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PM Jeevan Jyoti Bima Yojana: Who is eligible for benefits? Check every detail regarding eligibility, required documents, and premiums here.
PM Jeevan Jyoti Bima Yojana: The Pradhan Mantri Jeevan Jyoti Bima Yojana
(PMJJBY) is a government-sponsored life insurance scheme that provides an
insurance cover of ₹2 lakh in the event of death due to any cause. Its annual
premium is ₹436. Individuals aged between 18 and 50 years can enroll through
their bank or post office accounts. Upon the death of the insured, the nominee
receives the benefit amount directly.
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is an affordable
life insurance scheme that offers an insurance cover of ₹2 lakh in the event of
death from any cause. The annual premium for this scheme is just ₹436, which is
auto-debited from the subscriber's bank or post office account.
Launched in 2015, the primary objective of this scheme is to provide life
insurance protection, particularly to individuals belonging to low-income
groups. As of March 2025, over 23.36 crore people have enrolled in the scheme,
and claim amounts totalling ₹18,102.78 crore have been disbursed to 9.05 lakh
families.
Latest Updates
Regarding PMJJBY
As of March 2025, 23.36 crore people have enrolled in the scheme, and the
claim settlement rate stands at approximately 96.5%. No major changes were made
to the premium or coverage terms in 2025. In May 2025, the scheme completed 10
years of operation, with a special focus placed on rural and female
beneficiaries. Coverage under the scheme ceases upon the completion of 55 years
of age, the closure of the bank account, or if there are insufficient funds in
the account.
PM Jeevan Jyoti
Bima Yojana: Highlights
PMJJBY is a one-year renewable term life insurance scheme, with a
coverage period extending from June 1st to May 31st. It is administered by LIC
and other insurance companies through banks and post offices. The sum assured
is payable in the event of death resulting from natural or unnatural
causes—such as accidents, suicide, murder, or natural disasters.
This scheme does not require any form
of medical examination. Non-Resident Indians (NRIs) holding an Indian bank
account are also eligible to enroll; however, the claim amount is disbursed
exclusively in Indian Rupees.
Who is Eligible for the Insurance
Benefits?
Individuals aged between 18 and 50
years may enroll in this scheme, and coverage continues up to the age of 55,
subject to regular renewal. An individual may avail the benefits of this scheme
through only one bank account, even if they hold multiple bank accounts.
Institutional accounts are not eligible for this scheme. A 30-day lien period
applies to new entrants or those re-joining the scheme, during which claims
arising from non-accidental death are not admissible.
Benefits of the Scheme
In the event of the policyholder's
death—regardless of the cause—the designated nominee receives a sum of ₹2 lakh.
The premium paid for this scheme is eligible for tax exemption under Section
80C of the Income Tax Act. Women constitute over 53% of the beneficiaries, and
approximately 74% of the enrolled individuals hail from rural areas. This
scheme can be availed in conjunction with other existing insurance policies.
Premium Amount Under the Scheme
The
annual premium for the entire year is ₹436. In cases where an individual
enrolls mid-year, a pro-rata (partial) premium is charged—
Quick Reference: Pro-Rata Premium Table
|
Enrollment Period |
Premium Amount
(₹) |
|
Full
Year |
436 |
|
Sep–Nov |
342 |
|
Dec–Feb |
228 |
|
Mar–May |
114 |
|
Renewal |
436 |
How to Apply
for the Scheme:
To enroll in the scheme, applications can be submitted before May 31st
through your bank or post office branch, internet banking, or mobile app.
Consent for auto-debit must be provided, along with basic KYC information such
as your Aadhaar details. For instance, one can apply by logging in, navigating
to 'e-Services' > 'Social Security Schemes', and selecting 'PMJJBY'.
Required
Documents:
For enrolment, only an Aadhaar card or bank account details are
sufficient; no health certificate is required. To file a claim, a death
certificate, the nominee's KYC documents, a copy of the bank passbook, and—if
necessary—a FIR or post-mortem report must be submitted.
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