PMJJBY & PMSBY — ₹2 Lakh Insurance for Just ₹12/Year

Most Indian families have zero insurance cover. The government launched two ultra-affordable schemes under the Pradhan Mantri Jan Suraksha umbrella to fix this — one for life insurance and one for accident insurance. Together, they cost roughly ₹350 per year (less than ₹1/day) and provide up to ₹4 lakh in combined cover.

This guide covers both schemes side by side so you can understand, enroll, and claim benefits easily.

Quick Comparison: PMJJBY vs PMSBY

Pro Tip: Enroll in both schemes for just ₹456/year. That gives you ₹2 lakh life cover + ₹2 lakh accident cover — total ₹4 lakh protection for your family.

Who Is Eligible?

PMJJBY Eligibility

• Indian citizen aged 18 to 50 years
• Must have a savings bank account
• Must give consent for auto-debit of premium
• Aadhaar is the primary KYC document
• Cover continues till age 55 even if enrolled at 50

PMSBY Eligibility

• Indian citizen aged 18 to 70 years
• Must have a savings bank account
• Must give consent for auto-debit of premium
• Aadhaar is the primary KYC document

Note: You can hold only one PMJJBY policy and one PMSBY policy across all your bank accounts. Multiple policies are not allowed.

How to Enroll

Enrollment is simple and can be done through multiple channels:

1. At Your Bank Branch

• Visit your bank branch with Aadhaar and bank passbook
• Fill the one-page enrollment form (or give verbal consent)
• Sign the auto-debit mandate
• Done — the bank handles everything

2. Through Net Banking

• Log into your bank's internet banking portal
• Look for "Social Security Schemes" or "Jan Suraksha" section
• Select PMJJBY, PMSBY, or both
• Confirm Aadhaar number and nominee details
• Authorize auto-debit — enrollment is instant

3. Through Mobile Banking Apps

• Most major bank apps (SBI YONO, BOB World, iMobile, etc.) offer enrollment
• Navigate to Insurance / Government Schemes section
• Follow the same process as net banking

4. Through Business Correspondents (BC Points)

• If you don't have branch access, BCs and Common Service Centres (CSCs) can enroll you
• Especially useful in rural areas

Enrollment Window

• The standard enrollment period is 1 June to 31 May each year
• You can join mid-year, but cover starts from the enrollment date and runs till 31 May
• Premium for a mid-year join may still be charged in full for that year

How the Premium Works

• PMJJBY: ₹436 is auto-debited from your linked savings account annually (on or before 31 May)
• PMSBY: ₹20 is auto-debited similarly
• If your account doesn't have sufficient balance on the debit date, the policy lapses
• You can re-enroll later by paying the premium and submitting a self-declaration of good health (for PMJJBY)

The premium is inclusive of GST and administrative charges. What you see is what you pay — no hidden costs.

Tax Benefit: Premiums paid for both PMJJBY and PMSBY are eligible for deduction under Section 80C of the Income Tax Act.

What Is Covered?

PMJJBY — Life Insurance Cover

• ₹2 lakh paid to the nominee if the policyholder dies due to any cause (natural or accidental)
• This is pure term insurance — no maturity benefit, no surrender value
• Cover is valid 24/7, worldwide

PMSBY — Accident Insurance Cover

• ₹2 lakh for accidental death
• ₹2 lakh for total and irrecoverable loss of both eyes, or loss of use of both hands/feet, or loss of one eye and one hand/foot
• ₹1 lakh for irrecoverable loss of one eye, or loss of use of one hand/foot
• Covers road accidents, falls, drowning, and other accidental causes

What PMSBY does NOT cover: Natural death, suicide, self-inflicted injuries, death due to alcohol/drug use, or injuries during criminal activity.

How to File a Claim

PMJJBY Claim Process (Death Claim)

1. Nominee contacts the bank branch where the policyholder held the account
2. Collects the claim form from the bank (or downloads from jansuraksha.gov.in)
3. Submits the form along with required documents
4. Bank forwards the claim to the insurance company (LIC or other participating insurer)
5. Claim is processed and ₹2 lakh is credited to the nominee's bank account

PMSBY Claim Process (Accident Claim)

1. Policyholder (for disability) or nominee (for death) contacts the bank
2. Collects and fills the claim form
3. Submits documents including accident/medical reports
4. Bank forwards to the insurance company
5. Amount is credited to the claimant's account

Documents Required for Claim

For PMJJBY (Death Claim):

• Duly filled claim form
• Death certificate of the policyholder
• Nominee's Aadhaar card and bank account details
• FIR copy (if applicable, for unnatural death)
• Cancelled cheque of nominee's bank account

For PMSBY (Accident Claim):

• Duly filled claim form
• Death certificate (for death claim) or disability certificate from authorized medical board
• FIR / police report of the accident
• Post-mortem report (if applicable)
• Hospital records and discharge summary (for disability claims)
• Nominee's/claimant's Aadhaar and bank details
• Cancelled cheque

Important: Claims must be filed within 30 days of the event for PMSBY. For PMJJBY, there is no strict deadline but filing early ensures faster processing.

Renewal and Continuation

• Both schemes are annual — they auto-renew each year on 1 June
• As long as your bank account has sufficient balance and you haven't opted out, cover continues automatically
• PMJJBY cover ends when you turn 55
• PMSBY cover ends when you turn 70
• If you close your bank account or have insufficient balance, the policy lapses
• Re-enrollment is possible by paying the premium and (for PMJJBY) submitting a self-declaration of good health

Key Benefits at a Glance

• Ultra-affordable — ₹456/year for both schemes combined
• No medical exam required for enrollment
• Simple paperwork — just Aadhaar and bank account needed
• Government-backed — underwritten by public and private insurers under government supervision
• Automatic renewal — no need to remember renewal dates
• Universal access — available at virtually every bank in India
• Covers the uninsured — designed for low-income and middle-income families

Frequently Asked Questions

Can I enroll in both PMJJBY and PMSBY together?

Yes, absolutely. In fact, enrolling in both is recommended. You get ₹2 lakh life cover (PMJJBY) + ₹2 lakh accident cover (PMSBY) for a combined premium of just ₹456/year.

What happens if I miss the premium payment?

Your policy lapses. For PMSBY, you can re-enroll simply by paying ₹20. For PMJJBY, you need to pay ₹436 plus submit a self-declaration of good health. No medical examination is required for re-enrollment.

Can I have PMJJBY from multiple bank accounts?

No. You can hold only one PMJJBY policy and one PMSBY policy in total, regardless of how many bank accounts you have. Duplicate enrollments will be forfeited.

Is there a waiting period for PMJJBY?

There is no official waiting period. However, if you enroll for the first time or re-enroll after a lapse, the cover starts from the date of enrollment (or 1 June, whichever is later).

Are NRIs eligible for these schemes?

NRIs with a valid Indian savings bank account can enroll. However, the claim settlement will be in Indian rupees and subject to Indian jurisdiction.

What if the policyholder dies abroad?

The claim is still valid for PMJJBY (death due to any cause). For PMSBY, the death must be accidental. The nominee must provide proper documentation including the death certificate (attested/apostilled if issued abroad).

Can senior citizens above 50 enroll in PMJJBY?

No. PMJJBY enrollment is only for ages 18–50. However, PMSBY is available up to age 70, so senior citizens can still get accident cover for ₹20/year.

Related Guides

• Pradhan Mantri Jan Dhan Yojana — Zero Balance Bank Account — The bank account you need to enroll in these schemes
• Types of Life Insurance — How to Buy Online — Understanding term, endowment, and ULIP plans
• Atal Pension Yojana (APY) — Guaranteed Pension from ₹42/Month — Another Jan Suraksha scheme for retirement
• Ayushman Bharat Health Card — Free ₹5 Lakh Health Cover — Government health insurance for eligible families

PMJJBY and PMSBY are among the most impactful financial inclusion schemes in India. For less than the cost of a cup of tea per day, you can protect your family from financial devastation. Visit your bank or log into net banking today to enroll.