The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme launched by the Government of India on May 9, 2015, with the aim of providing life insurance coverage to citizens at an affordable cost. Under this scheme, a life insurance coverage of Rs.2 lakh is provided in the event of death due to any cause. Individuals aged between 18 and 50 years who hold a savings bank account can enroll in this scheme by paying an annual premium of just Rs.436; this premium amount is automatically debited from their bank accounts. This policy remains valid for a period of one year and is renewable annually. The scheme plays a pivotal role in ensuring the financial security of the insured individual's family in the unfortunate event of their untimely demise.
Pradhan Mantri Jeevan Jyoti Bima Yojana 2026 Overview
- Scheme Name: Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
- Launch Date: 9 May 2015
- Coverage: Rs.2,00,000 Life Insurance
- Annual Premium: Rs.436 per year
- Age Limit: 18 to 50 years
- Implemented By: Government of India & Insurance Companies
- Mode of Application: Through banks, insurance companies, or online banking
PM Jeevan Jyoti Bima Yojana 2026 Eligibility Criteria
The applicant must be a citizen of India and must hold a savings bank account with any of the participating banks.
The applicant's age must be between 18 and 50 years. Individuals who join the scheme before the age of 50 may keep the policy active until the age of 55 by paying the annual premium each year.
The applicant must provide consent for the automatic deduction (auto-debit) of the premium amount from their bank account.
The applicant is required to nominate a family member or a beneficiary so that, in the event of the subscriber's death, the insurance proceeds may be received by that designated individual.
Even if an individual holds multiple bank accounts, they are permitted to maintain only one 'PMJJBY' policy.
PMJJBY Yojana 2026 Benefits
The primary benefit of the Pradhan Mantri Jeevan Jyoti Bima Yojana is that it provides the subscriber with life insurance coverage worth Rs.2 Lakhs. In the event of the insured person's death during the policy tenure, their nominee or family members receive the insured sum, which helps ensure the financial security of the family.
Under this scheme, insurance benefits are provided irrespective of the cause of death. This means that the policy offers coverage in all instances-whether death occurs due to natural causes, illness, or an accident.
Another significant advantage of this scheme is its extremely low annual premium rate (Rs. 436).
The process for enrolling in this scheme is extremely simple and convenient. Subscribers can join the scheme through their bank accounts, and the annual premium amount is automatically deducted from their account via an 'auto-debit' facility.
Pradhan Mantri Jeevan Jyoti Bima Yojana 2026 How to Apply
- Visit your bank branch where you have a savings account.
- Ask for the PMJJBY application form.
- Fill in your personal details and nominee details.
- Submit the form with Aadhaar and bank details.
- Allow auto-debit of Rs.436 per year from your bank account.
- After approval, your insurance coverage will start.
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