PMJJBY & PMSBY: ₹12 & ₹436 Insurance Schemes – Complete Guide

The Government of India offers two of the world's cheapest insurance schemes — Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). Together, they provide ₹4 lakh coverage for less than ₹450 per year.

Disclaimer: CitizenNest is an independent informational platform and is not affiliated with the Government of India.

What Are PMJJBY and PMSBY?

Who Is Eligible?

PMJJBY Eligibility

• Age: 18 to 50 years (policy cover up to age 55)
• Must have a savings bank account
• Must give auto-debit consent for annual premium deduction
• Aadhaar linked to bank account (primary KYC)

PMSBY Eligibility

• Age: 18 to 70 years
• Must have a savings bank account
• Must give auto-debit consent for annual premium deduction
• Aadhaar linked to bank account (primary KYC)

Documents Required

For Enrolment

• Aadhaar card (linked to bank account)
• Savings bank account passbook
• Nomination form (available at bank)
• Consent-cum-declaration form (for auto-debit)

For Claim

• Death certificate (for PMJJBY)
• FIR / Post-mortem report (for accidental death under PMSBY)
• Disability certificate from Civil Surgeon (for partial disability under PMSBY)
• Nominee's bank account details (cancelled cheque / passbook copy)
• Claim form (from the bank)

How to Enrol: Step-by-Step

Option 1: Through Your Bank (Offline)

1. Visit your savings bank branch
2. Ask for the PMJJBY / PMSBY enrolment form
3. Fill in details: name, Aadhaar number, nominee details
4. Sign the auto-debit consent form
5. Submit the form — the bank will activate your cover from 1 June
6. Premium is auto-debited from your account each year (on or before 31 May)

Option 2: Through Net Banking / Mobile Banking (Online)

1. Log in to your bank's net banking or mobile banking app
2. Navigate to Insurance → Social Security Schemes or PMJJBY / PMSBY
3. Select the scheme and verify your details
4. Add nominee details
5. Confirm auto-debit consent
6. You'll receive an SMS confirmation with your cover details

Option 3: Through Jan Suraksha Portal

1. Visit jansuraksha.gov.in
2. Download the application form
3. Fill and submit at your bank branch

Premium Payment & Auto-Debit

• Premium is deducted once a year via auto-debit from your linked savings account
• Deduction happens between 25 May and 31 May each year
• If your account has insufficient balance, the policy lapses
• You can re-enrol by submitting a fresh form and paying the premium (subject to eligibility and health declaration for PMJJBY)
• PMJJBY premium of ₹436 is eligible for tax deduction under Section 80C

Claim Process

PMJJBY Claim (Death of Policyholder)

1. Nominee visits the bank branch where the deceased held the account
2. Collects and fills the claim form
3. Submits: death certificate, nominee's ID proof, bank account details
4. Bank forwards claim to the insurance company (LIC or other participating insurer)
5. Claim is processed and ₹2,00,000 is credited to nominee's account within 30 days

PMSBY Claim (Accidental Death or Disability)

1. Policyholder (for disability) or nominee (for death) visits the bank branch
2. Submits claim form with: FIR, post-mortem report (if death), disability certificate (if disability)
3. Bank forwards claim to the insurer
4. ₹2,00,000 for accidental death or ₹1,00,000 for total permanent disability of one eye/one limb is credited

Processing Time

Important Tips

1. Enrol in both schemes — for just ₹448/year, you get ₹4 lakh combined coverage (₹2L life + ₹2L accident)
2. Keep sufficient balance in your account before 31 May to avoid policy lapse
3. Update nominee details at your bank if your life situation changes
4. Link Aadhaar to your bank account — it's mandatory for these schemes
5. Check your bank statement each June to confirm the premium was deducted and cover is active

Frequently Asked Questions (FAQs)

Q1: Can I enrol in both PMJJBY and PMSBY simultaneously?

Yes. You can enrol in both schemes through the same bank account. The combined premium is just ₹448 per year.

Q2: What happens if my premium is not deducted due to insufficient balance?

Your policy lapses. You can re-enrol by submitting a fresh application form and paying the premium. For PMJJBY, you may need to submit a fresh health declaration.

Q3: Can I have PMJJBY/PMSBY through multiple bank accounts?

No. You can enrol through only one savings bank account for each scheme. If enrolled through multiple accounts, only one will be valid and extra premiums are forfeited.

Q4: Is medical examination required for PMJJBY?

No medical examination is required. However, you must sign a self-declaration of good health. If you re-enrol after a break, a fresh health declaration is needed.

Q5: Are NRIs eligible for these schemes?

NRIs with a valid NRO savings bank account in India may be eligible. However, any claim will be settled in Indian rupees to the nominee's Indian bank account.

Q6: How do I check if my PMJJBY/PMSBY is active?

Check your bank statement for the premium deduction. You can also visit your bank branch or check via net banking under the insurance section.

Q7: Can I exit and re-join the scheme?

Yes. You can opt out and re-join in future years, subject to eligibility criteria and payment of the annual premium. For PMJJBY, a fresh self-declaration of good health is required.

Also see our income tax return filing guide for tax-saving tips using Section 80C deductions.