Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Scheme Details | Apply Online

Pradhan Mantri Jeevan Jyoti Bima Yojana


Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a one year life insurance scheme, renewable from year to year, offering coverage for death due to any reason and is available to people in the age group of 18 to 50 years (life cover up to age 55) having a savings bank account who give their consent to join and enable auto-debit. The risk cover on the lives of the enrolled persons has commenced from 1st June 2015.


Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Scheme Details


Under PMJJBY scheme, life cover of Rs. 2 lakhs is available for a one year period stretching from 1st June to 31st May at a premium of Rs.330/- per annum per subscriber and is renewable every year. It is offered/administered through LIC and other Indian private Life Insurance companies. For enrolment, banks have tied up with insurance companies. Participating Bank is the Master Policyholder.
In case of a joint account, all holders of the said account can join the scheme provided they satisfy its eligibility criteria and pay the premium at the rate of Rs.330 per person per annum. Even NRI having an eligible bank account with a bank branch located in India is eligible for purchase of PMJJBY cover subject to fulfillment of the terms and conditions relating to the scheme. However, in case a claim arises, the claimed benefit will be paid to the nominee only in Indian currency.


PMJJBY Scope of coverage

All individual account holders of participating banks in the age group of 18 to 50 years will be entitled to join. In case of multiple bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one bank account only. Aadhar would be the primary KYC for the bank account.

PMJJBY Benefits

As per the terms and conditions of the scheme, a death benefit of Rs 2 lakh will be given to the nominee in case of death of subscriber for any reason. The death benefit for a member under Pradhan Mantri Jeevan Jyoti Bima Yojana cannot extend Rs. 2,00,000/- even in case the member is covered through multiple bank accounts or through multiple insurers. In such an event, the claim will be payable for the first application based on the date of enrolment and the premium on the subsequent covers is liable to be forfeited.


Highlights of the Pradhan Mantri Jeevan Jyoti Bima Yojana

The highlights of PMJJBY Scheme are

Eligibility: Savings Bank (SB) Account holders between 18 years and 50 years who have given the consent to join the scheme / enable auto debit, as per the modality, will be enrolled into the scheme.
Policy period: The cover shall be for one year starting from June 1 to May 31 of next year. For the Savings Account holder joining on or after June 1, the cover shall commence from the date of premium debit and end on May 31 of next year.
Premium: Rs. 330 (per annum).
Payment Mode: The premium will be directly auto debited by the Bank from the subscribers Saving Bank Account held with the Bank. This is the only mode available currently. For renewal of the policy, it will be auto debited between May 25 and May 31, unless the customer has given the cancellation request to the Bank for the policy.
Risk Coverage: Sum Assured of Rs. 2 Lakh on the death of the Insured member for any reason is payable to the Nominee.

How To Apply For PMJJBY Scheme

Individuals who wish apply online for the Pradhan Mantri Jeevan Jyoti Bima Yojana scheme can follow the below steps by step process.




  • Log in to your NetBanking.
  • Click on Social Security Schemes
  • You will be shown multiple Social Security Schemes to choose from.
  • Select the Account through which you wish to pay your premium.
  • Policy Cover amount, Premium amount and Nominee details (as per the selected account) will be displayed. 
  • You can choose to replicate the Savings Account nominee or add a new nominee.
  • Further enter required details
  • Click on 'Continue' button. 
  • You will then be shown the complete details of the social security scheme you have registered for.
  • If you are okay with the scheme registration details displayed, click on 'Confirm'
  • Download the Acknowledgement, which carries a unique reference number.
  • Do save the Acknowledgement document for future reference.