Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Scheme

Quick Overview

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed annual renewable term life insurance scheme. Unlike a regular term plan, where you lock in coverage for years, PMJJBY works like a one-year subscription. It covers you from June 1 to May 31 and renews automatically each year via a ₹436 auto-debit from your linked bank account. If you die at any point during that active year, ₹2 lakh is paid to your nominee. If you survive the year, no payout is made. Coverage renews annually until age 55 if enrolled before age 50.

The Pradhan Mantri Jeevan Jyoti Bima Yojana was launched in 2015 to provide life insurance to the uninsured population. As of February 18, 2026, the scheme has covered over 26.79 crore beneficiaries, with around 12.55 crore active policies. It has also settled ₹18,000+ crore in claims, with a consistently high claim settlement ratio of around 99%. It means nearly every claim filed has been paid out. But the question remains: is it enough?

This article explains the PMJJBY scheme details, coverage, and limitations so you can understand whether it suits your financial needs and protection goals.

Key Features of Pradhan Mantri Jeevan Jyoti Bima Yojana

Feature	Details
Scheme Type	Pure group term life insurance (no maturity/savings benefit), launched by the government.
Life Cover	₹2 lakh payable on death for any reason
Annual Premium	₹436 per year (GST exempt)
Policy Period	June 1 to May 31 each year (renewable annually)
Premium Debit	Auto-debited from linked savings/post office account
Administered By	LIC and other licensed Indian life insurance companies
NRI Eligibility	Allowed; claim paid in Indian currency only
Multiple Policies	Only one PMJJBY policy per person permitted
Lien Period	In the first 30 days of enrollment, only accidental deaths are covered; natural deaths are not covered.

What Makes PMJJBY Different from a Regular Term Plan

Most people assume PMJJBY works like a regular term insurance policy, but it doesn't. PMJJBY is a group term insurance scheme administered by LIC and other licensed private life insurers. Your bank or post office holds the master policy on behalf of all enrolled members. You are not the policyholder; you are a member of a group cover. The insurer underwrites the risk, while your bank or post office handles enrollment, annual premium collection, and claim coordination on your behalf.

Pro-rata PMJJBY Premium for Mid-Year Enrollments

Enrollment Month	Premium Payable
June, July, August	₹436 (full annual premium)
September, October, November	₹342
December, January, February	₹228
March, April, May	₹114

At renewal, the full annual premium of ₹436 applies regardless of when you first enrolled.

Inclusions and Exclusions of Pradhan Mantri Jeevan Jyoti Bima Yojana

What is Covered	What is Not Covered
Death due to natural causes (after the first 30 days)	Natural (non-accidental) death within the first 30 days of enrollment or rejoining
Death due to accidents (covered from day one)	Claims if the policy has lapsed due to an unsuccessful premium auto-debit
Death due to illness or disease	No survival or maturity benefit (since this is not a savings plan)
Death due to any cause after the waiting period	Coverage is limited to ₹2 lakh, even with multiple PMJJBY policies. Excess premiums paid for duplicate policies are forfeited, not refunded)

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Eligibility and Application Process for Pradhan Mantri Jeevan Jyoti Bima Yojana

Eligibility Criteria for PMJJBY

Criteria	Requirement
Age	18–50 years (coverage extendable to age 55 with annual renewal)
Bank/Post Office Account	Mandatory — individual savings account required
Aadhaar Linkage	Aadhaar linked to bank account is required
Consent for Auto-Debit	Must authorize annual auto-debit of ₹436
Account Type	Institutional accounts are not eligible

How to Apply for the PMJJBY Scheme?

Online: Visit the Jan Suraksha Portal or your bank's net banking portal and complete the enrollment form digitally.
Offline: Visit your bank branch or post office, collect the enrollment-cum-auto-debit form, fill it out, and submit it to the branch.
Via Banking Correspondents: Banking correspondents, agents, and Common Service Center (CSC) operators enroll users instantly using Aadhaar biometrics and smartphones without visiting bank branches, particularly in rural areas.
Via UMANG App: The scheme is also accessible through the UMANG government services app.

The PMJJBY premium is auto-debited on or before May 31 each year. If the debit fails due to insufficient balance, the policy lapses, but you don't have to wait until the next year to get covered again.

You can re-enroll mid-year by paying a pro-rata premium (₹342, ₹228, or ₹114 depending on the quarter), and some insurers may require a self-declaration of good health. However, a fresh 30-day lien period applies upon rejoining, meaning only accidental deaths are covered in that first month; non-accidental deaths are not. To check your PMJJBY policy status, log in to your bank's net banking portal or the Jan Suraksha Portal. Your enrollment and coverage details will be reflected there against your linked account.

Documents Required to Apply for Pradhan Mantri Jeevan Jyoti Bima Yojana

Aadhaar card (linked to bank account)
Signed consent-cum-auto-debit authorization form
Nominee details (name, relationship, bank account)
Bank account details

PMJJBY vs. Private Insurance: Which is Better?

PMJJBY	Private Term Insurance
Fixed cover of ₹2 lakh, with no option to increase the amount.	Higher cover flexibility, can choose based on your income, needs, and insurer underwriting.
₹436 yearly premium, and the scheme’s premium or terms can be revised under official scheme rules.	Premium is usually locked in at purchase for the chosen policy term, subject to the policy contract.
One-year renewable group cover, where the bank or post office acts as the master policyholder.	Individually owned long-term policy, where you are the policyholder and the cover is issued directly in your name.
Death due to any reason is covered, with a 30-day lien period only for non-accidental death after enrollment or rejoining.	Death cover is broad too, but suicide is typically excluded.
No riders or customization. The scheme is simple and standardized for everyone.	Can offer optional term insurance riders such as accidental death, disability, or waiver of premium, depending on the insurer and plan.
The policy terminates if auto-debit fails; rejoining later triggers a fresh lien period.	Usually comes with a grace period and revival provisions under policy terms, giving more continuity and long-term certainty.

Takeaway: PMJJBY is ideal for first-time buyers, low-income households, and anyone who wants very low-cost basic life cover quickly. It works well as a starter safety net because it is cheap, simple, and easy to access through banks and post offices. But private term insurance is worth considering if your family depends on your income, because it gives you much higher cover, better long-term certainty, and more flexibility. Both options also provide tax benefits under Section 80C (for premiums, under the old tax regime) and Section 10(10D) (for tax-free death benefits), making them efficient from a tax-saving perspective.

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Ditto's Take

PMJJBY is worth enrolling in, especially if you're in a lower-income bracket or just starting your financial journey. But if you have dependents or financial responsibilities, pair it with a private term plan offering 10–20 times your annual income in coverage, tailored to your liabilities and future goals. Read our guide to the best term insurance plans in India to find the right private cover for your needs.

Disclaimer: Ditto has no affiliation with this scheme. Our assessment is completely independent and based solely on publicly available data and the evaluation framework we use for all insurers. The information provided is for general awareness and should not be used for financial or legal decisions. Please refer to the official PMJJBY page and the Jan Suraksha Portal for the latest details.

Frequently Asked Questions

What are the Pradhan Mantri Jeevan Jyoti Bima Yojana benefits?

Pradhan Mantri Jeevan Jyoti Bima Yojana benefits include a ₹2 lakh death cover for any cause. The plan offers a low annual premium of ₹436, no medical tests, automatic renewal, and nationwide access through banks and post offices.

How does PMJJBY scheme work?

Your bank or post office is the master policyholder under Pradhan Mantri Jeevan Jyoti Bima Yojana. They enroll you, auto-debit ₹436 annually, and coordinate claims with LIC or the insurer. Coverage terminates at age 55, on account closure, or if the auto-debit fails.

What is covered under the PMJJBY policy?

The PMJJBY policy covers death due to any reason, natural, accidental, or illness-related, and pays ₹2 lakh to the nominee. The only exclusion is non-accidental death within the first 30 days of enrollment. Accidental death is covered from day one.

How do I file a claim under Pradhan Mantri Jeevan Jyoti Bima Yojana?

The nominee should contact the bank where the deceased held the PMJJBY-linked savings account. They must submit a death certificate, completed claim form, discharge receipt, and canceled check or bank details. The bank then forwards the claim to the insurer, usually settled within 2–4 weeks.

Last updated on: 27 Mar, 2026