436 each
Benefits & Features
- 1₹2 lakh paid to the nominee on the subscriber's death due to any cause (accident, illness, or natural death)
- 2Annual premium: ₹436 per year (auto-debited from bank account every June 1)
- 3Cover period: June 1 to May 31 every year (renewable annually)
- 4Pro-rata premium if enrolled mid-year
- 5No medical test, no paperwork complexity — just give auto-debit consent at your bank
Required Documents
- Aadhaar card (mandatory for identification and bank linking)
- Savings bank account (any participating bank — SBI, PNB, Canara, UCO, BOI, etc.)
- Nominee details (name, relationship, date of birth)
- Auto-debit consent form (available at your bank or online)
How to Apply
Official Portal & Helpline
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PM Jeevan Jyoti Bima Yojana — Life Insurance for ₹1.19 a Day
Think about it — ₹436 per year works out to just about ₹1.19 per day. For that amount, your family gets ₹2 lakh if anything happens to you. No medical test, no complex eligibility, no agent commission — just a bank account and your consent.
That is what the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) offers. It was launched on May 9, 2015 and is one of the three Jan Suraksha schemes introduced to bring insurance to people who never had access to it.
What You Get
- Life cover: ₹2 lakh paid to your nominee if you die — for any reason (accident, illness, or natural death)
- Annual premium: ₹436 per year (auto-debited from your bank account every June 1)
- No medical test required
- No income limit — anyone with a savings bank account can enrol
Who Is Eligible
| Criteria | Detail |
|---|---|
| Age | 18 to 50 years at the time of joining |
| Account required | Savings bank account with any participating bank |
| Medical test | Not required |
| Enrolment | Multiple accounts allowed, but cover through one account only |
Even if you have multiple bank accounts, you can only take PMJJBY cover once — through one account. The premium is ₹436 per account per year.
Premium Details
The annual premium is ₹436 per year, auto-debited from your bank account on June 1 every year. If you enrol mid-year, the premium is pro-rated:
| Enrolment Month | Premium Payable |
|---|---|
| June, July, August | ₹436 |
| September, October, November | ₹342 |
| December, January, February | ₹228 |
| March, April, May | ₹114 |
How to Enrol
At the bank branch:
- Visit any branch of your bank (SBI, PNB, BOI, Canara, UCO, or other participating banks)
- Ask for the PMJJBY application/enrolment form
- Fill in your name, Aadhaar number, nominee name, relationship, and date of birth
- Sign the auto-debit consent form
- Submit — your cover starts from the date of enrolment
Online: Most banks including SBI, HDFC, ICICI, and PNB allow enrolment through net banking. Log in → Insurance → PMJJBY → Enrol.
How the Claim Works
If a subscriber passes away, the nominee must:
- Contact the bank branch where the subscriber had the PMJJBY-linked account
- Submit the claim form (available at the bank or at jansuraksha.gov.in)
- Attach: Death certificate + Nominee's identity proof + Nominee's bank account details
- Claim must be filed within 30 days of death
The claim amount of ₹2 lakh is transferred directly to the nominee's bank account.
Important Things to Know
- The cover period is June 1 to May 31 every year. Make sure your account has ₹436 balance every June 1.
- If the auto-debit fails and premium is not paid, the cover lapses — you can re-enrol but with a declaration of good health.
- There is no survival benefit — this is a pure term life insurance scheme.
- The insurance is underwritten by Life Insurance Corporation of India (LIC) and other life insurers through bank tie-ups.
Quick Links
- Official Website: jansuraksha.gov.in
- Department of Financial Services: financialservices.gov.in
- Helpline: 1800-180-1111 / 1800-110-001 (toll-free)
If you have a bank account and don't have this, enrol today. ₹436 a year is a small price for a ₹2 lakh safety net for your family.