Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme designed to provide affordable financial protection to families across India. With a minimal yearly premium, this plan ensures that your loved ones receive crucial support in case of an untimely demise.
Who Can Apply?
To be eligible for PMJJBY, you must:
- Be a resident of India
- Be between 18 and 50 years old
- Hold an active bank or post office account
The insurance coverage continues until you reach the age of 55, as long as the premium is paid annually.
Premium & Coverage Details
| Feature | Details |
| Annual Premium | ₹436 |
| Coverage Amount | ₹2,00,000 |
| Coverage Period | 1st June – 31st May |
| Payment Mode | Auto-debit from account |
The premium is automatically deducted from your chosen account every year, making it hassle-free to maintain your coverage.
How to Enroll Online
Applying for PMJJBY is simple and can be done through your bank’s net banking portal. Here’s a quick step-by-step guide:
- Log in to your net banking account.
- Go to the ‘Insurance’ section.
- Select ‘Social Security Plans’.
- Choose ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’.
- Pick the account from which you want the premium to be deducted.
Once enrolled, your premium will be auto-debited every year, ensuring continuous protection.
Claim Process Simplified
In the unfortunate event of a claim, the process is straightforward:
- The nominee or insured (in case of disability) fills out the official claim form.
- Submit essential documents: identity proof, bank account details, Aadhaar, PAN, and signature.
- The claim is processed by the bank and insurance provider, ensuring timely assistance to the beneficiary.
Where Can You Apply?
PMJJBY is available through a wide network of banks, including:
- Public Sector Banks: Such as Punjab National Bank, State Bank of India, Central Bank of India
- Private Sector Banks: Including HDFC Bank, Kotak Mahindra Bank, Karur Vysya Bank, and more
- Regional Rural Banks: Like Andhra Pragathi Grameena Bank, Assam Gramin Vikash Bank, Karnataka Vikas Grameena Bank
- Cooperative Banks: Across various states
Why Choose PMJJBY?
- Affordable: Low premium makes it accessible for everyone.
- Simple Process: Easy enrollment and claim procedures.
- Wide Availability: Offered by most banks and financial institutions.
Protecting your family’s future doesn’t have to be expensive or complicated. With PMJJBY, you gain peace of mind knowing your loved ones are financially secure, no matter what life brings.
