PM Jeevan Jyoti Bima Yojana — ₹2L Life Cover ₹436/yr

What is PM Jeevan Jyoti Bima Yojana?

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme that provides a ₹2 lakh death benefit at a very low annual premium of ₹436 per year (auto-debited from your bank account).

Key features:

• Coverage: ₹2 lakh on death due to any reason (natural or accidental)
• Premium: ₹436/year (approx ₹1.20/day) — auto-debited every June 1
• No medical examination required
• Available to all bank/post office account holders
• Renewable annually

Who is Eligible?

• Age: 18 to 50 years at the time of enrollment
• Must have a savings bank account or Jan Dhan account
• Mobile number must be linked to the bank account (for consent)
• Aadhaar should be linked to the bank account

Coverage continues until age 55 (if enrolled before 50), provided annual premium is paid.

Premium and Coverage

How to Enroll — Step by Step

Via Your Bank (Easiest Method)

1. Visit your bank branch where you have a savings account
2. Fill the PMJJBY enrollment form (available at the bank)
3. Give your consent for auto-debit of ₹436/year
4. Submit the form with Aadhaar copy
5. Your bank will deduct the premium and register you with the insurance company

Via Net Banking / Mobile Banking

1. Log in to your bank's net banking / mobile app
2. Look for "Insurance" or "PMJJBY" section
3. Click "Subscribe/Enroll"
4. Confirm auto-debit consent
5. You'll receive a confirmation SMS

Via Jan Dhan Account

1. Visit the bank branch where your PMDB/Jan Dhan account is held
2. Submit consent form for PMJJBY
3. Premium of ₹436 is auto-debited — if balance is low, many banks allow a small overdraft for Jan Dhan accounts

Best time to enroll: Any time of year. If you enroll mid-year, your premium is pro-rated; coverage starts immediately.

Documents Required

1. Aadhaar card (linked to bank account)
2. Bank account details (you already have an account)
3. Consent form (provided by the bank at enrollment)

No health check or medical documents are required.

How to Claim — When the Insured Person Dies

The nominee must:

1. Inform the bank where the deceased was enrolled in PMJJBY
2. Fill the PMJJBY claim form (available at the bank)
3. Submit:
   • Death certificate (original)
   • Nominee's identity proof and bank account details
   • Bank account details of the deceased
4. Bank forwards the claim to the insurance company (LIC, SBI Life, or other partner)
5. Claim is settled within 30 days — ₹2 lakh transferred to nominee's account

PMJJBY vs PMSBY: What's the Difference?

Tip: Both schemes together cost just ₹456/year and give ₹4 lakh combined coverage (₹2L + ₹2L accidental death) — enroll in both.

Frequently Asked Questions

Can I enroll in PMJJBY if I already have another life insurance policy?

Yes — PMJJBY is a separate scheme and can be held alongside any private or LIC policy.

What if the premium auto-debit fails?

If ₹436 cannot be auto-debited on June 1 (insufficient balance), your policy lapses. You can re-enroll the next year by paying the annual premium.

Is the ₹2 lakh benefit taxable?

The death benefit received by the nominee is not taxable under Section 10(10D) of the Income Tax Act.

Can NRIs enroll in PMJJBY?

NRIs with an Indian savings bank account can enroll. However, claims may require additional documentation.

What if I change banks?

You need to re-enroll at the new bank. Your old bank policy will lapse if premium cannot be debited.

Official Links

• Scheme details: jansuraksha.gov.in
• Enroll: Visit your nearest bank branch or use net banking
• Helpline: 1800-180-1111 (LIC), or your bank's customer care