The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is one of the flagship life insurance schemes launched by the Government of India to provide affordable insurance protection to the citizens of the country. This initiative is a part of the government’s mission to promote financial inclusion and provide social security to every Indian household.
Launched by Prime Minister Narendra Modi, PMJJBY is designed to ensure that even the economically weaker sections of society can access life insurance coverage at a very minimal cost. This scheme provides a life insurance cover of ₹2 lakh in case of death due to any reason—whether natural or accidental.
Let’s explore in detail what the PMJJBY scheme is, how it works, who can apply, and how you can enroll yourself online or offline.
Overview of Pradhan Mantri Jeevan Jyoti Bima Yojana
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed term life insurance scheme that provides financial protection to the insured person’s family in case of their untimely death. It is a one-year renewable policy, meaning it needs to be renewed every year to continue the benefits.
Unlike traditional insurance plans that require high premiums and complex paperwork, PMJJBY is simple, affordable, and accessible to anyone with a bank or post office account. The premium amount is automatically deducted from the subscriber’s account once a year.
Key Features at a Glance
| Particulars | Details |
|---|---|
| Scheme Name | Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) |
| Launched By | Government of India |
| Implemented Through | Participating Banks / Post Offices and Life Insurance Companies |
| Beneficiaries | Indian citizens aged 18 to 50 years with a savings account |
| Coverage Amount | ₹2 Lakh |
| Premium Amount | ₹436 per annum per person |
| Coverage Type | Life Insurance (death due to any reason) |
| Tenure | One year (renewable annually) |
| Mode of Payment | Auto-debit from bank or post office account |
Objectives of PMJJBY
The main objective of the Pradhan Mantri Jeevan Jyoti Bima Yojana is to extend life insurance coverage to people from every walk of life, especially those who cannot afford costly insurance policies.
Some of the key objectives are:
- To ensure financial security for the family of the insured in case of death.
- To provide a low-cost life insurance option to citizens across India.
- To encourage financial inclusion by linking insurance with bank and post office accounts.
- To increase awareness about the importance of life insurance and risk protection.
- To empower the lower and middle-income groups with easy access to insurance coverage.
Benefits of Pradhan Mantri Jeevan Jyoti Bima Yojana
The PMJJBY offers several valuable benefits, making it one of the most effective and widely adopted government insurance schemes.
1. Affordable Premium
The biggest advantage of PMJJBY is its nominal premium of ₹436 per year. For just about ₹1.19 per day, subscribers can secure a life cover worth ₹2 lakh, which is a significant financial support for families in case of the policyholder’s death.
2. Life Cover for Death Due to Any Reason
Unlike many insurance policies that limit coverage to accidental death, PMJJBY covers death due to any reason — whether it’s natural, illness-related, or accidental. This feature makes it a comprehensive protection plan.
3. Easy Enrollment Process
The enrollment process is simple and hassle-free. Individuals can join the scheme online or offline through their respective bank or post office. The premium amount is auto-debited annually, ensuring continuity of coverage without repeated manual renewals.
4. One-Year Renewable Cover
The insurance policy is valid for one year (from June 1 to May 31 of the following year). Subscribers can renew it every year automatically, as long as their bank or post office account remains active and has a sufficient balance.
5. Nationwide Availability
The scheme is available across all banks and post offices in India. Every citizen with a valid account can apply, making PMJJBY one of the most accessible insurance schemes in the country.
6. Secure Financial Support for Family
In case of the policyholder’s death, the nominee receives ₹2,00,000 directly into their bank account. This amount can help the family cover immediate expenses, repay loans, or sustain daily needs.
Eligibility Criteria
To enroll in the Pradhan Mantri Jeevan Jyoti Bima Yojana, applicants need to meet the following eligibility conditions:
- The applicant must be an Indian citizen.
- The applicant’s age must be between 18 and 50 years.
- The applicant must have an active savings account in a participating bank or post office.
- The applicant must give consent to join or renew the scheme and enable auto-debit for the annual premium.
- The applicant must not be covered under more than one PMJJBY policy.
Documents Required
To apply for PMJJBY, you need to provide a few basic documents for identity verification and enrollment.
List of Required Documents:
- Aadhaar Card
- PAN Card
- Voter ID / Driving License (for identity proof)
- Bank Account Passbook or Account Number
- Passport-size Photograph
- Duly Filled Consent-cum-Declaration Form
How to Apply for PMJJBY
You can apply for Pradhan Mantri Jeevan Jyoti Bima Yojana in two ways — online and offline.
1. Offline Application Process
If you prefer visiting your bank or post office in person, you can apply through the offline mode by following these steps:
Step 1:
Download and print the “Consent-cum-Declaration Form” available on your bank’s or post office’s website or directly collect it from the branch.
Step 2:
Fill out the form carefully with accurate details such as your name, age, bank account number, nominee details, and declaration.
Step 3:
Attach self-attested copies of required documents (Aadhaar, identity proof, etc.) with the filled form.
Step 4:
Submit the completed form to the authorized bank or post office official.
Step 5:
After verification, the official will provide you with an Acknowledgment Slip-cum-Certificate of Insurance, confirming your enrollment in the scheme.
2. Online Application Process
The PMJJBY also allows digital enrollment through the online portals of participating banks.
Step 1:
Log in to your bank’s internet banking account or mobile banking app.
Step 2:
Find the “Insurance” or “Government Schemes” section.
Step 3:
Click on “Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)”.
Step 4:
Read the details carefully and provide your consent to enroll.
Step 5:
The annual premium of ₹436 will be automatically deducted from your linked bank account.
Step 6:
You will receive an SMS or email confirmation for successful enrollment.
Premium Details
- Premium Amount: ₹436 per annum per subscriber.
- Mode of Payment: Auto-debit from the subscriber’s bank or post office account.
- Renewal Date: Usually between May and June every year.
The government reviews the premium periodically, but it remains among the lowest-cost life insurance options available in the country.
Claim Procedure
In the unfortunate event of the insured person’s death, the nominee can file a claim under the PMJJBY scheme. Here’s how:
- Inform the Bank/Post Office: The nominee should immediately inform the bank or post office where the policy was held.
- Collect the Claim Form: Obtain the claim-cum-discharge form from the bank, post office, or insurance company.
- Submit Required Documents: The nominee must submit the following documents:
- Duly filled claim form
- Death certificate of the insured person
- Copy of the deceased’s bank passbook or account details
- Identity proof of the nominee
- Verification and Processing: The bank will verify the claim details and forward the case to the concerned insurance company.
- Payment: Upon successful verification, the claim amount of ₹2 lakh will be credited directly to the nominee’s bank account.
Important Points to Remember
- The PMJJBY is renewable every year. If you do not have sufficient balance in your account at the time of renewal, your coverage may lapse.
- If you exit the scheme and later wish to rejoin, you can do so by submitting a new application form.
- Multiple enrollments are not allowed. Each person can hold only one PMJJBY policy.
- The insurance cover ends automatically at age 55, or if the account is closed or the premium is not paid.
- It is advisable to nominate a family member carefully so that the claim process becomes smooth and quick in case of any unfortunate event.
Why You Should Enroll in PMJJBY
Many individuals underestimate the importance of life insurance due to high costs or lack of awareness. However, PMJJBY removes both barriers.
For less than ₹40 per month, you can ensure that your family will have financial support worth ₹2 lakh in case something happens to you.
This coverage is not just an insurance policy—it’s a safety net that provides:
- Peace of mind for you and your family
- Financial stability in difficult times
- Protection for your dependents from sudden income loss
Whether you are a farmer, laborer, small business owner, or salaried employee, PMJJBY is a must-have life insurance cover for everyone.
Government’s Vision Behind PMJJBY
The Pradhan Mantri Jeevan Jyoti Bima Yojana is part of the Jan Suraksha Yojana initiative, launched by the Government of India to create a financially secure and inclusive nation.
Alongside PMJJBY, the government has also launched:
- Pradhan Mantri Suraksha Bima Yojana (PMSBY) – provides accidental insurance coverage.
- Atal Pension Yojana (APY) – ensures regular pension after retirement.
Together, these schemes represent the government’s holistic approach to financial safety and social protection for every citizen.
