Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
Ministry: Ministry of Finance
Category: Insurance, Life Cover, Financial Security, Social Welfare | State/UT: All India | Central: Yes
About Scheme
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme that provides life insurance coverage to account holders in the age group of 18 to 50 years. It offers financial protection to families in case of the death of the insured person, regardless of the cause. The scheme is renewable every year and administered through banks, post offices, and life insurance companies.
Details
Under PMJJBY, eligible account holders can get a one-year renewable life cover of ₹2 lakh for a nominal premium of ₹436 per annum. The premium is automatically debited from the subscriber’s bank or post office account. The scheme covers death due to any reason and aims to promote financial inclusion and social security among low-income and unorganised sector workers.
Eligibility
Eligibility criteria:
- Applicant’s age must be **between 18 and 50 years**.
- Must have an **individual savings bank or post office account**.
- Should give **consent to join** and enable **auto-debit** of premium from the account.
- On attaining 55 years (subject to regular payment of premium), the insurance cover ceases automatically.
Benefits
Key Benefits:
1️⃣ Provides **life insurance coverage of ₹2,00,000** in case of death due to any reason.
2️⃣ Affordable premium of **₹436 per annum per subscriber**.
3️⃣ **One-year term cover**, renewable annually.
4️⃣ **Auto-debit facility** from bank/post office account ensures hassle-free premium payment.
5️⃣ Coverage available across India under participating banks and post offices.
6️⃣ Offered by multiple **Life Insurance Companies** administered under the supervision of the Ministry of Finance.
Application Process
Offline Process:
1️⃣ Download the **Consent-cum-Declaration Form** from: https://www.jansuraksha.gov.in/Files/PMJJBY/English/ApplicationForm.pdf
2️⃣ Fill the form, attach self-attested copies of required documents.
3️⃣ Submit the form to the authorised bank or post office.
4️⃣ Receive the **Acknowledgement Slip cum Certificate of Insurance** from the official.
Online Process:
1️⃣ Visit your **bank’s online portal** or **mobile app**.
2️⃣ Log in and select the option to enroll under **PMJJBY**.
3️⃣ Confirm consent and ensure auto-debit facility is active.
4️⃣ Premium of ₹436 will be automatically deducted from your account annually.
Documents Required
1. Filled and signed Consent-cum-Declaration Form
2. Aadhaar Card (as identity proof)
3. Bank or Post Office Account details (with active auto-debit)
4. Passport-size photograph (if required by the institution)
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