Pradhan Mantri Jeevan Jyoti Bima Yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is an insurance scheme offering life insurance cover for death due to any reason. It is a one-year cover, renewable from year to year. The scheme is offered by banks/post offices and administered through life insurance companies. All individuals who are account holders of participating banks/ post office in the age group of 18 to 50 years are entitled to join.

Benefits

PMJJBY offers one- year term life cover of ₹ 2.00 Lakh to all the subscribers in the age group of 18-50 years.
It covers death due to any reason.
Premium payable is ₹ 436/- per annum per subscriber, to be auto debited from the subscriber’s bank/post office account.

Eligibility

The age of the applicant must be between 18 to 50 Years.
The applicant must hold an individual bank / post office account.

Application Process

Step 01: Download and take print of the “CONSENT-CUM-DECLARATION FORM” given in the link below: https://www.jansuraksha.gov.in/

Step 02: Duly fill and sign the application form, attach the self-attested copies of the required documents, and submit the case to the authorised official of Bank / Post Office. The official will return you the “ACKNOWLEDGEMENT SLIP CUM CERTIFICATE OF INSURANCE

FAQs

Who will offer / administer the scheme?

The scheme would be offered / administered through Insurance companies willing to offer the product with necessary approvals on similar terms, in collaboration with participating Banks. Participating banks will be free to engage any such insurance company for implementing the scheme for their subscribers.

Are NRIs eligible for coverage under PMJJBY?

Any NRI having an eligible bank account with a bank branch located in India is eligible for purchase of PMJJBY cover subject to fulfilment of the terms and conditions relating to the scheme. However, in case a claim arises, the claim benefit will be paid to the beneficiary/ nominee only in Indian currency.